Bank of Nova Scotia Has $1.94 Million Stock Holdings in MDU Resources Group, Inc. (NYSE:MDU)

Bank of Nova Scotia lessened its holdings in MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 31.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 114,814 shares of the utilities provider's stock after selling 51,876 shares during the quarter. Bank of Nova Scotia owned 0.06% of MDU Resources Group worth $1,942,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. First Trust Advisors LP boosted its position in MDU Resources Group by 132.0% during the fourth quarter. First Trust Advisors LP now owns 6,999,856 shares of the utilities provider's stock valued at $126,137,000 after purchasing an additional 3,982,783 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of MDU Resources Group by 6.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,186,994 shares of the utilities provider's stock valued at $147,530,000 after buying an additional 467,355 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of MDU Resources Group by 102.3% in the 4th quarter. Millennium Management LLC now owns 661,881 shares of the utilities provider's stock valued at $11,927,000 after buying an additional 334,713 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of MDU Resources Group by 217.5% in the first quarter. Victory Capital Management Inc. now owns 480,353 shares of the utilities provider's stock valued at $8,123,000 after buying an additional 329,064 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its holdings in MDU Resources Group by 162.5% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 525,000 shares of the utilities provider's stock worth $9,460,000 after buying an additional 325,000 shares during the last quarter. Institutional investors own 71.44% of the company's stock.

MDU Resources Group Stock Performance

NYSE:MDU traded up $0.22 on Friday, hitting $16.54. The company's stock had a trading volume of 3,044,571 shares, compared to its average volume of 1,318,032. MDU Resources Group, Inc. has a one year low of $14.91 and a one year high of $30.52. The firm has a market capitalization of $3.38 billion, a P/E ratio of 15.60, a price-to-earnings-growth ratio of 2.50 and a beta of 0.73. The stock has a fifty day moving average of $16.76 and a two-hundred day moving average of $16.89. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.74.

MDU Resources Group (NYSE:MDU - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.06). MDU Resources Group had a net margin of 8.25% and a return on equity of 8.22%. The business had revenue of $351.20 million during the quarter, compared to the consensus estimate of $315.67 million. During the same quarter last year, the company posted $0.32 EPS. The firm's revenue was up 1.9% on a year-over-year basis. Research analysts predict that MDU Resources Group, Inc. will post 0.94 earnings per share for the current year.

MDU Resources Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Thursday, June 12th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 3.1%. MDU Resources Group's dividend payout ratio is currently 49.06%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of MDU Resources Group from a "hold" rating to a "sell" rating in a research note on Saturday.

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.