34,500 Shares in MDU Resources Group, Inc. (NYSE:MDU) Acquired by Empowered Funds LLC

Empowered Funds LLC acquired a new position in shares of MDU Resources Group, Inc. (NYSE:MDUGet Rating) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 34,500 shares of the utilities provider’s stock, valued at approximately $944,000.

A number of other hedge funds have also recently made changes to their positions in MDU. Corvex Management LP purchased a new position in shares of MDU Resources Group during the 2nd quarter worth approximately $235,576,000. State Street Corp lifted its holdings in MDU Resources Group by 17.5% during the 2nd quarter. State Street Corp now owns 18,179,599 shares of the utilities provider’s stock worth $494,530,000 after buying an additional 2,711,439 shares in the last quarter. Franklin Resources Inc. lifted its holdings in MDU Resources Group by 99.5% during the 2nd quarter. Franklin Resources Inc. now owns 4,410,444 shares of the utilities provider’s stock worth $119,038,000 after buying an additional 2,199,575 shares in the last quarter. River Road Asset Management LLC acquired a new stake in MDU Resources Group during the 2nd quarter worth approximately $49,995,000. Finally, Invesco Ltd. lifted its holdings in MDU Resources Group by 55.2% during the 1st quarter. Invesco Ltd. now owns 1,852,604 shares of the utilities provider’s stock worth $49,372,000 after buying an additional 659,078 shares in the last quarter. Hedge funds and other institutional investors own 70.83% of the company’s stock.

MDU Resources Group Price Performance

Shares of MDU opened at $30.80 on Wednesday. MDU Resources Group, Inc. has a twelve month low of $24.92 and a twelve month high of $32.19. The firm’s fifty day simple moving average is $30.54 and its 200-day simple moving average is $29.54. The firm has a market capitalization of $6.26 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 2.50 and a beta of 0.74. The company has a current ratio of 1.38, a quick ratio of 1.11 and a debt-to-equity ratio of 0.79.

MDU Resources Group (NYSE:MDUGet Rating) last announced its quarterly earnings data on Thursday, November 3rd. The utilities provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.06. MDU Resources Group had a net margin of 5.14% and a return on equity of 10.01%. The business had revenue of $1.98 billion for the quarter. Equities analysts forecast that MDU Resources Group, Inc. will post 1.81 EPS for the current fiscal year.

MDU Resources Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, January 1st. Stockholders of record on Thursday, December 8th were issued a $0.2225 dividend. This represents a $0.89 dividend on an annualized basis and a dividend yield of 2.89%. This is a positive change from MDU Resources Group’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, December 7th. MDU Resources Group’s dividend payout ratio (DPR) is presently 53.61%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MDU shares. Bank of America lowered shares of MDU Resources Group from a “neutral” rating to an “underperform” rating in a report on Monday, October 24th. StockNews.com started coverage on shares of MDU Resources Group in a report on Wednesday, October 12th. They set a “hold” rating on the stock.

MDU Resources Group Profile

(Get Rating)

MDU Resources Group, Inc engages in the provision of natural resource products and related services to energy and transportation infrastructure. It operates through the following business segments: Electric, Natural Gas Distribution, Pipeline and Midstream, Construction Materials and Contracting, Construction Services, and Other.

Further Reading

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

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