KBC Group NV Grows Position in MDU Resources Group, Inc. (NYSE:MDU)

KBC Group NV boosted its stake in shares of MDU Resources Group, Inc. (NYSE:MDU) by 55.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,553 shares of the utilities provider’s stock after purchasing an additional 3,034 shares during the period. KBC Group NV’s holdings in MDU Resources Group were worth $154,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in MDU. Hennessy Advisors Inc. raised its position in shares of MDU Resources Group by 1,098.5% in the 4th quarter. Hennessy Advisors Inc. now owns 2,155,007 shares of the utilities provider’s stock worth $38,833,000 after buying an additional 1,975,200 shares during the period. Beacon Harbor Wealth Advisors Inc. acquired a new stake in MDU Resources Group during the third quarter worth about $6,351,000. Algert Global LLC raised its holdings in shares of MDU Resources Group by 453.6% in the 3rd quarter. Algert Global LLC now owns 282,573 shares of the utilities provider’s stock worth $7,745,000 after purchasing an additional 231,530 shares during the period. Needham Investment Management LLC raised its holdings in shares of MDU Resources Group by 98.8% in the 3rd quarter. Needham Investment Management LLC now owns 427,500 shares of the utilities provider’s stock worth $11,718,000 after purchasing an additional 212,500 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of MDU Resources Group by 32.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 855,493 shares of the utilities provider’s stock valued at $23,449,000 after purchasing an additional 209,042 shares in the last quarter. Institutional investors and hedge funds own 71.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on MDU shares. StockNews.com began coverage on shares of MDU Resources Group in a research report on Friday, January 3rd. They set a “hold” rating for the company. Jefferies Financial Group initiated coverage on shares of MDU Resources Group in a research report on Wednesday, January 8th. They issued a “hold” rating and a $18.00 price objective for the company. Siebert Williams Shank upgraded shares of MDU Resources Group from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Monday, November 4th. Finally, Bank of America upgraded MDU Resources Group from a “neutral” rating to a “buy” rating and lowered their price target for the company from $31.00 to $17.00 in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $21.00.

MDU Resources Group Stock Down 5.7 %

Shares of NYSE:MDU opened at $16.97 on Friday. The company has a 50 day moving average of $18.39 and a two-hundred day moving average of $22.65. MDU Resources Group, Inc. has a 52-week low of $14.91 and a 52-week high of $30.52. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of 8.70, a price-to-earnings-growth ratio of 2.67 and a beta of 0.80.

MDU Resources Group (NYSE:MDU) last released its quarterly earnings results on Thursday, February 6th. The utilities provider reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. MDU Resources Group had a net margin of 8.92% and a return on equity of 11.24%. As a group, analysts forecast that MDU Resources Group, Inc. will post 1.09 earnings per share for the current fiscal year.

MDU Resources Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Thursday, December 12th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, December 12th. This represents a $0.52 dividend on an annualized basis and a yield of 3.07%. MDU Resources Group’s dividend payout ratio (DPR) is presently 26.67%.

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.