Geode Capital Management LLC Purchases 65,433 Shares of MDU Resources Group, Inc. (NYSE:MDU)

Geode Capital Management LLC increased its position in MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 1.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,719,543 shares of the utilities provider's stock after purchasing an additional 65,433 shares during the quarter. Geode Capital Management LLC owned approximately 1.82% of MDU Resources Group worth $101,978,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Barclays PLC lifted its position in MDU Resources Group by 7.8% during the third quarter. Barclays PLC now owns 87,022 shares of the utilities provider's stock valued at $2,386,000 after buying an additional 6,264 shares during the period. XTX Topco Ltd purchased a new position in MDU Resources Group during the 3rd quarter valued at about $396,000. Weiss Asset Management LP bought a new stake in MDU Resources Group during the third quarter worth about $619,000. State Street Corp grew its holdings in MDU Resources Group by 1.8% in the third quarter. State Street Corp now owns 6,344,185 shares of the utilities provider's stock worth $174,713,000 after purchasing an additional 114,719 shares during the period. Finally, Stifel Financial Corp increased its stake in shares of MDU Resources Group by 1.6% during the third quarter. Stifel Financial Corp now owns 85,306 shares of the utilities provider's stock valued at $2,338,000 after purchasing an additional 1,353 shares in the last quarter. 71.44% of the stock is currently owned by institutional investors.

MDU Resources Group Stock Up 2.0 %

NYSE MDU traded up $0.36 during mid-day trading on Thursday, reaching $17.98. The stock had a trading volume of 2,106,191 shares, compared to its average volume of 1,624,579. The stock has a market cap of $3.67 billion, a PE ratio of 9.22, a price-to-earnings-growth ratio of 2.46 and a beta of 0.79. MDU Resources Group, Inc. has a 1 year low of $14.91 and a 1 year high of $30.52. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.15 and a quick ratio of 1.07. The company has a fifty day moving average price of $21.97 and a 200 day moving average price of $24.37.

MDU Resources Group (NYSE:MDU - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01. MDU Resources Group had a return on equity of 11.24% and a net margin of 8.92%. The firm had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $969.17 million. During the same quarter in the previous year, the business earned $0.29 earnings per share. The company's revenue was up 5.0% on a year-over-year basis. On average, research analysts expect that MDU Resources Group, Inc. will post 1.13 earnings per share for the current year.

MDU Resources Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Thursday, December 12th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date is Thursday, December 12th. MDU Resources Group's payout ratio is presently 26.67%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. StockNews.com began coverage on MDU Resources Group in a research note on Wednesday. They issued a "hold" rating on the stock. Bank of America upgraded MDU Resources Group from a "neutral" rating to a "buy" rating and reduced their price target for the company from $31.00 to $17.00 in a report on Tuesday, November 5th. Finally, Siebert Williams Shank upgraded shares of MDU Resources Group from a "hold" rating to a "buy" rating and set a $19.00 price target on the stock in a research note on Monday, November 4th.

About MDU Resources Group

MDU Resources Group, Inc engages in the regulated energy delivery, and construction materials and services businesses in the United States. It operates through four segments: Electric, Natural Gas Distribution, Pipeline, and Construction Services. The Electric segment generates, transmits, and distributes electricity for residential, commercial, industrial, and municipal customers in Montana, North Dakota, South Dakota, and Wyoming; and operates 3,400 miles of transmission lines, 4,800 miles of distribution lines, and 82 transmission and 298 distribution substations.