231,541 Shares in MDU Resources Group, Inc. $MDU Bought by Magellan Asset Management Ltd

Magellan Asset Management Ltd bought a new position in shares of MDU Resources Group, Inc. (NYSE:MDU) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 231,541 shares of the utilities provider’s stock, valued at approximately $4,911,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Arkadios Wealth Advisors grew its position in shares of MDU Resources Group by 1.7% in the 1st quarter. Arkadios Wealth Advisors now owns 27,316 shares of the utilities provider’s stock valued at $566,000 after purchasing an additional 449 shares during the period. DMKC Advisory Services LLC raised its holdings in MDU Resources Group by 4.2% during the 4th quarter. DMKC Advisory Services LLC now owns 15,048 shares of the utilities provider’s stock worth $294,000 after buying an additional 600 shares during the period. Rockefeller Capital Management L.P. lifted its stake in MDU Resources Group by 40.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,101 shares of the utilities provider’s stock valued at $41,000 after buying an additional 605 shares in the last quarter. Private Advisor Group LLC raised its stake in shares of MDU Resources Group by 0.9% in the 1st quarter. Private Advisor Group LLC now owns 70,442 shares of the utilities provider’s stock valued at $1,460,000 after purchasing an additional 612 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in shares of MDU Resources Group by 4.1% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 16,577 shares of the utilities provider’s stock worth $324,000 after buying an additional 652 shares in the last quarter. 71.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Wells Fargo & Company initiated coverage on MDU Resources Group in a research report on Monday, July 13th. They set an “overweight” rating and a $25.00 price target for the company. JPMorgan Chase & Co. raised shares of MDU Resources Group from a “neutral” rating to an “overweight” rating and set a $27.00 price objective on the stock in a research report on Thursday, August 6th. TD Cowen increased their target price on shares of MDU Resources Group to $22.00 and gave the stock a “hold” rating in a report on Friday, May 15th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of MDU Resources Group in a research report on Wednesday, July 8th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, MDU Resources Group presently has a consensus rating of “Hold” and a consensus price target of $23.40.

MDU Resources Group Stock Up 0.1%

NYSE:MDU opened at $19.97 on Monday. MDU Resources Group, Inc. has a twelve month low of $15.76 and a twelve month high of $22.98. The firm has a market capitalization of $4.09 billion, a price-to-earnings ratio of 21.02, a price-to-earnings-growth ratio of 3.68 and a beta of 0.67. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 0.88. The stock’s 50 day moving average price is $20.80 and its two-hundred day moving average price is $21.10.

MDU Resources Group (NYSE:MDU) last released its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. MDU Resources Group had a return on equity of 6.89% and a net margin of 10.75%.The company had revenue of $375.30 million during the quarter, compared to the consensus estimate of $396.56 million. During the same quarter in the prior year, the firm posted $0.07 EPS. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. MDU Resources Group has set its FY 2026 guidance at 0.930-1.000 EPS. Equities research analysts expect that MDU Resources Group, Inc. will post 0.98 earnings per share for the current fiscal year.

MDU Resources Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th will be issued a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Thursday, September 10th. This is a positive change from MDU Resources Group’s previous quarterly dividend of $0.14. MDU Resources Group’s payout ratio is currently 61.05%.

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.