MDU Resources Group, Inc. (NYSE:MDU) Shares Acquired by Moors & Cabot Inc.

Moors & Cabot Inc. lifted its stake in MDU Resources Group, Inc. (NYSE:MDU) by 3.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,013 shares of the utilities provider’s stock after purchasing an additional 1,415 shares during the period. Moors & Cabot Inc.’s holdings in MDU Resources Group were worth $1,055,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Renaissance Technologies LLC purchased a new position in MDU Resources Group in the second quarter valued at $666,000. Dimensional Fund Advisors LP boosted its holdings in MDU Resources Group by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 7,491,990 shares of the utilities provider’s stock valued at $188,049,000 after purchasing an additional 563,424 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in MDU Resources Group by 6.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,151,361 shares of the utilities provider’s stock valued at $28,899,000 after purchasing an additional 70,505 shares during the period. Inspire Advisors LLC purchased a new position in MDU Resources Group in the second quarter valued at $230,000. Finally, Oppenheimer Asset Management Inc. boosted its holdings in MDU Resources Group by 28.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 28,119 shares of the utilities provider’s stock valued at $706,000 after purchasing an additional 6,249 shares during the period. 71.44% of the stock is currently owned by hedge funds and other institutional investors.

MDU Resources Group Stock Down 1.0 %

Shares of NYSE MDU opened at $26.15 on Thursday. The company has a market capitalization of $5.33 billion, a price-to-earnings ratio of 11.18, a price-to-earnings-growth ratio of 2.70 and a beta of 0.77. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.22 and a quick ratio of 1.15. The business has a 50-day moving average of $25.57 and a two-hundred day moving average of $24.87. MDU Resources Group, Inc. has a 1 year low of $18.04 and a 1 year high of $27.78.

MDU Resources Group (NYSE:MDU) last announced its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.11. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.06 billion. MDU Resources Group had a return on equity of 11.29% and a net margin of 9.25%. MDU Resources Group’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.29 EPS. On average, analysts forecast that MDU Resources Group, Inc. will post 1.55 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 Tuesday, October 1st. Stockholders of record on Thursday, September 12th will be given a dividend of $0.13 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.99%. This is a boost from MDU Resources Group’s previous quarterly dividend of $0.13. MDU Resources Group’s payout ratio is 22.22%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded MDU Resources Group from a “buy” rating to a “hold” rating in a report on Friday, July 26th.

MDU Resources Group Company 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.