Citigroup Inc. Sells 25,868 Shares of MDU Resources Group, Inc. (NYSE:MDU)

Citigroup Inc. reduced its position in MDU Resources Group, Inc. (NYSE:MDU) by 66.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,966 shares of the utilities provider’s stock after selling 25,868 shares during the quarter. Citigroup Inc.’s holdings in MDU Resources Group were worth $254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of MDU Resources Group by 1.0% in the third quarter. Vanguard Group Inc. now owns 21,677,094 shares of the utilities provider’s stock worth $592,868,000 after purchasing an additional 218,558 shares during the period. BlackRock Inc. boosted its position in shares of MDU Resources Group by 1.4% during the second quarter. BlackRock Inc. now owns 19,089,418 shares of the utilities provider’s stock worth $399,732,000 after acquiring an additional 269,302 shares during the last quarter. State Street Corp boosted its position in shares of MDU Resources Group by 12.5% during the first quarter. State Street Corp now owns 15,468,160 shares of the utilities provider’s stock worth $415,454,000 after acquiring an additional 1,716,930 shares during the last quarter. 59 North Capital Management LP boosted its position in shares of MDU Resources Group by 33.9% during the second quarter. 59 North Capital Management LP now owns 3,650,989 shares of the utilities provider’s stock worth $76,452,000 after acquiring an additional 924,618 shares during the last quarter. Finally, FMR LLC boosted its position in shares of MDU Resources Group by 48.7% during the third quarter. FMR LLC now owns 3,585,707 shares of the utilities provider’s stock worth $70,208,000 after acquiring an additional 1,174,799 shares during the last quarter. 71.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of MDU Resources Group from a “hold” rating to a “buy” rating in a research report on Wednesday, February 21st.

MDU Resources Group Price Performance

Shares of NYSE:MDU opened at $24.50 on Thursday. The firm has a market cap of $4.99 billion, a price-to-earnings ratio of 12.01, a P/E/G ratio of 2.42 and a beta of 0.76. The firm has a fifty day moving average price of $21.11 and a 200 day moving average price of $19.91. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.19 and a current ratio of 1.27. MDU Resources Group, Inc. has a fifty-two week low of $18.04 and a fifty-two week high of $24.59.

MDU Resources Group (NYSE:MDU) last released its quarterly earnings results on Thursday, February 8th. The utilities provider reported $0.48 earnings per share (EPS) for the quarter. The company had revenue of $1.14 billion for the quarter. MDU Resources Group had a net margin of 8.35% and a return on equity of 8.84%. As a group, sell-side analysts expect that MDU Resources Group, Inc. will post 1.52 earnings per share for the current fiscal year.

MDU Resources Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Thursday, March 14th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Wednesday, March 13th. MDU Resources Group’s payout ratio is 24.51%.

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.