297,903 Shares in MDU Resources Group, Inc. $MDU Bought by Man Group plc

Man Group plc bought a new position in MDU Resources Group, Inc. (NYSE:MDU) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 297,903 shares of the utilities provider’s stock, valued at approximately $6,319,000.

Several other institutional investors and hedge funds also recently made changes to their positions in MDU. Oppenheimer Asset Management Inc. boosted its stake in shares of MDU Resources Group by 604.3% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 158,043 shares of the utilities provider’s stock worth $3,085,000 after buying an additional 135,602 shares during the last quarter. Comerica Bank increased its position in shares of MDU Resources Group by 22.3% during the fourth quarter. Comerica Bank now owns 243,107 shares of the utilities provider’s stock valued at $4,745,000 after acquiring an additional 44,316 shares during the last quarter. Deutsche Bank AG bought a new stake in MDU Resources Group during the second quarter worth $8,547,000. Seven Grand Managers LLC purchased a new position in MDU Resources Group in the fourth quarter worth $2,928,000. Finally, Bessemer Group Inc. grew its stake in MDU Resources Group by 47.0% in the 1st quarter. Bessemer Group Inc. now owns 285,186 shares of the utilities provider’s stock valued at $5,909,000 after purchasing an additional 91,140 shares during the period. Hedge funds and other institutional investors own 71.44% of the company’s stock.

Wall Street Analyst Weigh In

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

MDU Resources Group Trading Down 1.8%

Shares of MDU opened at $19.82 on Friday. MDU Resources Group, Inc. has a twelve month low of $15.76 and a twelve month high of $22.98. The stock has a market cap of $4.06 billion, a PE ratio of 20.86, a P/E/G ratio of 3.65 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 business’s 50-day moving average price is $20.70 and its 200-day moving average price is $21.08.

MDU Resources Group (NYSE:MDU) last released its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. MDU Resources Group had a net margin of 10.75% and a return on equity of 6.89%. The firm had revenue of $375.30 million during the quarter, compared to analyst estimates of $396.56 million. During the same period in the previous year, the business earned $0.07 EPS. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. MDU Resources Group has set its FY 2026 guidance at 0.930-1.000 EPS. On average, equities analysts forecast that MDU Resources Group, Inc. will post 0.98 EPS for the current fiscal year.

MDU Resources Group Increases Dividend

The firm also recently disclosed 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 is Thursday, September 10th. This is a positive change from MDU Resources Group’s previous quarterly dividend of $0.14. MDU Resources Group’s dividend payout ratio (DPR) is presently 61.05%.

MDU Resources Group Profile

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.