MDU Resources Group Inc (MDU) Position Reduced by Teacher Retirement System of Texas
Teacher Retirement System of Texas decreased its position in shares of MDU Resources Group Inc (NYSE:MDU) by 8.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,637 shares of the utilities provider’s stock after selling 3,488 shares during the period. Teacher Retirement System of Texas’ holdings in MDU Resources Group were worth $1,079,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Whittier Trust Co. bought a new stake in MDU Resources Group during the second quarter worth approximately $105,000. Clarus Wealth Advisors bought a new stake in MDU Resources Group during the second quarter worth approximately $108,000. TLP Group LLC raised its holdings in MDU Resources Group by 268,566.7% during the first quarter. TLP Group LLC now owns 8,060 shares of the utilities provider’s stock worth $227,000 after purchasing an additional 8,057 shares in the last quarter. Eqis Capital Management Inc. raised its holdings in MDU Resources Group by 92.3% during the second quarter. Eqis Capital Management Inc. now owns 16,772 shares of the utilities provider’s stock worth $481,000 after purchasing an additional 8,051 shares in the last quarter. Finally, 6 Meridian bought a new stake in MDU Resources Group during the first quarter worth approximately $478,000. 63.92% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently commented on the company. KeyCorp boosted their target price on MDU Resources Group from $29.00 to $30.00 and gave the stock a “$29.34” rating in a report on Thursday, July 19th. Citigroup boosted their target price on MDU Resources Group from $28.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, July 31st. Finally, Zacks Investment Research cut MDU Resources Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. MDU Resources Group has a consensus rating of “Buy” and an average target price of $29.25.
MDU Resources Group (NYSE:MDU) last posted its quarterly earnings results on Tuesday, July 31st. The utilities provider reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.06). The company had revenue of $1.06 billion during the quarter. MDU Resources Group had a net margin of 6.45% and a return on equity of 10.40%. analysts anticipate that MDU Resources Group Inc will post 1.38 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Thursday, September 13th will be issued a $0.1975 dividend. The ex-dividend date is Wednesday, September 12th. This represents a $0.79 annualized dividend and a dividend yield of 2.80%. MDU Resources Group’s dividend payout ratio is currently 63.20%.
MDU Resources Group Profile
MDU Resources Group, Inc engages in regulated energy delivery, and construction materials and services businesses in the United States. The company operates through five segments: Electric, Natural Gas Distribution, Pipeline and Midstream, Construction Materials and Contracting, and Construction Services.
Further Reading: Short Selling
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