Nuveen LLC Purchases New Position in MDU Resources Group, Inc. $MDU

Key Points

• Nuveen LLC has acquired 640,211 shares of MDU Resources Group, Inc., valued at approximately $10.8 million, representing a 0.31% ownership stake in the company.
• MDU Resources Group recently announced an increase in its quarterly dividend to $0.14 per share, reflecting a 3.4% yield and a payout ratio of 49.06%.
• MDU Resources Group reported quarterly earnings with an EPS of $0.07, missing expectations, despite revenue exceeding forecasts with $351.2 million reported.

Nuveen LLC bought a new stake in MDU Resources Group, Inc. (NYSE:MDU - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 640,211 shares of the utilities provider's stock, valued at approximately $10,826,000. Nuveen LLC owned about 0.31% of MDU Resources Group at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mackenzie Financial Corp grew its position in MDU Resources Group by 3.5% during the fourth quarter. Mackenzie Financial Corp now owns 18,974 shares of the utilities provider's stock worth $342,000 after buying an additional 650 shares in the last quarter. PNC Financial Services Group Inc. grew its position in MDU Resources Group by 2.7% during the first quarter. PNC Financial Services Group Inc. now owns 29,903 shares of the utilities provider's stock worth $506,000 after buying an additional 789 shares in the last quarter. Dakota Wealth Management grew its position in MDU Resources Group by 1.3% during the first quarter. Dakota Wealth Management now owns 75,678 shares of the utilities provider's stock worth $1,289,000 after buying an additional 965 shares in the last quarter. Bessemer Group Inc. grew its position in MDU Resources Group by 179.0% during the first quarter. Bessemer Group Inc. now owns 1,518 shares of the utilities provider's stock worth $25,000 after buying an additional 974 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in 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 buying an additional 1,304 shares in the last quarter. Institutional investors and hedge funds own 71.44% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut MDU Resources Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $18.00.

MDU Resources Group Stock Performance

Shares of MDU Resources Group stock traded down $0.12 during mid-day trading on Thursday, hitting $16.34. 364,712 shares of the stock were exchanged, compared to its average volume of 1,688,327. MDU Resources Group, Inc. has a 12 month low of $14.91 and a 12 month high of $30.52. The company has a 50-day simple moving average of $16.71 and a 200 day simple moving average of $16.79. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.71 and a current ratio of 0.74. The company has a market capitalization of $3.34 billion, a P/E ratio of 15.42, a P/E/G ratio of 2.59 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 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.06). MDU Resources Group had a return on equity of 8.29% and a net margin of 8.25%.The company had revenue of $351.20 million during the quarter, compared to the consensus estimate of $315.67 million. During the same period last year, the firm posted $0.32 EPS. The company's revenue for the quarter was up 1.9% compared to the same quarter last year. MDU Resources Group has set its FY 2025 guidance at 0.880-0.950 EPS. Sell-side analysts anticipate that MDU Resources Group, Inc. will post 0.94 earnings per share for the current fiscal year.

MDU Resources Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Thursday, September 11th will be given a dividend of $0.14 per share. This is a positive change from MDU Resources Group's previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.4%. MDU Resources Group's payout ratio is 49.06%.

Insider Activity

In related news, CFO Jason L. Vollmer acquired 5,000 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was bought at an average cost of $16.27 per share, with a total value of $81,350.00. Following the acquisition, the chief financial officer owned 339,548 shares of the company's stock, valued at approximately $5,524,445.96. The trade was a 1.49% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.94% of the company's stock.

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.