Norges Bank Acquires Shares of 3,054,154 MDU Resources Group, Inc. $MDU

Norges Bank acquired a new stake in shares of MDU Resources Group, Inc. (NYSE:MDU) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,054,154 shares of the utilities provider’s stock, valued at approximately $59,617,000.

A number of other large investors have also added to or reduced their stakes in the stock. Clear Creek Financial Management LLC bought a new stake in shares of MDU Resources Group in the 3rd quarter worth $487,000. Alpine Global Management LLC bought a new stake in shares of MDU Resources Group in the 3rd quarter worth $2,216,000. Perpetual Ltd bought a new stake in shares of MDU Resources Group in the 4th quarter worth $22,031,000. Comerica Bank increased its holdings in shares of MDU Resources Group by 22.3% in the 4th quarter. Comerica Bank now owns 243,107 shares of the utilities provider’s stock worth $4,745,000 after purchasing an additional 44,316 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in shares of MDU Resources Group by 490.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 294,629 shares of the utilities provider’s stock worth $5,751,000 after purchasing an additional 244,733 shares in the last quarter. Hedge funds and other institutional investors own 71.44% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on MDU. TD Cowen lifted their target price on MDU Resources Group to $22.00 and gave the stock a “hold” rating in a report on Friday, May 15th. Loop Capital set a $21.00 target price on MDU Resources Group in a report on Tuesday, February 24th. Weiss Ratings reissued a “hold (c)” rating on shares of MDU Resources Group in a report on Friday, April 10th. Finally, JPMorgan Chase & Co. began coverage on MDU Resources Group in a report on Thursday, April 16th. They issued a “neutral” rating and a $22.00 target price for the company. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, MDU Resources Group has a consensus rating of “Hold” and an average target price of $21.75.

MDU Resources Group Stock Performance

NYSE:MDU opened at $21.37 on Monday. The stock has a 50-day simple moving average of $21.79 and a two-hundred day simple moving average of $20.82. MDU Resources Group, Inc. has a 52-week low of $15.76 and a 52-week high of $22.98. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.75 and a current ratio of 0.78. The firm has a market capitalization of $4.37 billion, a PE ratio of 23.22, a P/E/G ratio of 3.95 and a beta of 0.66.

MDU Resources Group (NYSE:MDU) last released its quarterly earnings results on Thursday, May 7th. The utilities provider reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.03). MDU Resources Group had a net margin of 10.47% and a return on equity of 6.82%. The company had revenue of $605.98 million for the quarter, compared to the consensus estimate of $688.34 million. During the same period in the prior year, the firm posted $0.40 EPS. The business’s revenue for the quarter was down 10.2% on a year-over-year basis. MDU Resources Group has set its FY 2026 guidance at 0.930-1.000 EPS. Analysts forecast that MDU Resources Group, Inc. will post 0.98 EPS for the current year.

MDU Resources Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Thursday, June 11th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Thursday, June 11th. MDU Resources Group’s payout ratio is presently 60.87%.

About MDU Resources Group

MDU Resources Group, Inc is a diversified energy and services holding company headquartered in Bismarck, North Dakota. The company operates through two primary segments: Utilities and Construction Services and Pipelines & Midstream. Serving a broad geographic footprint across the upper Midwest and Pacific Northwest, MDU provides essential energy distribution and infrastructure services to residential, commercial and industrial customers.

The Utilities segment delivers electric and natural gas distribution services in Montana, North Dakota, South Dakota, Minnesota, Kansas, Wisconsin, Michigan and Washington.