MDU Resources Group, Inc. (MDU) Position Raised by Burney Co.
Burney Co. raised its stake in shares of MDU Resources Group, Inc. (NYSE:MDU) by 598.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 79,685 shares of the utilities provider’s stock after buying an additional 68,268 shares during the period. Burney Co.’s holdings in MDU Resources Group were worth $2,181,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new position in shares of MDU Resources Group during the fourth quarter valued at approximately $52,324,000. AQR Capital Management LLC increased its stake in MDU Resources Group by 66.5% in the fourth quarter. AQR Capital Management LLC now owns 44,078 shares of the utilities provider’s stock worth $1,268,000 after buying an additional 17,609 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in MDU Resources Group during the fourth quarter worth approximately $322,000. Rainier Investment Management LLC purchased a new stake in MDU Resources Group during the third quarter worth approximately $14,500,000. Finally, Paradigm Asset Management Co. LLC purchased a new stake in MDU Resources Group during the fourth quarter worth approximately $678,000. Institutional investors and hedge funds own 63.87% of the company’s stock.
Shares of MDU Resources Group, Inc. (MDU) opened at 27.50 on Friday. MDU Resources Group, Inc. has a 52 week low of $22.47 and a 52 week high of $29.92. The company has a market capitalization of $5.37 billion, a PE ratio of 70.51 and a beta of 0.87. The firm’s 50-day moving average price is $26.66 and its 200 day moving average price is $27.50.
MDU Resources Group (NYSE:MDU) last released its quarterly earnings results on Wednesday, May 3rd. The utilities provider reported $0.18 EPS for the quarter, beating the consensus estimate of $0.17 by $0.01. The business had revenue of $937.90 million for the quarter, compared to analyst estimates of $921.39 million. MDU Resources Group had a net margin of 1.83% and a return on equity of 10.47%. During the same period in the prior year, the business earned $0.17 earnings per share. Equities analysts predict that MDU Resources Group, Inc. will post $1.20 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, July 1st. Stockholders of record on Thursday, June 8th will be given a $0.1925 dividend. The ex-dividend date of this dividend is Tuesday, June 6th. This represents a $0.77 annualized dividend and a dividend yield of 2.80%. MDU Resources Group’s dividend payout ratio is presently 202.64%.
Separately, Zacks Investment Research downgraded MDU Resources Group from a “hold” rating to a “sell” rating in a research report on Saturday, May 13th.
MDU Resources Group Company Profile
MDU Resources Group, Inc is a diversified natural resource company. Montana-Dakota Utilities Co (Montana-Dakota) is a public utility division of the Company. Montana-Dakota, through the electric and natural gas distribution segments, generates, transmits and distributes electricity and distributes natural gas.
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