Jupiter Asset Management Ltd. Purchases 387,173 Shares of MDU Resources Group, Inc. (NYSE:MDU)

Jupiter Asset Management Ltd. raised its position in MDU Resources Group, Inc. (NYSE:MDU) by 40.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,334,820 shares of the utilities provider’s stock after acquiring an additional 387,173 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in MDU Resources Group were worth $24,053,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of MDU. Hennessy Advisors Inc. increased its position in shares of MDU Resources Group by 1,098.5% during the 4th quarter. Hennessy Advisors Inc. now owns 2,155,007 shares of the utilities provider’s stock valued at $38,833,000 after purchasing an additional 1,975,200 shares during the last quarter. Principal Financial Group Inc. grew its position in MDU Resources Group by 109.3% during the fourth quarter. Principal Financial Group Inc. now owns 988,008 shares of the utilities provider’s stock valued at $17,804,000 after buying an additional 515,878 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in MDU Resources Group by 18.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,114,019 shares of the utilities provider’s stock valued at $37,926,000 after buying an additional 331,481 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in MDU Resources Group by 18.2% during the fourth quarter. Bank of New York Mellon Corp now owns 2,110,595 shares of the utilities provider’s stock valued at $38,033,000 after buying an additional 324,757 shares during the last quarter. Finally, Advisors Preferred LLC bought a new position in MDU Resources Group in the fourth quarter worth approximately $5,691,000. 71.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on MDU. Jefferies Financial Group assumed coverage on MDU Resources Group in a research note on Wednesday, January 8th. They issued a “hold” rating and a $18.00 price objective for the company. StockNews.com lowered MDU Resources Group from a “hold” rating to a “sell” rating in a report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $21.00.

Insiders Place Their Bets

In related news, Director Dennis W. Johnson acquired 30,000 shares of MDU Resources Group stock in a transaction dated Monday, February 10th. The shares were purchased at an average price of $16.64 per share, for a total transaction of $499,200.00. Following the completion of the transaction, the director now directly owns 180,166 shares in the company, valued at approximately $2,997,962.24. This represents a 19.98 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

MDU Resources Group Stock Performance

Shares of NYSE MDU opened at $16.73 on Thursday. The stock has a market cap of $3.42 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 2.76 and a beta of 0.81. MDU Resources Group, Inc. has a 1 year low of $14.91 and a 1 year high of $30.52. The firm has a fifty day moving average price of $17.40 and a 200-day moving average price of $21.12. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.15 and a quick ratio of 1.07.

MDU Resources Group (NYSE:MDU) last issued its quarterly earnings results on Thursday, February 6th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. MDU Resources Group had a return on equity of 10.20% and a net margin of 7.31%. Equities analysts anticipate that MDU Resources Group, Inc. will post 0.94 earnings per share for the current fiscal year.

MDU Resources Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Thursday, March 13th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.52 dividend on an annualized basis and a yield of 3.11%. MDU Resources Group’s dividend payout ratio is presently 37.68%.

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.