Texas Permanent School Fund Corp Cuts Holdings in MDU Resources Group, Inc. $MDU

Texas Permanent School Fund Corp decreased its position in MDU Resources Group, Inc. (NYSE:MDU) by 38.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 123,161 shares of the utilities provider’s stock after selling 75,493 shares during the period. Texas Permanent School Fund Corp owned 0.06% of MDU Resources Group worth $2,053,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in shares of MDU Resources Group in the second quarter valued at approximately $40,087,000. Deroy & Devereaux Private Investment Counsel Inc. purchased a new position in MDU Resources Group in the second quarter worth $26,098,000. River Road Asset Management LLC bought a new position in MDU Resources Group in the 2nd quarter valued at $26,105,000. Adage Capital Partners GP L.L.C. grew its stake in MDU Resources Group by 195.0% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,548,864 shares of the utilities provider’s stock valued at $26,191,000 after purchasing an additional 1,023,864 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of MDU Resources Group during the 1st quarter valued at $14,636,000. Institutional investors own 71.44% of the company’s stock.

MDU Resources Group Price Performance

MDU opened at $19.17 on Monday. The firm has a 50-day moving average price of $19.98 and a 200-day moving average price of $17.90. MDU Resources Group, Inc. has a twelve month low of $15.04 and a twelve month high of $21.49. The company has a quick ratio of 0.69, a current ratio of 0.75 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of 23.10, a PEG ratio of 2.74 and a beta of 0.75.

MDU Resources Group (NYSE:MDU) last announced its quarterly earnings results on Thursday, November 6th. The utilities provider reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. MDU Resources Group had a net margin of 9.02% and a return on equity of 6.81%. During the same quarter in the previous year, the company posted $0.32 EPS. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. MDU Resources Group has set its FY 2025 guidance at 0.900-0.950 EPS. Equities analysts expect that MDU Resources Group, Inc. will post 0.94 EPS for the current year.

MDU Resources Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 1st. Stockholders of record on Thursday, December 11th will be given a $0.14 dividend. The ex-dividend date is Thursday, December 11th. This represents a $0.56 annualized dividend and a dividend yield of 2.9%. MDU Resources Group’s payout ratio is 67.47%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MDU. TD Cowen began coverage on shares of MDU Resources Group in a report on Thursday, October 16th. They issued a “hold” rating and a $20.00 price target on the stock. Jefferies Financial Group lifted their price objective on shares of MDU Resources Group to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Cowen started coverage on shares of MDU Resources Group in a research report on Wednesday, October 15th. They set a “hold” rating for the company. Weiss Ratings restated a “hold (c)” rating on shares of MDU Resources Group in a research note on Monday, December 8th. Finally, Zacks Research upgraded MDU Resources Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, December 4th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $21.00.

MDU Resources Group Profile

MDU Resources Group, Inc is a diversified energy and services holding company headquartered in Bismarck, North Dakota. The company operates through two primary segments: Utilities and Construction Services and Pipelines & Midstream. Serving a broad geographic footprint across the upper Midwest and Pacific Northwest, MDU provides essential energy distribution and infrastructure services to residential, commercial and industrial customers.

The Utilities segment delivers electric and natural gas distribution services in Montana, North Dakota, South Dakota, Minnesota, Kansas, Wisconsin, Michigan and Washington.