Oppenheimer Asset Management Inc. Cuts Stock Position in MDU Resources Group, Inc. (NYSE:MDU)

Oppenheimer Asset Management Inc. trimmed its position in MDU Resources Group, Inc. (NYSE:MDUGet Rating) by 47.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,231 shares of the utilities provider’s stock after selling 8,202 shares during the period. Oppenheimer Asset Management Inc.’s holdings in MDU Resources Group were worth $249,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Total Clarity Wealth Management Inc. purchased a new position in shares of MDU Resources Group during the 2nd quarter worth approximately $27,000. Herold Advisors Inc. purchased a new position in MDU Resources Group in the first quarter worth $53,000. Venture Visionary Partners LLC acquired a new stake in MDU Resources Group in the second quarter valued at $53,000. CENTRAL TRUST Co lifted its holdings in MDU Resources Group by 42.9% in the first quarter. CENTRAL TRUST Co now owns 2,141 shares of the utilities provider’s stock valued at $57,000 after acquiring an additional 643 shares during the period. Finally, Heritage Financial Services LLC acquired a new position in shares of MDU Resources Group during the 2nd quarter worth $66,000. 71.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MDU has been the subject of several recent analyst reports. Bank of America cut shares of MDU Resources Group from a “neutral” rating to an “underperform” rating in a research note on Monday, October 24th. StockNews.com initiated coverage on MDU Resources Group in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Citigroup upped their price target on MDU Resources Group to $31.00 in a report on Monday, August 15th.

MDU Resources Group Stock Down 0.1 %

Shares of NYSE MDU opened at $29.91 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.38 and a quick ratio of 1.11. The company has a market capitalization of $6.08 billion, a PE ratio of 18.02, a price-to-earnings-growth ratio of 2.93 and a beta of 0.72. MDU Resources Group, Inc. has a 12-month low of $24.92 and a 12-month high of $32.19. The firm’s 50-day moving average is $28.76 and its two-hundred day moving average is $28.21.

MDU Resources Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, January 1st. Shareholders of record on Thursday, December 8th will be paid a dividend of $0.2225 per share. This is a positive change from MDU Resources Group’s previous quarterly dividend of $0.22. This represents a $0.89 annualized dividend and a yield of 2.98%. MDU Resources Group’s dividend payout ratio is currently 52.41%.

About MDU Resources Group

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MDU Resources Group, Inc engages in the regulated energy delivery, and construction materials and services businesses in the United States. The company's Electric segment generates, transmits, and distributes electricity for residential, commercial, industrial, and municipal customers in Montana, North Dakota, South Dakota, and Wyoming, as well as operates 3,500 miles of transmission lines and 4,800 miles of distribution lines.

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Institutional Ownership by Quarter for MDU Resources Group (NYSE:MDU)

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