Envestnet Asset Management Inc. Grows Position in MDU Resources Group, Inc. (NYSE:MDU)

Envestnet Asset Management Inc. boosted its position in shares of MDU Resources Group, Inc. (NYSE:MDUFree Report) by 25.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 82,860 shares of the utilities provider’s stock after purchasing an additional 16,913 shares during the period. Envestnet Asset Management Inc.’s holdings in MDU Resources Group were worth $1,401,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MDU. Cambridge Investment Research Advisors Inc. raised its holdings in shares of MDU Resources Group by 28.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 66,160 shares of the utilities provider’s stock worth $1,119,000 after buying an additional 14,701 shares during the period. GAMMA Investing LLC grew its position in MDU Resources Group by 241.9% in the 1st quarter. GAMMA Investing LLC now owns 1,843 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 1,304 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in MDU Resources Group by 8.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 21,663 shares of the utilities provider’s stock worth $366,000 after purchasing an additional 1,742 shares during the period. Tidal Investments LLC bought a new stake in shares of MDU Resources Group during the fourth quarter worth $185,000. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of MDU Resources Group by 16.5% during the first quarter. Robeco Institutional Asset Management B.V. now owns 69,446 shares of the utilities provider’s stock worth $1,174,000 after purchasing an additional 9,846 shares during the last quarter. 71.44% of the stock is owned by hedge funds and other institutional investors.

MDU Resources Group Stock Up 1.3%

Shares of NYSE MDU opened at $17.26 on Friday. MDU Resources Group, Inc. has a 52-week low of $14.91 and a 52-week high of $30.52. The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 2.58 and a beta of 0.70. The stock has a 50 day moving average price of $16.75 and a 200 day moving average price of $16.95. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.82 and a current ratio of 0.85.

MDU Resources Group (NYSE:MDUGet Free Report) last issued its earnings results on Thursday, May 8th. The utilities provider reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. MDU Resources Group had a return on equity of 9.86% and a net margin of 7.93%. The business had revenue of $674.80 million during the quarter, compared to analyst estimates of $653.13 million. During the same period in the previous year, the company posted $0.52 EPS. MDU Resources Group’s revenue was up 14.7% on a year-over-year basis. Sell-side analysts expect that MDU Resources Group, Inc. will post 0.94 earnings per share for the current year.

MDU Resources Group Dividend Announcement

The firm also recently announced 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 3.0%. MDU Resources Group’s dividend payout ratio (DPR) is 40.31%.

Analysts Set New Price Targets

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.

Read Our Latest Analysis on MDU

MDU Resources Group Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for MDU Resources Group (NYSE:MDU)

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