Envestnet Asset Management Inc. Grows Position in MDU Resources Group, Inc. (NYSE:MDU)

Key Points

• Envestnet Asset Management Inc. increased its stake in MDU Resources Group by 25.6%, owning 82,860 shares valued at approximately $1.4 million following additional purchases.
• MDU Resources Group reported a quarterly earnings per share (EPS) of $0.40, surpassing estimates and achieving a 14.7% year-over-year increase in revenue.
• The company declared a quarterly dividend of $0.13 per share, resulting in an annualized yield of 3.0%, with a current dividend payout ratio of 40.31%.

Envestnet Asset Management Inc. increased its stake in shares of MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 25.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 82,860 shares of the utilities provider's stock after purchasing an additional 16,913 shares during the period. Envestnet Asset Management Inc.'s holdings in MDU Resources Group were worth $1,401,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. D.A. Davidson & CO. increased its position in shares of MDU Resources Group by 10.1% during the 1st quarter. D.A. Davidson & CO. now owns 89,040 shares of the utilities provider's stock valued at $1,506,000 after purchasing an additional 8,188 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of MDU Resources Group by 2.4% during the 1st quarter. Principal Financial Group Inc. now owns 1,011,987 shares of the utilities provider's stock valued at $17,113,000 after purchasing an additional 23,979 shares during the last quarter. Miller Howard Investments Inc. NY increased its position in shares of MDU Resources Group by 9.0% during the 1st quarter. Miller Howard Investments Inc. NY now owns 56,239 shares of the utilities provider's stock valued at $951,000 after purchasing an additional 4,638 shares during the last quarter. Koshinski Asset Management Inc. bought a new position in shares of MDU Resources Group during the 1st quarter valued at about $173,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of MDU Resources Group by 7.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,276,045 shares of the utilities provider's stock valued at $38,533,000 after purchasing an additional 162,026 shares during the last quarter. Hedge funds and other institutional investors own 71.44% of the company's stock.

Analyst Upgrades and Downgrades

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

MDU Resources Group Trading Up 1.6%

MDU traded up $0.28 on Monday, hitting $17.38. 216,245 shares of the company were exchanged, compared to its average volume of 1,668,083. The firm has a fifty day simple moving average of $16.75 and a two-hundred day simple moving average of $16.92. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.82 and a current ratio of 0.85. MDU Resources Group, Inc. has a 12 month low of $14.91 and a 12 month high of $30.52. The stock has a market capitalization of $3.55 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 2.59 and a beta of 0.73.

MDU Resources Group (NYSE:MDU - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The utilities provider reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.04. The firm had revenue of $674.80 million for the quarter, compared to analyst estimates of $653.13 million. MDU Resources Group had a return on equity of 9.86% and a net margin of 7.93%. The business's quarterly revenue was up 14.7% compared to the same quarter last year. During the same period last year, the company earned $0.52 EPS. Sell-side analysts expect that MDU Resources Group, Inc. will post 0.94 earnings per share for the current year.

MDU Resources Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Thursday, June 12th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.0%. MDU Resources Group's dividend payout ratio is currently 40.31%.

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.