Franklin Resources Inc. Cuts Stake in MDU Resources Group, Inc. (NYSE:MDU)

Franklin Resources Inc. lessened its stake in MDU Resources Group, Inc. (NYSE:MDU) by 32.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 938,471 shares of the utilities provider’s stock after selling 444,216 shares during the quarter. Franklin Resources Inc. owned 0.46% of MDU Resources Group worth $27,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently 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 buying an additional 563,424 shares during the last quarter. State Street Corp increased its position in shares of MDU Resources Group by 1.8% during the third quarter. State Street Corp now owns 6,344,185 shares of the utilities provider’s stock valued at $174,713,000 after acquiring an additional 114,719 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in MDU Resources Group by 40.9% in 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 acquiring an additional 1,756,530 shares during the last quarter. American Century Companies Inc. lifted its position in MDU Resources Group by 30.7% in the 2nd quarter. American Century Companies Inc. now owns 4,158,224 shares of the utilities provider’s stock valued at $104,371,000 after acquiring an additional 977,487 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in MDU Resources Group by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,719,543 shares of the utilities provider’s stock valued at $101,978,000 after purchasing an additional 65,433 shares during the last quarter. Institutional investors own 71.44% of the company’s stock.

MDU Resources Group Price Performance

NYSE MDU opened at $17.62 on Thursday. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 9.04, a PEG ratio of 2.46 and a beta of 0.79. MDU Resources Group, Inc. has a 1-year low of $14.91 and a 1-year high of $30.52. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.15 and a quick ratio of 1.07. The business’s fifty day moving average price is $21.97 and its 200-day moving average price is $24.37.

MDU Resources Group (NYSE:MDU) last posted 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 return on equity of 11.24% and a net margin of 8.92%. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $969.17 million. During the same quarter in the prior year, the company earned $0.29 earnings per share. MDU Resources Group’s revenue was up 5.0% on a year-over-year basis. On average, equities analysts predict that MDU Resources Group, Inc. will post 1.13 earnings per share for the current year.

MDU Resources Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders 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 dividend on an annualized basis and a yield of 2.95%. MDU Resources Group’s dividend payout ratio is currently 26.67%.

Analyst Ratings Changes

Several research firms have recently weighed in on MDU. StockNews.com started coverage on MDU Resources Group in a research note on Wednesday. They issued a “hold” rating for the company. Siebert Williams Shank raised MDU Resources Group from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research report on Monday, November 4th. Finally, Bank of America upgraded shares of MDU Resources Group from a “neutral” rating to a “buy” rating and lowered their target price for the company from $31.00 to $17.00 in a research note on Tuesday, November 5th.

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.