Bank of New York Mellon Corp Reduces Stake in MDU Resources Group, Inc. $MDU

Bank of New York Mellon Corp lessened its holdings in shares of MDU Resources Group, Inc. (NYSE:MDU) by 3.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,363,835 shares of the utilities provider’s stock after selling 78,106 shares during the period. Bank of New York Mellon Corp owned 1.15% of MDU Resources Group worth $48,979,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of MDU Resources Group by 8.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 499,908 shares of the utilities provider’s stock valued at $8,453,000 after buying an additional 39,978 shares during the last quarter. Quantbot Technologies LP acquired a new stake in MDU Resources Group during the 2nd quarter worth $370,000. EverSource Wealth Advisors LLC increased its stake in MDU Resources Group by 56.4% in the second quarter. EverSource Wealth Advisors LLC now owns 2,508 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 904 shares during the period. Amundi acquired a new stake in shares of MDU Resources Group during the second quarter worth about $564,000. Finally, Jump Financial LLC grew its holdings in shares of MDU Resources Group by 355.9% during the second quarter. Jump Financial LLC now owns 178,703 shares of the utilities provider’s stock worth $2,979,000 after buying an additional 139,503 shares during the last quarter. Hedge funds and other institutional investors own 71.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wells Fargo & Company started coverage on MDU Resources Group in a research report on Monday, July 13th. They issued an “overweight” rating and a $25.00 price target on the stock. TD Cowen lifted their target price on MDU Resources Group to $22.00 and gave the company a “hold” rating in a research note on Friday, May 15th. Weiss Ratings reissued a “hold (c)” rating on shares of MDU Resources Group in a report on Wednesday, July 8th. Finally, JPMorgan Chase & Co. began coverage on MDU Resources Group in a report on Thursday, April 16th. They issued a “neutral” rating and a $22.00 target price on the stock. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $22.40.

MDU Resources Group Price Performance

Shares of NYSE MDU opened at $21.26 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.75 and a current ratio of 0.78. MDU Resources Group, Inc. has a one year low of $15.76 and a one year high of $22.98. The firm has a market capitalization of $4.35 billion, a P/E ratio of 23.10, a PEG ratio of 3.92 and a beta of 0.67. The company’s fifty day moving average is $21.26 and its two-hundred day moving average is $21.09.

MDU Resources Group (NYSE:MDU) last announced its quarterly earnings results on Thursday, May 7th. The utilities provider reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). MDU Resources Group had a net margin of 10.47% and a return on equity of 6.82%. The company had revenue of $605.98 million during the quarter, compared to analysts’ expectations of $688.34 million. During the same quarter in the prior year, the business earned $0.40 EPS. The business’s revenue for the quarter was down 10.2% compared to the same quarter last year. MDU Resources Group has set its FY 2026 guidance at 0.930-1.000 EPS. Analysts forecast that MDU Resources Group, Inc. will post 0.98 EPS for the current fiscal year.

MDU Resources Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Thursday, June 11th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Thursday, June 11th. MDU Resources Group’s dividend payout ratio (DPR) is presently 60.87%.

MDU Resources Group Profile

MDU Resources Group, Inc is a diversified energy and services holding company headquartered in Bismarck, North Dakota. The company operates through two primary segments: Utilities and Construction Services and Pipelines & Midstream. Serving a broad geographic footprint across the upper Midwest and Pacific Northwest, MDU provides essential energy distribution and infrastructure services to residential, commercial and industrial customers.

The Utilities segment delivers electric and natural gas distribution services in Montana, North Dakota, South Dakota, Minnesota, Kansas, Wisconsin, Michigan and Washington.