Invesco Ltd. Buys 723,560 Shares of MDU Resources Group, Inc. $MDU

Invesco Ltd. increased its stake in MDU Resources Group, Inc. (NYSE:MDU) by 30.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,124,863 shares of the utilities provider’s stock after purchasing an additional 723,560 shares during the period. Invesco Ltd. owned approximately 1.53% of MDU Resources Group worth $52,841,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Bessemer Group Inc. increased its position 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 worth $25,000 after purchasing an additional 974 shares during the period. GAMMA Investing LLC increased its position in shares of MDU Resources Group by 241.9% in the first quarter. GAMMA Investing LLC now owns 1,843 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 1,304 shares during the period. Headlands Technologies LLC acquired a new stake in MDU Resources Group in the first quarter valued at about $48,000. Johnson Financial Group Inc. acquired a new stake in MDU Resources Group in the fourth quarter valued at about $54,000. Finally, Wood Tarver Financial Group LLC acquired a new stake in MDU Resources Group in the fourth quarter valued at about $82,000. Institutional investors own 71.44% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered MDU Resources Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th.

MDU Resources Group Stock Performance

NYSE:MDU opened at $16.45 on Monday. The stock’s 50-day simple moving average is $16.72 and its 200 day simple moving average is $16.84. The firm has a market capitalization of $3.36 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 2.61 and a beta of 0.73. The company has a quick ratio of 0.71, a current ratio of 0.74 and a debt-to-equity ratio of 0.75. MDU Resources Group, Inc. has a twelve month low of $14.91 and a twelve month high of $30.52.

MDU Resources Group (NYSE:MDU) last announced its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.07 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 business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.32 earnings per share. On average, analysts anticipate that MDU Resources Group, Inc. will post 0.94 EPS for the current fiscal year.

MDU Resources Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Thursday, September 11th will be issued a dividend of $0.14 per share. This is a boost from MDU Resources Group’s previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a dividend yield of 3.4%. MDU Resources Group’s payout ratio is 49.06%.

MDU Resources Group 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.