Resolute Capital Asset Partners LLC Buys New Position in MDU Resources Group, Inc. (NYSE:MDU)

Resolute Capital Asset Partners LLC purchased a new position in shares of MDU Resources Group, Inc. (NYSE:MDU) during the second quarter, Holdings Channel.com reports. The fund purchased 80,000 shares of the utilities provider’s stock, valued at approximately $2,008,000.

Other hedge funds have also made changes to their positions in the company. Atlas Capital Advisors LLC acquired a new position in shares of MDU Resources Group in the second quarter valued at approximately $27,000. TFO Wealth Partners LLC grew its stake in shares of MDU Resources Group by 16,070.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,617 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 1,607 shares in the last quarter. Tompkins Financial Corp increased its position in shares of MDU Resources Group by 22.2% during the first quarter. Tompkins Financial Corp now owns 4,404 shares of the utilities provider’s stock worth $111,000 after acquiring an additional 800 shares during the period. Mendota Financial Group LLC raised its stake in shares of MDU Resources Group by 32.9% in the first quarter. Mendota Financial Group LLC now owns 5,920 shares of the utilities provider’s stock valued at $149,000 after acquiring an additional 1,465 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in MDU Resources Group by 129.3% in the fourth quarter. Jones Financial Companies Lllp now owns 8,977 shares of the utilities provider’s stock valued at $178,000 after purchasing an additional 5,062 shares during the period. Institutional investors and hedge funds own 71.44% of the company’s stock.

Analysts Set New Price Targets

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 Stock Down 1.0 %

Shares of NYSE:MDU opened at $26.15 on Thursday. MDU Resources Group, Inc. has a fifty-two week low of $18.04 and a fifty-two week high of $27.78. The firm’s 50 day moving average price is $25.57 and its 200 day moving average price is $24.87. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 0.73. The stock has a market cap 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.

MDU Resources Group (NYSE:MDU) last released its quarterly earnings data on Thursday, August 8th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.29 EPS. As a group, equities research analysts predict that MDU Resources Group, Inc. will post 1.55 earnings per share for the current fiscal year.

MDU Resources Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Thursday, September 12th will be issued a $0.13 dividend. 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 an increase from MDU Resources Group’s previous quarterly dividend of $0.13. MDU Resources Group’s dividend payout ratio 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.