Place beets in large saucepan with cold water to cover. Boil, partially covered, until beets are just tender, 20 to 30 minutes. Drain. When cool enough to handle, trim stems; slip off skins. Cut into wedges.
Grate rind from orange; squeeze juice to yield 1/4 cup.
Combine orange juice, chicken broth, vinegar, lemon juice and sugar in medium-size saucepan. Bring to boiling. Add beets; cook, stirring occasionally, until well glazed, about 10 minutes. Stir in butter, salt, pepper and reserved orange rind. Serve warm. Makes 8 servings.