Morgan Stanley Has $5.29 Million Stake in Mdu Resources Group Inc (NYSE:MDU)

Morgan Stanley boosted its position in shares of Mdu Resources Group Inc (NYSE:MDU) by 3.1% during the second quarter, HoldingsChannel reports. The institutional investor owned 204,947 shares of the utilities provider’s stock after purchasing an additional 6,074 shares during the period. Morgan Stanley’s holdings in Mdu Resources Group were worth $5,287,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Personal Wealth Partners acquired a new stake in Mdu Resources Group during the second quarter worth about $28,000. CWM LLC acquired a new stake in shares of Mdu Resources Group in the 2nd quarter valued at approximately $31,000. Country Trust Bank acquired a new stake in shares of Mdu Resources Group in the 2nd quarter valued at approximately $35,000. NumerixS Investment Technologies Inc acquired a new stake in shares of Mdu Resources Group in the 2nd quarter valued at approximately $46,000. Finally, Captrust Financial Advisors boosted its stake in shares of Mdu Resources Group by 142.3% in the 2nd quarter. Captrust Financial Advisors now owns 6,914 shares of the utilities provider’s stock valued at $180,000 after purchasing an additional 4,060 shares in the last quarter. Hedge funds and other institutional investors own 68.16% of the company’s stock.

MDU opened at $28.09 on Wednesday. The company’s 50 day moving average is $27.82 and its 200-day moving average is $26.41. Mdu Resources Group Inc has a 1-year low of $22.73 and a 1-year high of $28.82. The company has a current ratio of 1.58, a quick ratio of 1.23 and a debt-to-equity ratio of 0.91. The company has a market cap of $5.57 billion, a P/E ratio of 20.36, a PEG ratio of 2.63 and a beta of 0.65.

Mdu Resources Group (NYSE:MDU) last posted its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. Mdu Resources Group had a net margin of 5.91% and a return on equity of 11.11%. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period last year, the company posted $0.22 EPS. The firm’s quarterly revenue was up 22.4% compared to the same quarter last year. On average, equities analysts forecast that Mdu Resources Group Inc will post 1.5 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Thursday, September 12th were paid a $0.2025 dividend. The ex-dividend date of this dividend was Wednesday, September 11th. This represents a $0.81 dividend on an annualized basis and a dividend yield of 2.88%. Mdu Resources Group’s payout ratio is currently 58.70%.

Separately, Williams Capital raised their price target on shares of Mdu Resources Group from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, September 16th.

Mdu Resources Group Profile

MDU Resources Group, Inc engages in regulated energy delivery, and construction materials and services businesses in the United States. It operates through five segments: Electric, Natural Gas Distribution, Pipeline and Midstream, Construction Materials and Contracting, and Construction Services. The Electric segment generates, transmits, and distributes electricity in Montana, North Dakota, South Dakota, and Wyoming.

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

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