MDU Resources Group, Inc. (NYSE:MDU) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its holdings in MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 32.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 855,493 shares of the utilities provider's stock after buying an additional 209,042 shares during the quarter. JPMorgan Chase & Co. owned about 0.42% of MDU Resources Group worth $23,449,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. V Square Quantitative Management LLC purchased a new position in MDU Resources Group in the third quarter valued at about $25,000. Venturi Wealth Management LLC increased its stake in MDU Resources Group by 158.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,196 shares of the utilities provider's stock valued at $33,000 after purchasing an additional 734 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in MDU Resources Group in the 3rd quarter valued at approximately $40,000. Northwestern Mutual Wealth Management Co. raised its holdings in MDU Resources Group by 23.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,142 shares of the utilities provider's stock worth $54,000 after purchasing an additional 413 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in MDU Resources Group by 238.1% during the third quarter. Blue Trust Inc. now owns 2,935 shares of the utilities provider's stock worth $74,000 after purchasing an additional 2,067 shares in the last quarter. 71.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MDU. StockNews.com initiated coverage on MDU Resources Group in a research report on Friday, January 3rd. They issued a "hold" rating for the company. Siebert Williams Shank upgraded shares of MDU Resources Group from a "hold" rating to a "buy" rating and set a $19.00 target price for the company in a research report on Monday, November 4th. Bank of America upgraded shares of MDU Resources Group from a "neutral" rating to a "buy" rating and lowered their price target for the company from $31.00 to $17.00 in a research report on Tuesday, November 5th. Finally, Jefferies Financial Group began coverage on shares of MDU Resources Group in a research note on Wednesday. They set a "hold" rating and a $18.00 price objective for the company. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, MDU Resources Group has a consensus rating of "Moderate Buy" and an average target price of $21.00.

MDU Resources Group Trading Up 0.2 %

Shares of NYSE:MDU traded up $0.03 during trading on Thursday, reaching $18.04. The stock had a trading volume of 1,299,569 shares, compared to its average volume of 1,892,974. MDU Resources Group, Inc. has a fifty-two week low of $14.91 and a fifty-two week high of $30.52. The business has a fifty day moving average price of $18.47 and a 200-day moving average price of $23.62. The stock has a market cap of $3.68 billion, a P/E ratio of 9.25, a PEG ratio of 2.44 and a beta of 0.81. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.73.

MDU Resources Group (NYSE:MDU - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.01. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $969.17 million. MDU Resources Group had a return on equity of 11.24% and a net margin of 8.92%. The business's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.29 EPS. As a group, analysts anticipate that MDU Resources Group, Inc. will post 1.13 earnings per share for the current fiscal year.

MDU Resources Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Thursday, December 12th were issued a $0.13 dividend. The ex-dividend date of this dividend was Thursday, December 12th. This represents a $0.52 dividend on an annualized basis and a yield of 2.88%. MDU Resources Group's payout ratio is 26.67%.

MDU Resources Group Company Profile

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.