Wesbanco Bank Inc. Invests $210,000 in MDU Resources Group, Inc. (NYSE:MDU)

Wesbanco Bank Inc. purchased a new stake in MDU Resources Group, Inc. (NYSE:MDU) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 7,673 shares of the utilities provider’s stock, valued at approximately $210,000.

A number of other institutional investors have also recently bought and sold shares of MDU. Atlas Capital Advisors LLC acquired a new position in shares of MDU Resources Group in the second quarter worth about $27,000. Northwestern Mutual Wealth Management Co. boosted its stake in MDU Resources Group by 23.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,142 shares of the utilities provider’s stock worth $54,000 after purchasing an additional 413 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in MDU Resources Group during the 2nd quarter worth approximately $163,000. Point72 DIFC Ltd acquired a new stake in MDU Resources Group during the 2nd quarter valued at $181,000. Finally, IVC Wealth Advisors LLC purchased a new stake in shares of MDU Resources Group in the first quarter valued at $202,000. Hedge funds and other institutional investors own 71.44% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on MDU Resources Group in a report on Saturday, October 12th. They set a “hold” rating on the stock.

MDU Resources Group Stock Performance

Shares of MDU opened at $29.83 on Thursday. The company has a market capitalization of $6.08 billion, a PE ratio of 12.75, a PEG ratio of 2.66 and a beta of 0.77. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.15 and a current ratio of 1.22. The company’s 50 day moving average price is $26.19 and its 200 day moving average price is $25.54. MDU Resources Group, Inc. has a 52 week low of $18.04 and a 52 week high of $29.89.

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

MDU Resources Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Thursday, September 12th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.74%. The ex-dividend date was Thursday, September 12th. This is a positive change from MDU Resources Group’s previous quarterly dividend of $0.13. MDU Resources Group’s dividend payout ratio (DPR) is presently 22.22%.

About MDU Resources Group

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.