Millennium Management LLC Buys 682,098 Shares of MDU Resources Group, Inc. $MDU

Millennium Management LLC lifted its holdings in shares of MDU Resources Group, Inc. (NYSE:MDU) by 103.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,343,979 shares of the utilities provider’s stock after acquiring an additional 682,098 shares during the period. Millennium Management LLC owned approximately 0.66% of MDU Resources Group worth $22,727,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of MDU Resources Group by 28.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 66,160 shares of the utilities provider’s stock worth $1,119,000 after acquiring an additional 14,701 shares during the period. GAMMA Investing LLC lifted its holdings in shares of MDU Resources Group by 241.9% during 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 period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of MDU Resources Group by 8.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 21,663 shares of the utilities provider’s stock worth $366,000 after acquiring an additional 1,742 shares during the period. Tidal Investments LLC bought a new position in shares of MDU Resources Group during the 4th quarter worth about $185,000. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of MDU Resources Group by 16.5% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 69,446 shares of the utilities provider’s stock worth $1,174,000 after acquiring an additional 9,846 shares during the period. 71.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of MDU Resources Group from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, MDU Resources Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Insider Activity at MDU Resources Group

In other MDU Resources Group news, CFO Jason L. Vollmer acquired 5,000 shares of the business’s stock in a transaction dated Monday, September 8th. The shares were acquired at an average price of $16.07 per share, with a total value of $80,350.00. Following the completion of the transaction, the chief financial officer directly owned 344,548 shares in the company, valued at $5,536,886.36. This trade represents a 1.47% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.94% of the stock is currently owned by corporate insiders.

MDU Resources Group Stock Down 0.8%

Shares of NYSE:MDU opened at $16.27 on Friday. MDU Resources Group, Inc. has a one year low of $14.91 and a one year high of $30.52. The company has a 50 day moving average of $16.65 and a 200-day moving average of $16.75. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.74 and a quick ratio of 0.71. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of 15.34, a P/E/G ratio of 2.60 and a beta of 0.70.

MDU Resources Group (NYSE:MDU) last issued its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.06). The firm had revenue of $351.20 million for the quarter, compared to analyst estimates of $315.67 million. MDU Resources Group had a net margin of 8.25% and a return on equity of 8.29%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.32 EPS. MDU Resources Group has set its FY 2025 guidance at 0.880-0.950 EPS. On average, sell-side analysts forecast that MDU Resources Group, Inc. will post 0.94 earnings per share for the current year.

MDU Resources Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Thursday, September 11th will be given a $0.14 dividend. This is a boost 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%. The ex-dividend date of this dividend is Thursday, September 11th. MDU Resources Group’s payout ratio is presently 52.83%.

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.