Zimmer Partners LP Buys New Holdings in MDU Resources Group, Inc. $MDU

Key Points

• Zimmer Partners LP acquired 65,096 shares of MDU Resources Group, valued at approximately $1,101,000, indicating increased institutional interest in the company.
• MDU Resources Group recently increased its quarterly dividend from $0.13 to $0.14 per share, highlighting a positive change with an annualized yield of 3.5%.
• Despite a recent earnings miss with a reported EPS of $0.07 against expectations of $0.13, MDU's quarterly revenue of $351.2 million exceeded analyst forecasts, suggesting resilience amidst challenges.

Zimmer Partners LP bought a new position in shares of MDU Resources Group, Inc. (NYSE:MDU - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 65,096 shares of the utilities provider's stock, valued at approximately $1,101,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Mackenzie Financial Corp lifted its position in shares of 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 purchasing an additional 650 shares during the last quarter. Independent Advisor Alliance increased its stake in shares of MDU Resources Group by 7.1% during the first quarter. Independent Advisor Alliance now owns 11,329 shares of the utilities provider's stock valued at $192,000 after buying an additional 753 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of 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 valued at $506,000 after buying an additional 789 shares during the period. Dakota Wealth Management increased its stake in shares of MDU Resources Group by 1.3% during the first quarter. Dakota Wealth Management now owns 75,678 shares of the utilities provider's stock valued at $1,289,000 after buying an additional 965 shares during the period. Finally, Bessemer Group Inc. increased its stake in shares of MDU Resources Group by 179.0% during the first quarter. Bessemer Group Inc. now owns 1,518 shares of the utilities provider's stock valued at $25,000 after buying an additional 974 shares during the period. 71.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered 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 given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $18.00.

Insider Buying and Selling at MDU Resources Group

In other MDU Resources Group news, CFO Jason L. Vollmer purchased 5,000 shares of the company's stock in a transaction dated Monday, September 8th. The shares were acquired at an average price of $16.07 per share, for a total transaction of $80,350.00. Following the completion of the purchase, the chief financial officer owned 344,548 shares of the company's stock, valued at approximately $5,536,886.36. The trade was a 1.47% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.94% of the company's stock.

MDU Resources Group Stock Up 0.0%

Shares of MDU stock traded up $0.01 during trading hours on Monday, reaching $16.25. 309,257 shares of the company's stock were exchanged, compared to its average volume of 1,668,348. MDU Resources Group, Inc. has a 1 year low of $14.91 and a 1 year high of $30.52. The stock has a market cap of $3.32 billion, a PE ratio of 15.33, a PEG ratio of 2.57 and a beta of 0.70. The company has a current ratio of 0.74, a quick ratio of 0.71 and a debt-to-equity ratio of 0.75. The stock's fifty day moving average price is $16.65 and its two-hundred day moving average price is $16.75.

MDU Resources Group (NYSE:MDU - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.07 earnings per share 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 business 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. MDU Resources Group's revenue was up 1.9% on a year-over-year basis. MDU Resources Group has set its FY 2025 guidance at 0.880-0.950 EPS. Research analysts predict that MDU Resources Group, Inc. will post 0.94 EPS for the current year.

MDU Resources Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Thursday, September 11th will be paid a dividend of $0.14 per share. The ex-dividend date is Thursday, September 11th. 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 presently 52.83%.

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.