Quest Partners LLC Takes Position in MDU Resources Group, Inc. (NYSE:MDU)

Quest Partners LLC purchased a new stake in MDU Resources Group, Inc. (NYSE:MDU) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 48,630 shares of the utilities provider’s stock, valued at approximately $963,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MDU. Fifth Third Bancorp lifted its stake in MDU Resources Group by 50.1% in the 3rd quarter. Fifth Third Bancorp now owns 2,265 shares of the utilities provider’s stock valued at $44,000 after buying an additional 756 shares in the last quarter. Planned Solutions Inc. acquired a new stake in shares of MDU Resources Group during the 4th quarter worth approximately $66,000. Tompkins Financial Corp increased its holdings in shares of MDU Resources Group by 89.7% during the 4th quarter. Tompkins Financial Corp now owns 3,604 shares of the utilities provider’s stock worth $71,000 after buying an additional 1,704 shares during the last quarter. Anchor Investment Management LLC acquired a new stake in shares of MDU Resources Group during the 4th quarter worth approximately $178,000. Finally, Neo Ivy Capital Management acquired a new stake in shares of MDU Resources Group during the 3rd quarter worth approximately $182,000. 71.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MDU. Argus upgraded shares of MDU Resources Group from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a report on Monday. StockNews.com downgraded shares of MDU Resources Group from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd.

Insiders Place Their Bets

In related news, insider Rob L. Johnson acquired 36,291 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was bought at an average cost of $25.46 per share, with a total value of $923,968.86. Following the acquisition, the insider now directly owns 41,934 shares in the company, valued at $1,067,639.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.59% of the stock is owned by company insiders.

MDU Resources Group Price Performance

MDU traded down $0.05 on Tuesday, hitting $25.82. 389,787 shares of the company were exchanged, compared to its average volume of 1,237,551. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.37 and a current ratio of 1.43. The business’s fifty day moving average is $24.42 and its 200 day moving average is $21.41. MDU Resources Group, Inc. has a fifty-two week low of $18.04 and a fifty-two week high of $25.99. The firm has a market capitalization of $5.26 billion, a P/E ratio of 11.06, a price-to-earnings-growth ratio of 2.74 and a beta of 0.78.

MDU Resources Group (NYSE:MDU) last posted its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.05. MDU Resources Group had a net margin of 10.74% and a return on equity of 11.42%. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the firm posted $0.23 earnings per share. MDU Resources Group’s revenue was down 15.1% on a year-over-year basis. As a group, sell-side analysts anticipate that MDU Resources Group, Inc. will post 1.55 EPS for the current year.

MDU Resources Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Thursday, June 13th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Thursday, June 13th. MDU Resources Group’s payout ratio is 21.37%.

MDU Resources Group Profile

MDU Resources Group, Inc engages in the regulated energy delivery, and construction materials and services businesses in the United States. It operates through four segments: Electric, Natural Gas Distribution, Pipeline, and Construction Services. The Electric segment generates, transmits, and distributes electricity for residential, commercial, industrial, and municipal customers in Montana, North Dakota, South Dakota, and Wyoming; and operates 3,400 miles of transmission lines, 4,800 miles of distribution lines, and 82 transmission and 298 distribution substations.