Bank of New York Mellon Corp Invests $49.44 Million in MDU Resources Group, Inc. $MDU

Key Points

• Bank of New York Mellon purchased 2.33 million MDU Resources shares worth approximately $49.4 million, representing a 1.14% stake. Institutional investors collectively own 71.44% of the company.
• Analyst sentiment is mixed, with an average “Hold” rating and a $23.40 price target; Wells Fargo and JPMorgan recently initiated or upgraded the stock to “Overweight.”
• MDU reported quarterly EPS of $0.10, above estimates, while revenue reached $375.3 million. The company also raised its quarterly dividend to $0.145 per share, equivalent to a 2.9% annualized yield.

Bank of New York Mellon Corp purchased a new stake in MDU Resources Group, Inc. (NYSE:MDU - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,330,719 shares of the utilities provider's stock, valued at approximately $49,435,000. Bank of New York Mellon Corp owned 1.14% of MDU Resources Group at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MDU. Vanguard Group Inc. increased its position in MDU Resources Group by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 23,828,483 shares of the utilities provider's stock worth $465,132,000 after acquiring an additional 571,015 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its stake in MDU Resources Group by 41.3% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 12,894,945 shares of the utilities provider's stock worth $251,709,000 after acquiring an additional 3,766,737 shares during the period. Dimensional Fund Advisors LP raised its holdings in MDU Resources Group by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 10,285,747 shares of the utilities provider's stock valued at $213,120,000 after acquiring an additional 253,950 shares in the last quarter. Earnest Partners LLC raised its holdings in MDU Resources Group by 678.2% in the 4th quarter. Earnest Partners LLC now owns 9,946,196 shares of the utilities provider's stock valued at $194,150,000 after acquiring an additional 8,668,137 shares in the last quarter. Finally, State Street Corp lifted its position in shares of MDU Resources Group by 4.1% during the 4th quarter. State Street Corp now owns 7,121,385 shares of the utilities provider's stock valued at $139,991,000 after acquiring an additional 281,025 shares during the period. Institutional investors own 71.44% of the company's stock.

Analyst Upgrades and Downgrades

MDU has been the topic of several recent analyst reports. Wells Fargo & Company started coverage on shares of MDU Resources Group in a report on Monday, July 13th. They issued an "overweight" rating and a $25.00 target price on the stock. JPMorgan Chase & Co. raised shares of MDU Resources Group from a "neutral" rating to an "overweight" rating and set a $27.00 price target for the company in a report on Thursday, August 6th. TD Cowen increased their price target on shares of MDU Resources Group to $22.00 and gave the stock a "hold" rating in a research report on Friday, May 15th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of MDU Resources Group in a research note on Wednesday, July 8th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $23.40.

MDU Resources Group Stock Down 0.7%

MDU stock opened at $20.14 on Friday. The firm has a 50-day moving average price of $20.73 and a 200-day moving average price of $21.08. MDU Resources Group, Inc. has a 12 month low of $15.76 and a 12 month high of $22.98. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $4.12 billion, a P/E ratio of 21.20, a price-to-earnings-growth ratio of 3.75 and a beta of 0.67.

MDU Resources Group (NYSE:MDU - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.09 by $0.01. The business had revenue of $375.30 million during the quarter, compared to analysts' expectations of $396.56 million. MDU Resources Group had a net margin of 10.75% and a return on equity of 6.89%. The firm's quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.07 EPS. MDU Resources Group has set its FY 2026 guidance at 0.930-1.000 EPS. As a group, equities research analysts anticipate that MDU Resources Group, Inc. will post 0.98 EPS for the current fiscal year.

MDU Resources Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 10th will be issued a dividend of $0.145 per share. This is a positive change from MDU Resources Group's previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $0.58 annualized dividend and a dividend yield of 2.9%. MDU Resources Group's dividend payout ratio (DPR) is 58.95%.

MDU Resources Group Profile

MDU Resources Group, Inc is a diversified energy and services holding company headquartered in Bismarck, North Dakota. The company operates through two primary segments: Utilities and Construction Services and Pipelines & Midstream. Serving a broad geographic footprint across the upper Midwest and Pacific Northwest, MDU provides essential energy distribution and infrastructure services to residential, commercial and industrial customers.

The Utilities segment delivers electric and natural gas distribution services in Montana, North Dakota, South Dakota, Minnesota, Kansas, Wisconsin, Michigan and Washington.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source