Point72 Asia Singapore Pte. Ltd. Has $256,000 Position in MDU Resources Group, Inc. (NYSE:MDU)

Point72 Asia Singapore Pte. Ltd. lifted its position in MDU Resources Group, Inc. (NYSE:MDU) by 43.3% during the third quarter, HoldingsChannel.com reports. The fund owned 9,333 shares of the utilities provider’s stock after purchasing an additional 2,820 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in MDU Resources Group were worth $256,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in MDU Resources Group by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 7,491,990 shares of the utilities provider’s stock worth $188,049,000 after purchasing an additional 563,424 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its stake in MDU Resources Group by 40.9% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,048,344 shares of the utilities provider’s stock worth $151,813,000 after buying an additional 1,756,530 shares during the period. American Century Companies Inc. lifted its holdings in MDU Resources Group by 30.7% during the second quarter. American Century Companies Inc. now owns 4,158,224 shares of the utilities provider’s stock worth $104,371,000 after acquiring an additional 977,487 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in MDU Resources Group by 5.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,082,468 shares of the utilities provider’s stock valued at $57,080,000 after acquiring an additional 101,955 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in MDU Resources Group by 1.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,782,538 shares of the utilities provider’s stock valued at $48,859,000 after acquiring an additional 33,982 shares during the period. Institutional investors own 71.44% of the company’s stock.

MDU Resources Group Stock Down 1.3 %

Shares of MDU Resources Group stock opened at $19.86 on Wednesday. The firm has a market cap of $4.05 billion, a PE ratio of 10.18, a P/E/G ratio of 2.60 and a beta of 0.79. MDU Resources Group, Inc. has a 52-week low of $14.91 and a 52-week high of $30.52. The business’s 50 day simple moving average is $23.84 and its 200 day simple moving average is $24.85. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.07 and a current ratio of 1.15.

MDU Resources Group (NYSE:MDU) last released its earnings results 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. MDU Resources Group had a net margin of 8.92% and a return on equity of 11.24%. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $969.17 million. During the same quarter last year, the firm earned $0.29 earnings per share. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, analysts predict 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 will be paid on Wednesday, January 1st. Investors of record on Thursday, December 12th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.52 annualized dividend and a yield of 2.62%. MDU Resources Group’s payout ratio is presently 26.67%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. 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. Bank of America raised shares of MDU Resources Group from a “neutral” rating to a “buy” rating and cut their price target for the company from $31.00 to $17.00 in a research note on Tuesday, November 5th. Finally, StockNews.com assumed coverage on shares of MDU Resources Group in a research report on Tuesday, November 5th. They set a “hold” rating for the company.

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.