Point72 Asset Management L.P. Cuts Stock Position in MDU Resources Group, Inc. (NYSE:MDU)

Point72 Asset Management L.P. reduced its stake in MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 45.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 240,412 shares of the utilities provider's stock after selling 201,918 shares during the period. Point72 Asset Management L.P. owned approximately 0.12% of MDU Resources Group worth $6,590,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MDU. V Square Quantitative Management LLC purchased a new stake in shares of MDU Resources Group in the 3rd quarter valued at approximately $25,000. Atlas Capital Advisors LLC purchased a new position in MDU Resources Group in the second quarter valued at $27,000. Venturi Wealth Management LLC increased its holdings in MDU Resources Group by 158.9% in the third quarter. Venturi Wealth Management LLC now owns 1,196 shares of the utilities provider's stock valued at $33,000 after buying an additional 734 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in MDU Resources Group in the third quarter valued at $40,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in MDU Resources Group by 23.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,142 shares of the utilities provider's stock worth $54,000 after buying an additional 413 shares during the last quarter. 71.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on MDU. Siebert Williams Shank upgraded MDU Resources Group from a "hold" rating to a "buy" rating and set a $19.00 price objective on the stock in a report on Monday, November 4th. StockNews.com initiated coverage on shares of MDU Resources Group in a research note on Tuesday, November 5th. They issued a "hold" rating on the stock. Finally, Bank of America raised shares of MDU Resources Group from a "neutral" rating to a "buy" rating and cut their price objective for the stock from $31.00 to $17.00 in a report on Tuesday, November 5th.

MDU Resources Group Stock Performance

Shares of MDU traded down $0.42 during midday trading on Monday, reaching $19.05. 733,392 shares of the stock were exchanged, compared to its average volume of 1,615,900. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of 9.98, a PEG ratio of 2.52 and a beta of 0.79. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.15 and a quick ratio of 1.07. MDU Resources Group, Inc. has a twelve month low of $14.91 and a twelve month high of $30.52. The business's 50-day moving average price is $23.36 and its 200 day moving average price is $24.72.

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

MDU Resources Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Thursday, December 12th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.52 dividend on an annualized basis and a yield of 2.73%. MDU Resources Group's dividend payout ratio is presently 26.67%.

MDU Resources Group 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.