Bank of America Corp DE Buys 4,461 Shares of MDU Resources Group, Inc. (NYSE:MDU)

Bank of America Corp DE raised its stake in MDU Resources Group, Inc. (NYSE:MDU) by 0.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 535,928 shares of the utilities provider’s stock after buying an additional 4,461 shares during the period. Bank of America Corp DE owned about 0.26% of MDU Resources Group worth $9,657,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. BNP Paribas Financial Markets grew its position in shares of MDU Resources Group by 38.9% in the 4th quarter. BNP Paribas Financial Markets now owns 34,459 shares of the utilities provider’s stock valued at $621,000 after buying an additional 9,652 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of MDU Resources Group by 134.0% in the 4th quarter. Ameriprise Financial Inc. now owns 507,793 shares of the utilities provider’s stock valued at $9,152,000 after buying an additional 290,756 shares during the last quarter. Ardsley Advisory Partners LP grew its position in shares of MDU Resources Group by 100.0% in the 4th quarter. Ardsley Advisory Partners LP now owns 50,000 shares of the utilities provider’s stock valued at $901,000 after buying an additional 25,000 shares during the last quarter. Comerica Bank grew its position in shares of MDU Resources Group by 45.3% in the 4th quarter. Comerica Bank now owns 110,368 shares of the utilities provider’s stock valued at $1,989,000 after buying an additional 34,384 shares during the last quarter. Finally, AdvisorShares Investments LLC acquired a new position in shares of MDU Resources Group in the 4th quarter valued at about $454,000. Institutional investors own 71.44% of the company’s stock.

MDU Resources Group Stock Up 1.0%

Shares of NYSE:MDU opened at $17.06 on Friday. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 12.36, a P/E/G ratio of 2.76 and a beta of 0.72. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.15 and a quick ratio of 1.07. The business’s 50-day moving average is $16.87 and its 200-day moving average is $17.58. MDU Resources Group, Inc. has a 1 year low of $13.23 and a 1 year high of $20.39.

MDU Resources Group (NYSE:MDU) last announced its quarterly earnings data on Thursday, May 8th. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. MDU Resources Group had a return on equity of 10.20% and a net margin of 7.31%. The company had revenue of $674.80 million for the quarter, compared to the consensus estimate of $653.13 million. During the same period in the previous year, the business earned $0.52 EPS. The firm’s revenue was up 14.7% compared to the same quarter last year. Equities research analysts predict that MDU Resources Group, Inc. will post 0.94 earnings per share for the current year.

MDU Resources Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Thursday, June 12th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 3.05%. MDU Resources Group’s dividend payout ratio (DPR) is currently 40.31%.

Analysts Set New Price Targets

Separately, Wall Street Zen raised MDU Resources Group from a “sell” rating to a “hold” rating in a research note on Monday, May 12th.

MDU Resources Group Company 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.