Hennessy Advisors Inc. Has $3.29 Million Stake in MDU Resources Group, Inc. $MDU

Hennessy Advisors Inc. reduced its stake in shares of MDU Resources Group, Inc. (NYSE:MDU) by 89.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,907 shares of the utilities provider’s stock after selling 1,621,300 shares during the quarter. Hennessy Advisors Inc. owned 0.09% of MDU Resources Group worth $3,293,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in shares of MDU Resources Group by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 3,427,029 shares of the utilities provider’s stock worth $57,144,000 after purchasing an additional 8,754 shares during the last quarter. Frontier Capital Management Co. LLC boosted its position in MDU Resources Group by 19.7% in the second quarter. Frontier Capital Management Co. LLC now owns 2,790,814 shares of the utilities provider’s stock valued at $46,523,000 after buying an additional 460,180 shares in the last quarter. Norges Bank bought a new stake in MDU Resources Group during the second quarter worth about $40,087,000. Adage Capital Partners GP L.L.C. increased its holdings in shares of MDU Resources Group by 42.0% during the second quarter. Adage Capital Partners GP L.L.C. now owns 2,200,000 shares of the utilities provider’s stock worth $36,674,000 after buying an additional 651,136 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of MDU Resources Group by 11.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,566,781 shares of the utilities provider’s stock worth $26,494,000 after buying an additional 166,206 shares in the last quarter. 71.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MDU. TD Cowen started coverage on MDU Resources Group in a report on Thursday, October 16th. They issued a “hold” rating and a $20.00 target price on the stock. Zacks Research raised MDU Resources Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, December 4th. Jefferies Financial Group increased their target price on MDU Resources Group to $22.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Cowen began coverage on MDU Resources Group in a research note on Wednesday, October 15th. They issued a “hold” rating for the company. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of MDU Resources Group in a research report on Monday. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $21.00.

MDU Resources Group Trading Down 1.1%

MDU stock opened at $19.53 on Friday. The company has a quick ratio of 0.69, a current ratio of 0.75 and a debt-to-equity ratio of 0.80. MDU Resources Group, Inc. has a twelve month low of $15.04 and a twelve month high of $21.49. The company has a market cap of $3.99 billion, a P/E ratio of 23.53, a PEG ratio of 2.79 and a beta of 0.75. The business has a fifty day moving average of $20.04 and a 200-day moving average of $18.06.

MDU Resources Group (NYSE:MDU) last announced its quarterly earnings data on Thursday, November 6th. The utilities provider reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. MDU Resources Group had a return on equity of 6.81% and a net margin of 9.02%.The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period last year, the business earned $0.32 earnings per share. MDU Resources Group has set its FY 2025 guidance at 0.900-0.950 EPS. As a group, equities research analysts expect that MDU Resources Group, Inc. will post 0.94 EPS for the current year.

MDU Resources Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 1st. Investors of record on Thursday, December 11th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.9%. The ex-dividend date was Thursday, December 11th. MDU Resources Group’s dividend payout ratio is currently 67.47%.

MDU Resources Group Company 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.