Adage Capital Partners GP L.L.C. Has $26.19 Million Position in MDU Resources Group, Inc. $MDU

Key Points

• Adage Capital Partners GP L.L.C. increased its stake in MDU Resources Group by 195.0%, acquiring over 1 million additional shares during the first quarter, bringing their total ownership to approximately 1.55 million shares valued at $26.2 million.
• MDU Resources Group reported a quarterly earnings miss with $0.07 EPS, below the expected $0.13, but exceeded revenue expectations with $351.2 million in sales.
• The company announced an increase in its quarterly dividend to $0.14 per share, effective October 1st, up from the previous $0.13, providing a 3.5% dividend yield.

Adage Capital Partners GP L.L.C. raised its stake in shares of MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 195.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,548,864 shares of the utilities provider's stock after purchasing an additional 1,023,864 shares during the period. Adage Capital Partners GP L.L.C. owned 0.76% of MDU Resources Group worth $26,191,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MDU. Bessemer Group Inc. grew its holdings in MDU Resources Group by 179.0% during the first quarter. Bessemer Group Inc. now owns 1,518 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 974 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of MDU Resources Group by 241.9% in the first quarter. GAMMA Investing LLC now owns 1,843 shares of the utilities provider's stock valued at $31,000 after acquiring an additional 1,304 shares during the period. Headlands Technologies LLC bought a new stake in shares of MDU Resources Group in the first quarter valued at approximately $48,000. Wood Tarver Financial Group LLC bought a new stake in shares of MDU Resources Group in the fourth quarter valued at approximately $82,000. Finally, Garde Capital Inc. bought a new stake in shares of MDU Resources Group in the first quarter valued at approximately $82,000. Institutional investors and hedge funds own 71.44% of the company's stock.

MDU Resources Group Stock Performance

MDU stock traded up $0.15 during midday trading on Wednesday, hitting $16.21. The stock had a trading volume of 205,106 shares, compared to its average volume of 1,670,307. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 15.27, a P/E/G ratio of 2.55 and a beta of 0.70. MDU Resources Group, Inc. has a 52 week low of $14.91 and a 52 week high of $30.52. The stock has a 50-day simple moving average of $16.67 and a 200 day simple moving average of $16.76. The company has a current ratio of 0.74, a quick ratio of 0.71 and a debt-to-equity ratio of 0.75.

MDU Resources Group (NYSE:MDU - Get Free Report) last issued its earnings results on Thursday, August 7th. The utilities provider reported $0.07 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.06). The firm had revenue of $351.20 million during the quarter, compared to the consensus estimate of $315.67 million. MDU Resources Group had a return on equity of 8.29% and a net margin of 8.25%.The firm's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the business earned $0.32 earnings per share. MDU Resources Group has set its FY 2025 guidance at 0.880-0.950 EPS. As a group, equities research analysts anticipate that MDU Resources Group, Inc. will post 0.94 earnings per share for the current year.

MDU Resources Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Thursday, September 11th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 3.5%. This is an increase from MDU Resources Group's previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, September 11th. MDU Resources Group's dividend payout ratio (DPR) is 52.83%.

Insider Buying and Selling

In other news, CFO Jason L. Vollmer bought 5,000 shares of MDU Resources Group stock in a transaction that occurred on Monday, September 8th. The stock was purchased at an average cost of $16.07 per share, with a total value of $80,350.00. Following the completion of the transaction, the chief financial officer directly owned 344,548 shares in the company, valued at $5,536,886.36. This trade represents a 1.47% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.94% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut MDU Resources Group from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $18.00.

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.