Mackenzie Financial Corp Has $574,000 Stake in MDU Resources Group, Inc. (NYSE:MDU)

Mackenzie Financial Corp boosted its holdings in MDU Resources Group, Inc. (NYSE:MDU) by 79.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,960 shares of the utilities provider’s stock after purchasing an additional 14,986 shares during the quarter. Mackenzie Financial Corp’s holdings in MDU Resources Group were worth $574,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of MDU. Bessemer Group Inc. lifted its stake in shares of MDU Resources Group by 179.0% in 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 in the last quarter. GAMMA Investing LLC lifted 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 in the last quarter. Johnson Financial Group Inc. acquired a new position in MDU Resources Group during the 4th quarter valued at about $54,000. Wood Tarver Financial Group LLC acquired a new position in MDU Resources Group during the 4th quarter valued at about $82,000. Finally, Garde Capital Inc. bought a new stake in MDU Resources Group during the 1st quarter worth approximately $82,000. Institutional investors and hedge funds own 71.44% of the company’s stock.

Wall Street Analyst Weigh In

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 Price Performance

MDU opened at $17.49 on Thursday. MDU Resources Group, Inc. has a 1 year low of $14.91 and a 1 year high of $30.52. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.85 and a quick ratio of 0.82. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of 13.56, a P/E/G ratio of 2.68 and a beta of 0.73. The firm’s fifty day moving average price is $16.77 and its two-hundred day moving average price is $16.92.

MDU Resources Group (NYSE:MDU) last released its quarterly earnings results on Thursday, May 8th. The utilities provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.04. MDU Resources Group had a net margin of 7.93% and a return on equity of 9.86%. The business had revenue of $674.80 million for the quarter, compared to analysts’ expectations of $653.13 million. During the same period in the previous year, the company earned $0.52 earnings per share. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, analysts anticipate that MDU Resources Group, Inc. will post 0.94 earnings per share for the current fiscal year.

MDU Resources Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Thursday, June 12th were issued 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 currently 40.31%.

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.