Bayforest Capital Ltd Has $781,000 Stake in MDU Resources Group, Inc. $MDU

Bayforest Capital Ltd raised its position in MDU Resources Group, Inc. (NYSE:MDU) by 942.9% during the second quarter, Holdings Channel reports. The firm owned 46,824 shares of the utilities provider’s stock after purchasing an additional 42,334 shares during the period. Bayforest Capital Ltd’s holdings in MDU Resources Group were worth $781,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MDU. Adage Capital Partners GP L.L.C. lifted its position in shares of MDU Resources Group by 195.0% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,548,864 shares of the utilities provider’s stock worth $26,191,000 after purchasing an additional 1,023,864 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in shares of MDU Resources Group in the 1st quarter worth approximately $14,636,000. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of MDU Resources Group in the 1st quarter worth approximately $12,361,000. Invesco Ltd. lifted its position in shares of MDU Resources Group by 30.1% during the 1st quarter. Invesco Ltd. now owns 3,124,863 shares of the utilities provider’s stock valued at $52,841,000 after acquiring an additional 723,560 shares during the period. Finally, Millennium Management LLC lifted its position in shares of MDU Resources Group by 103.1% during the 1st quarter. Millennium Management LLC now owns 1,343,979 shares of the utilities provider’s stock valued at $22,727,000 after acquiring an additional 682,098 shares during the period. Institutional investors and hedge funds own 71.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on MDU shares. Wall Street Zen lowered shares of MDU Resources Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Jefferies Financial Group upgraded shares of MDU Resources Group from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Friday, September 19th. Finally, Weiss Ratings upgraded shares of MDU Resources Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.67.

MDU Resources Group Stock Performance

NYSE MDU opened at $18.91 on Tuesday. MDU Resources Group, Inc. has a 1 year low of $14.91 and a 1 year high of $30.52. 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 firm has a market cap of $3.86 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 2.89 and a beta of 0.70. The company has a fifty day moving average price of $16.86 and a 200-day moving average price of $16.83.

MDU Resources Group (NYSE:MDU) last posted its earnings results on Thursday, August 7th. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.06). MDU Resources Group had a return on equity of 8.29% and a net margin of 8.25%.The firm had revenue of $351.20 million during the quarter, compared to the consensus estimate of $315.67 million. During the same quarter in the previous year, the company earned $0.32 EPS. The business’s revenue was up 1.9% compared to the same quarter last year. MDU Resources Group has set its FY 2025 guidance at 0.880-0.950 EPS. As a group, equities research analysts predict that MDU Resources Group, Inc. will post 0.94 EPS for the current fiscal year.

MDU Resources Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Thursday, September 11th were given a dividend of $0.14 per share. The ex-dividend date was Thursday, September 11th. This is an increase from MDU Resources Group’s previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a yield of 3.0%. MDU Resources Group’s dividend payout ratio (DPR) is currently 52.83%.

Insiders Place Their Bets

In related news, CFO Jason L. Vollmer purchased 5,000 shares of MDU Resources Group stock in a transaction that occurred on Monday, September 8th. The stock was bought at an average price of $16.07 per share, for a total transaction of $80,350.00. Following the completion of the transaction, the chief financial officer owned 344,548 shares in the company, valued at $5,536,886.36. This represents a 1.47% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.94% of the company’s stock.

About MDU Resources Group

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.