Hennessy Advisors Inc. Has $4.69 Million Stock Holdings in MDU Resources Group, Inc. (NYSE:MDU)

Hennessy Advisors Inc. lifted its holdings in shares of MDU Resources Group, Inc. (NYSE:MDU) by 5.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 186,807 shares of the utilities provider’s stock after buying an additional 9,200 shares during the period. Hennessy Advisors Inc.’s holdings in MDU Resources Group were worth $4,689,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. State Board of Administration of Florida Retirement System lifted its position in shares of MDU Resources Group by 29.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 280,244 shares of the utilities provider’s stock worth $7,062,000 after buying an additional 63,403 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of MDU Resources Group by 17.0% in the first quarter. Russell Investments Group Ltd. now owns 401,619 shares of the utilities provider’s stock valued at $10,121,000 after purchasing an additional 58,220 shares during the period. Meeder Asset Management Inc. lifted its stake in shares of MDU Resources Group by 58.2% in the first quarter. Meeder Asset Management Inc. now owns 54,111 shares of the utilities provider’s stock worth $1,364,000 after buying an additional 19,916 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of MDU Resources Group during the 2nd quarter worth $2,198,000. Finally, Qsemble Capital Management LP acquired a new position in MDU Resources Group in the 4th quarter valued at $1,022,000. Institutional investors and hedge funds own 71.44% of the company’s stock.

Analysts Set New Price Targets

MDU has been the topic of several research analyst reports. StockNews.com downgraded MDU Resources Group from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Argus raised MDU Resources Group from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Monday, May 20th.

MDU Resources Group Stock Up 0.2 %

NYSE MDU opened at $24.66 on Friday. MDU Resources Group, Inc. has a twelve month low of $18.04 and a twelve month high of $27.30. The stock has a market cap of $5.03 billion, a PE ratio of 10.54, a PEG ratio of 2.86 and a beta of 0.77. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.37 and a current ratio of 1.43. The firm has a 50-day simple moving average of $25.36 and a 200 day simple moving average of $24.21.

MDU Resources Group (NYSE:MDU) last announced its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.11. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.06 billion. MDU Resources Group had a net margin of 10.74% and a return on equity of 11.42%. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.29 earnings per share. On average, research analysts forecast that MDU Resources Group, Inc. will post 1.55 EPS for the current year.

MDU Resources Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Thursday, September 12th will be paid a $0.13 dividend. This is a boost from MDU Resources Group’s previous quarterly dividend of $0.13. This represents a $0.52 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Thursday, September 12th. MDU Resources Group’s dividend payout ratio (DPR) is 22.22%.

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.