BlackRock Inc. Purchases Shares of 27,351,603 MDU Resources Group, Inc. $MDU

Key Points

• BlackRock acquired 27.35 million shares of MDU Resources Group during the second quarter, worth approximately $580.1 million and representing a 13.36% stake. Institutional investors collectively own 71.44% of the company.
• MDU Resources reported quarterly EPS of $0.10, exceeding estimates by $0.01, while revenue rose 6.8% year over year to $375.3 million but fell short of expectations.
• The company raised its quarterly dividend to $0.145 per share, or $0.58 annually, yielding about 2.9%. Analysts maintain a consensus “Hold” rating with an average price target of $23.40.

BlackRock Inc. purchased a new position in shares of MDU Resources Group, Inc. (NYSE:MDU - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 27,351,603 shares of the utilities provider's stock, valued at approximately $580,127,000. BlackRock Inc. owned about 13.36% of MDU Resources Group as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Deutsche Bank AG bought a new stake in shares of MDU Resources Group during the 2nd quarter worth approximately $8,547,000. Trust Co. of Vermont bought a new position in shares of MDU Resources Group in the second quarter valued at $39,000. Global Retirement Partners LLC bought a new position in shares of MDU Resources Group in the second quarter valued at $55,000. Bank of New York Mellon Corp acquired a new position in MDU Resources Group during the second quarter worth $49,435,000. Finally, Focus Partners Advisor Solutions LLC acquired a new position in MDU Resources Group during the second quarter worth $615,000. Institutional investors own 71.44% of the company's stock.

MDU Resources Group Trading Up 0.1%

Shares of MDU Resources Group stock opened at $19.97 on Monday. The firm has a 50-day moving average of $20.80 and a 200-day moving average of $21.10. The stock has a market cap of $4.09 billion, a PE ratio of 21.02, a PEG ratio of 3.68 and a beta of 0.67. MDU Resources Group, Inc. has a 52-week low of $15.76 and a 52-week high of $22.98. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.95 and a current ratio of 0.99.

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

MDU Resources Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th will be given a dividend of $0.145 per share. This represents a $0.58 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Thursday, September 10th. This is a boost from MDU Resources Group's previous quarterly dividend of $0.14. MDU Resources Group's dividend payout ratio (DPR) is currently 61.05%.

Analysts Set New Price Targets

MDU has been the topic of several analyst reports. JPMorgan Chase & Co. raised shares of MDU Resources Group from a "neutral" rating to an "overweight" rating and set a $27.00 price target on the stock in a research report on Thursday, August 6th. TD Cowen boosted their price objective on shares of MDU Resources Group to $22.00 and gave the stock a "hold" rating in a research note on Friday, May 15th. Wells Fargo & Company began 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. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of MDU Resources Group in a research note on Wednesday, July 8th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $23.40.

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.

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