GWM Advisors LLC acquired a new position in shares of MDU Resources Group Inc (NYSE:MDU) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 75,864 shares of the utilities provider’s stock, valued at approximately $2,186,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of MDU. Clarus Wealth Advisors acquired a new stake in shares of MDU Resources Group during the 2nd quarter worth approximately $108,000. TLP Group LLC grew its stake in MDU Resources Group by 268,566.7% in the 1st quarter. TLP Group LLC now owns 8,060 shares of the utilities provider’s stock valued at $227,000 after acquiring an additional 8,057 shares during the period. CNB Bank acquired a new stake in MDU Resources Group in the 4th quarter valued at $296,000. AXA acquired a new stake in MDU Resources Group in the 4th quarter valued at $441,000. Finally, 6 Meridian acquired a new stake in MDU Resources Group in the 1st quarter valued at $478,000. 64.33% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on MDU shares. Zacks Investment Research cut shares of MDU Resources Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. KeyCorp lifted their price target on shares of MDU Resources Group from $29.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $29.33.
MDU Resources Group (NYSE:MDU) last released its quarterly earnings results on Wednesday, May 2nd. The utilities provider reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. MDU Resources Group had a net margin of 6.39% and a return on equity of 10.59%. The firm had revenue of $976.30 million for the quarter. During the same period in the prior year, the business posted $0.18 EPS. MDU Resources Group’s revenue was up 4.1% compared to the same quarter last year. analysts forecast that MDU Resources Group Inc will post 1.38 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Sunday, July 1st. Investors of record on Thursday, June 14th were paid a $0.1975 dividend. The ex-dividend date was Wednesday, June 13th. This represents a $0.79 dividend on an annualized basis and a yield of 2.69%. MDU Resources Group’s dividend payout ratio is currently 63.20%.
About MDU Resources Group
MDU Resources Group, Inc engages in regulated energy delivery, and construction materials and services businesses in the United States. The company operates through five segments: Electric, Natural Gas Distribution, Pipeline and Midstream, Construction Materials and Contracting, and Construction Services.
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