Ensign Peak Advisors Inc Grows Stake in MDU Resources Group, Inc. (NYSE:MDU)

Ensign Peak Advisors Inc increased its holdings in MDU Resources Group, Inc. (NYSE:MDU) by 3.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,622 shares of the utilities provider’s stock after purchasing an additional 2,340 shares during the period. Ensign Peak Advisors Inc’s holdings in MDU Resources Group were worth $1,773,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MDU. State Board of Administration of Florida Retirement System lifted its holdings in shares of MDU Resources Group by 29.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 280,244 shares of the utilities provider’s stock worth $7,062,000 after buying an additional 63,403 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of MDU Resources Group by 17.0% during the 1st quarter. Russell Investments Group Ltd. now owns 401,619 shares of the utilities provider’s stock valued at $10,121,000 after purchasing an additional 58,220 shares during the last quarter. Meeder Asset Management Inc. grew its position in shares of MDU Resources Group by 58.2% during the first quarter. Meeder Asset Management Inc. now owns 54,111 shares of the utilities provider’s stock valued at $1,364,000 after purchasing an additional 19,916 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of MDU Resources Group in the second quarter worth about $2,198,000. Finally, First Trust Advisors LP increased its holdings in shares of MDU Resources Group by 1.8% in the fourth quarter. First Trust Advisors LP now owns 2,561,113 shares of the utilities provider’s stock worth $50,710,000 after purchasing an additional 44,067 shares during the last quarter. 71.44% of the stock is currently owned by institutional investors.

MDU Resources Group Stock Performance

Shares of MDU opened at $27.42 on Friday. The stock has a market capitalization of $5.59 billion, a PE ratio of 11.72, a P/E/G ratio of 2.62 and a beta of 0.77. The company’s fifty day moving average is $25.77 and its 200 day moving average is $25.07. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.15 and a current ratio of 1.22. MDU Resources Group, Inc. has a fifty-two week low of $18.04 and a fifty-two week high of $27.92.

MDU Resources Group (NYSE:MDU) last issued its quarterly earnings data on Thursday, August 8th. The utilities provider reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.11. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.06 billion. MDU Resources Group had a net margin of 9.25% and a return on equity of 11.29%. The business’s revenue was down 4.0% on a year-over-year basis. During the same period last year, the company posted $0.29 EPS. Sell-side analysts expect that MDU Resources Group, Inc. will post 1.58 earnings per share for the current fiscal year.

MDU Resources Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Thursday, September 12th will be paid a dividend of $0.13 per share. This is a boost from MDU Resources Group’s previous quarterly dividend of $0.13. This represents a $0.52 annualized dividend and a yield of 1.90%. The ex-dividend date is Thursday, September 12th. MDU Resources Group’s payout ratio is presently 22.22%.

Analyst Ratings Changes

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

MDU Resources Group 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.