49,545 Shares in MDU Resources Group Inc (MDU) Acquired by Coldstream Capital Management Inc.
Coldstream Capital Management Inc. acquired a new position in MDU Resources Group Inc (NYSE:MDU) during the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 49,545 shares of the utilities provider’s stock, valued at approximately $1,286,000.
Several other institutional investors have also added to or reduced their stakes in the stock. Janney Montgomery Scott LLC boosted its position in shares of MDU Resources Group by 31.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 12,978 shares of the utilities provider’s stock worth $337,000 after buying an additional 3,075 shares in the last quarter. Patten Group Inc. boosted its position in shares of MDU Resources Group by 20.7% in the 3rd quarter. Patten Group Inc. now owns 57,386 shares of the utilities provider’s stock worth $1,244,000 after buying an additional 9,839 shares in the last quarter. AMP Capital Investors Ltd boosted its position in shares of MDU Resources Group by 108.0% in the 3rd quarter. AMP Capital Investors Ltd now owns 47,463 shares of the utilities provider’s stock worth $1,232,000 after buying an additional 24,648 shares in the last quarter. Engineers Gate Manager LP boosted its position in shares of MDU Resources Group by 26.9% in the 3rd quarter. Engineers Gate Manager LP now owns 70,959 shares of the utilities provider’s stock worth $1,841,000 after buying an additional 15,051 shares in the last quarter. Finally, Convergence Investment Partners LLC purchased a new stake in shares of MDU Resources Group in the 3rd quarter worth about $1,600,000. Institutional investors and hedge funds own 63.61% of the company’s stock.
A number of research analysts have issued reports on the stock. KeyCorp restated a “buy” rating and issued a $28.00 target price on shares of MDU Resources Group in a report on Friday, October 20th. Zacks Investment Research upgraded shares of MDU Resources Group from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $30.75.
MDU Resources Group (NYSE:MDU) last released its earnings results on Wednesday, November 1st. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.03). The firm had revenue of $1.27 billion during the quarter. MDU Resources Group had a net margin of 5.39% and a return on equity of 10.20%. During the same quarter last year, the business posted $0.45 EPS. equities analysts predict that MDU Resources Group Inc will post 1.19 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Thursday, December 14th will be issued a $0.1975 dividend. This represents a $0.79 dividend on an annualized basis and a yield of 2.83%. This is a positive change from MDU Resources Group’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Wednesday, December 13th. MDU Resources Group’s dividend payout ratio is 65.25%.
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MDU Resources Group Company Profile
MDU Resources Group, Inc is engaged in regulated energy delivery and construction materials and services business. The Company’s businesses segments are electric, natural gas distribution, pipeline and midstream, construction materials and contracting, and construction services. The electric segment generates, transmits and distributes electricity.
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