Mackenzie Financial Corp Boosts 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 boosted its position in shares of MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 79.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,960 shares of the utilities provider's stock after acquiring 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 filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Bessemer Group Inc. lifted its holdings in shares of MDU Resources Group by 179.0% during the 1st quarter. Bessemer Group Inc. now owns 1,518 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 974 shares during the last quarter. GAMMA Investing LLC increased its position in MDU Resources Group by 241.9% during the 1st quarter. GAMMA Investing LLC now owns 1,843 shares of the utilities provider's stock valued at $31,000 after buying an additional 1,304 shares in the last quarter. Johnson Financial Group Inc. purchased a new stake in MDU Resources Group in the fourth quarter valued at about $54,000. Wood Tarver Financial Group LLC purchased a new stake in MDU Resources Group in the fourth quarter valued at about $82,000. Finally, Garde Capital Inc. acquired a new stake in MDU Resources Group in the first quarter worth about $82,000. 71.44% of the stock is currently owned by institutional investors and hedge funds.

MDU Resources Group Stock Performance

Shares of MDU traded down $1.17 during trading hours on Thursday, reaching $16.33. 3,106,664 shares of the company traded hands, compared to its average volume of 1,220,412. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.74. The business has a fifty day moving average price of $16.77 and a 200-day moving average price of $16.91. 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 $3.34 billion, a P/E ratio of 12.66, a P/E/G ratio of 2.65 and a beta of 0.73.

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 the consensus estimate of $0.13 by ($0.06). MDU Resources Group had a net margin of 7.93% and a return on equity of 9.86%. The firm had revenue of $351.20 million for the quarter, compared to analysts' expectations of $315.67 million. During the same quarter in the previous year, the firm posted $0.32 EPS. The firm's revenue for the quarter was up 1.9% compared to the same quarter last year. Equities analysts anticipate that MDU Resources Group, Inc. will post 0.94 EPS for the current fiscal year.

MDU Resources Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Thursday, June 12th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 3.2%. MDU Resources Group's dividend payout ratio is presently 40.31%.

Analyst Upgrades and Downgrades

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

MDU Resources Group Profile

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.