Bangor Savings Bank Sells 2,088 Shares of MDU Resources Group, Inc. (NYSE:MDU)

Bangor Savings Bank lowered its stake in MDU Resources Group, Inc. (NYSE:MDU) by 27.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,448 shares of the utilities provider’s stock after selling 2,088 shares during the quarter. Bangor Savings Bank’s holdings in MDU Resources Group were worth $137,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of MDU Resources Group in the fourth quarter worth $38,971,000. River Road Asset Management LLC lifted its position in shares of MDU Resources Group by 49.6% in the fourth quarter. River Road Asset Management LLC now owns 2,931,590 shares of the utilities provider’s stock worth $58,045,000 after purchasing an additional 972,540 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of MDU Resources Group by 16.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,181,092 shares of the utilities provider’s stock worth $122,386,000 after purchasing an additional 858,100 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of MDU Resources Group by 24.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,775,161 shares of the utilities provider’s stock worth $35,148,000 after purchasing an additional 352,540 shares in the last quarter. Finally, Bornite Capital Management LP bought a new stake in shares of MDU Resources Group in the first quarter worth $8,820,000. Institutional investors own 71.44% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MDU. Argus upgraded shares of MDU Resources Group from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Monday, May 20th. StockNews.com downgraded shares of MDU Resources Group from a “buy” rating to a “hold” rating in a report on Friday, July 26th.

MDU Resources Group Price Performance

MDU traded up $0.15 on Tuesday, hitting $24.25. 348,474 shares of the stock were exchanged, compared to its average volume of 1,203,046. MDU Resources Group, Inc. has a 12 month low of $18.04 and a 12 month high of $27.30. The business has a 50-day moving average of $25.37 and a two-hundred day moving average of $23.99. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.43 and a quick ratio of 1.37. The firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of 10.30, a PEG ratio of 2.86 and a beta of 0.77.

MDU Resources Group (NYSE:MDU) last posted its quarterly earnings data on Thursday, August 8th. The utilities provider reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.11. MDU Resources Group had a net margin of 10.74% and a return on equity of 11.42%. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the prior year, the business posted $0.29 earnings per share. MDU Resources Group’s revenue was down 4.0% compared to the same quarter last year. Sell-side analysts forecast that MDU Resources Group, Inc. will post 1.55 EPS for the current fiscal year.

MDU Resources Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Thursday, June 13th were issued a $0.125 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.06%. MDU Resources Group’s dividend payout ratio (DPR) is currently 21.37%.

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.