A. D. Beadell Investment Counsel Inc. Has $2.62 Million Position in MDU Resources Group, Inc. (NYSE:MDU)

A. D. Beadell Investment Counsel Inc. reduced its holdings in shares of MDU Resources Group, Inc. (NYSE:MDUGet Rating) by 4.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 97,086 shares of the utilities provider’s stock after selling 4,025 shares during the period. MDU Resources Group comprises about 2.2% of A. D. Beadell Investment Counsel Inc.’s investment portfolio, making the stock its 16th biggest position. A. D. Beadell Investment Counsel Inc.’s holdings in MDU Resources Group were worth $2,620,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. State Street Corp boosted its position in MDU Resources Group by 12.5% in the first quarter. State Street Corp now owns 15,468,160 shares of the utilities provider’s stock valued at $415,454,000 after buying an additional 1,716,930 shares in the last quarter. Millennium Management LLC lifted its position in shares of MDU Resources Group by 233.4% during the fourth quarter. Millennium Management LLC now owns 1,837,895 shares of the utilities provider’s stock worth $56,681,000 after purchasing an additional 1,286,576 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in shares of MDU Resources Group during the fourth quarter worth approximately $21,588,000. Invesco Ltd. raised its stake in shares of MDU Resources Group by 55.2% during the first quarter. Invesco Ltd. now owns 1,852,604 shares of the utilities provider’s stock worth $49,372,000 after buying an additional 659,078 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of MDU Resources Group during the first quarter worth approximately $14,872,000. 71.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MDU has been the subject of a number of recent research reports. Bank of America downgraded shares of MDU Resources Group from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $29.00 to $30.00 in a research note on Friday, August 5th. Citigroup upped their target price on shares of MDU Resources Group to $31.00 in a research note on Monday, August 15th.

MDU Resources Group Stock Down 2.3 %

Shares of MDU stock traded down $0.66 during trading hours on Friday, hitting $28.31. 12,424 shares of the company were exchanged, compared to its average volume of 830,931. The business has a 50 day moving average of $29.60 and a two-hundred day moving average of $27.63. The company has a current ratio of 1.35, a quick ratio of 1.06 and a debt-to-equity ratio of 0.80. MDU Resources Group, Inc. has a 52 week low of $24.92 and a 52 week high of $32.19. The company has a market capitalization of $5.76 billion, a PE ratio of 17.68, a PEG ratio of 2.57 and a beta of 0.72.

MDU Resources Group (NYSE:MDUGet Rating) last issued its quarterly earnings data on Thursday, August 4th. The utilities provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.16). MDU Resources Group had a return on equity of 9.74% and a net margin of 5.32%. The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the company earned $0.50 EPS. The firm’s revenue was up 19.6% on a year-over-year basis. Analysts anticipate that MDU Resources Group, Inc. will post 1.85 earnings per share for the current fiscal year.

MDU Resources Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Thursday, September 8th will be issued a dividend of $0.2175 per share. This represents a $0.87 annualized dividend and a yield of 3.07%. The ex-dividend date is Wednesday, September 7th. MDU Resources Group’s payout ratio is 54.04%.

MDU Resources Group Company Profile

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MDU Resources Group, Inc engages in the regulated energy delivery, and construction materials and services businesses in the United States. The company's Electric segment generates, transmits, and distributes electricity for residential, commercial, industrial, and municipal customers in Montana, North Dakota, South Dakota, and Wyoming, as well as operates 3,500 miles of transmission lines and 4,800 miles of distribution lines.

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Institutional Ownership by Quarter for MDU Resources Group (NYSE:MDU)

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