Oak Thistle LLC Buys Shares of 15,431 MDU Resources Group, Inc. (NYSE:MDU)

Key Points

• Oak Thistle LLC has purchased 15,431 shares of MDU Resources Group, valued at approximately $261,000, marking a new position for the fund in the first quarter.
• MDU Resources Group reported a quarterly EPS of $0.40, exceeding the consensus estimate, along with a 14.7% increase in revenue compared to the prior year.
• Wall Street analysts have recently upgraded MDU from a "sell" rating to a "hold" rating, indicating a more favorable outlook for the company.

Oak Thistle LLC acquired a new stake in shares of MDU Resources Group, Inc. (NYSE:MDU - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 15,431 shares of the utilities provider's stock, valued at approximately $261,000.

A number of other institutional investors also recently added to or reduced their stakes in MDU. Mackenzie Financial Corp boosted its position in MDU Resources Group by 3.5% in the fourth quarter. Mackenzie Financial Corp now owns 18,974 shares of the utilities provider's stock valued at $342,000 after buying an additional 650 shares in the last quarter. Dakota Wealth Management boosted its holdings in shares of MDU Resources Group by 1.3% in the 1st quarter. Dakota Wealth Management now owns 75,678 shares of the utilities provider's stock worth $1,289,000 after acquiring an additional 965 shares in the last quarter. Bessemer Group Inc. boosted its stake in MDU Resources Group by 179.0% in the first quarter. Bessemer Group Inc. now owns 1,518 shares of the utilities provider's stock worth $25,000 after purchasing an additional 974 shares in the last quarter. Atlas Capital Advisors Inc. boosted its stake in MDU Resources Group by 84.4% in the fourth quarter. Atlas Capital Advisors Inc. now owns 2,487 shares of the utilities provider's stock worth $45,000 after purchasing an additional 1,138 shares in the last quarter. Finally, Riverwater Partners LLC boosted its stake in MDU Resources Group by 2.3% in the fourth quarter. Riverwater Partners LLC now owns 50,714 shares of the utilities provider's stock worth $914,000 after purchasing an additional 1,151 shares in the last quarter. 71.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of MDU Resources Group from a "sell" rating to a "hold" rating in a research report on Monday, May 12th.

MDU Resources Group Trading Up 0.3%

NYSE:MDU traded up $0.05 during trading hours on Tuesday, hitting $16.93. 161,053 shares of the stock were exchanged, compared to its average volume of 1,678,416. The company has a market capitalization of $3.46 billion, a P/E ratio of 13.12, a price-to-earnings-growth ratio of 2.58 and a beta of 0.70. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.74. The company's 50 day moving average is $16.76 and its two-hundred day moving average is $16.95. MDU Resources Group, Inc. has a twelve month low of $14.91 and a twelve month high of $30.52.

MDU Resources Group (NYSE:MDU - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04. MDU Resources Group had a return on equity of 9.86% and a net margin of 7.93%. The business had revenue of $674.80 million for the quarter, compared to analyst estimates of $653.13 million. During the same quarter in the prior year, the firm posted $0.52 earnings per share. The firm's revenue for the quarter was up 14.7% compared to the same quarter last year. On average, sell-side 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 disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Thursday, June 12th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 3.07%. MDU Resources Group's dividend payout ratio is currently 40.31%.

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.