Mackenzie Financial Corp Has $574,000 Stock Holdings in MDU Resources Group, Inc. (NYSE:MDU)

Key Points

• Mackenzie Financial Corp increased its stake in MDU Resources Group by 79.0%, holding 33,960 shares valued at $574,000 at the end of the first quarter.
• MDU Resources Group reported $0.40 earnings per share for the most recent quarter, surpassing the consensus estimate of $0.36.
• The company declared a quarterly dividend of $0.13 per share, representing an annualized yield of 3.0% with a payout ratio of 40.31%.

Mackenzie Financial Corp raised its position in MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 79.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,960 shares of the utilities provider's stock after buying an additional 14,986 shares during the period. Mackenzie Financial Corp's holdings in MDU Resources Group were worth $574,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. lifted its position in shares of MDU Resources Group by 28.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 66,160 shares of the utilities provider's stock worth $1,119,000 after purchasing an additional 14,701 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of MDU Resources Group by 241.9% during the first quarter. GAMMA Investing LLC now owns 1,843 shares of the utilities provider's stock worth $31,000 after purchasing an additional 1,304 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of MDU Resources Group by 8.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 21,663 shares of the utilities provider's stock worth $366,000 after purchasing an additional 1,742 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of MDU Resources Group during the fourth quarter worth approximately $185,000. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of MDU Resources Group by 16.5% during the first quarter. Robeco Institutional Asset Management B.V. now owns 69,446 shares of the utilities provider's stock worth $1,174,000 after purchasing an additional 9,846 shares in the last quarter. 71.44% of the stock is currently owned by institutional investors and hedge funds.

MDU Resources Group Stock Up 1.3%

MDU traded up $0.22 during trading hours on Friday, hitting $16.54. 3,044,571 shares of the company's stock were exchanged, compared to its average volume of 1,318,032. MDU Resources Group, Inc. has a 1-year low of $14.91 and a 1-year high of $30.52. The stock's 50-day moving average is $16.76 and its two-hundred day moving average is $16.89. The stock has a market cap of $3.38 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 2.50 and a beta of 0.73. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.74.

MDU Resources Group (NYSE:MDU - Get Free Report) last announced 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 business had revenue of $351.20 million for the quarter, compared to analyst estimates of $315.67 million. MDU Resources Group had a return on equity of 8.22% and a net margin of 8.25%. The business's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS. Sell-side analysts predict that MDU Resources Group, Inc. will post 0.94 earnings per share for the current fiscal year.

MDU Resources Group Announces Dividend

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

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of MDU Resources Group from a "hold" rating to a "sell" rating in a report 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.