Ontario Teachers Pension Plan Board Lowers Position in MDU Resources Group, Inc. (NYSE:MDU)

Key Points

• Ontario Teachers Pension Plan Board reduced its stake in MDU Resources Group, Inc. by 57.1%, selling 84,384 shares during the first quarter, leaving them with 63,432 shares valued at $1,073,000.
• MDU Resources Group reported an earnings miss, with a EPS of $0.07 for the quarter, below the consensus estimate of $0.13, while revenue was $351.20 million, exceeding expectations.
• The firm declared a quarterly dividend of $0.13 per share, resulting in an annualized yield of 3.1% and a payout ratio of 40.31%.

Ontario Teachers Pension Plan Board trimmed its stake in MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 57.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,432 shares of the utilities provider's stock after selling 84,384 shares during the period. Ontario Teachers Pension Plan Board's holdings in MDU Resources Group were worth $1,073,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Bessemer Group Inc. lifted its position in MDU Resources Group by 179.0% in 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 during the last quarter. GAMMA Investing LLC lifted its holdings in shares of MDU Resources Group by 241.9% in the 1st quarter. GAMMA Investing LLC now owns 1,843 shares of the utilities provider's stock worth $31,000 after acquiring an additional 1,304 shares during the last quarter. Johnson Financial Group Inc. purchased a new position in shares of MDU Resources Group during the 4th quarter worth about $54,000. Wood Tarver Financial Group LLC bought a new position in MDU Resources Group during the 4th quarter valued at about $82,000. Finally, Garde Capital Inc. purchased a new stake in MDU Resources Group in the 1st quarter worth about $82,000. 71.44% of the stock is owned by institutional investors.

MDU Resources Group Trading Up 0.7%

MDU stock traded up $0.12 during trading on Tuesday, hitting $16.59. The company had a trading volume of 1,470,753 shares, compared to its average volume of 1,696,268. The firm has a market capitalization of $3.39 billion, a P/E ratio of 15.65, a PEG ratio of 2.52 and a beta of 0.73. MDU Resources Group, Inc. has a 52-week low of $14.91 and a 52-week high of $30.52. The company has a 50 day simple moving average of $16.75 and a 200-day simple moving average of $16.87. The company has a quick ratio of 0.71, a current ratio of 0.74 and a debt-to-equity ratio of 0.75.

MDU Resources Group (NYSE:MDU - Get Free Report) last issued its 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). The company had revenue of $351.20 million for the quarter, compared to analysts' expectations of $315.67 million. MDU Resources Group had a return on equity of 8.29% and a net margin of 8.25%. The business's revenue was up 1.9% compared to the same quarter last year. During the same period last year, the business posted $0.32 earnings per share. As a group, research analysts forecast 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 disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Thursday, June 12th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 3.1%. MDU Resources Group's payout ratio is currently 49.06%.

Analyst Ratings Changes

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