Alliancebernstein L.P. Lowers Stock Holdings in MDU Resources Group, Inc. (NYSE:MDU)

Alliancebernstein L.P. cut its stake in shares of MDU Resources Group, Inc. (NYSE:MDU) by 78.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 64,707 shares of the utilities provider’s stock after selling 232,246 shares during the period. Alliancebernstein L.P.’s holdings in MDU Resources Group were worth $1,166,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Friedenthal Financial acquired a new stake in shares of MDU Resources Group in the 4th quarter worth $778,000. Assenagon Asset Management S.A. boosted its holdings in MDU Resources Group by 42.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 115,907 shares of the utilities provider’s stock worth $2,089,000 after buying an additional 34,409 shares in the last quarter. Cascade Investment Advisors Inc. grew its position in MDU Resources Group by 21.3% during the fourth quarter. Cascade Investment Advisors Inc. now owns 81,626 shares of the utilities provider’s stock worth $1,471,000 after buying an additional 14,360 shares during the period. JPMorgan Chase & Co. increased its holdings in MDU Resources Group by 32.3% in the third quarter. JPMorgan Chase & Co. now owns 855,493 shares of the utilities provider’s stock valued at $23,449,000 after buying an additional 209,042 shares in the last quarter. Finally, Advisors Preferred LLC acquired a new stake in shares of MDU Resources Group in the 4th quarter worth approximately $5,691,000. 71.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MDU shares. Jefferies Financial Group initiated coverage on MDU Resources Group in a research report on Wednesday, January 8th. They issued a “hold” rating and a $18.00 price target for the company. StockNews.com downgraded shares of MDU Resources Group from a “hold” rating to a “sell” rating in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $21.00.

MDU Resources Group Trading Up 0.1 %

MDU stock opened at $16.78 on Friday. The company has a market cap of $3.43 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 2.76 and a beta of 0.68. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.73. The business has a fifty day simple moving average of $16.70 and a 200-day simple moving average of $19.28. MDU Resources Group, Inc. has a 52 week low of $13.09 and a 52 week high of $20.39.

MDU Resources Group (NYSE:MDU) last issued its earnings results on Thursday, February 6th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. MDU Resources Group had a return on equity of 10.20% and a net margin of 7.31%. On average, equities research analysts expect that MDU Resources Group, Inc. will post 0.94 EPS for the current year.

MDU Resources Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Thursday, March 13th were paid a $0.13 dividend. The ex-dividend date was Thursday, March 13th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.10%. MDU Resources Group’s dividend payout ratio (DPR) is currently 37.68%.

Insider Activity

In related news, Director Dennis W. Johnson purchased 30,000 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was acquired at an average price of $16.64 per share, with a total value of $499,200.00. Following the completion of the transaction, the director now owns 180,166 shares of the company’s stock, valued at $2,997,962.24. This represents a 19.98 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.94% of the company’s stock.

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.