Inceptionr LLC Makes New Investment in MDU Resources Group, Inc. (NYSE:MDU)

Inceptionr LLC purchased a new stake in shares of MDU Resources Group, Inc. (NYSE:MDU) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 14,126 shares of the utilities provider’s stock, valued at approximately $255,000.

A number of other hedge funds also recently made changes to their positions in MDU. Hennessy Advisors Inc. raised its holdings in shares of MDU Resources Group by 1,098.5% during the fourth quarter. Hennessy Advisors Inc. now owns 2,155,007 shares of the utilities provider’s stock valued at $38,833,000 after buying an additional 1,975,200 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of MDU Resources Group by 109.3% during the fourth quarter. Principal Financial Group Inc. now owns 988,008 shares of the utilities provider’s stock valued at $17,804,000 after buying an additional 515,878 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of MDU Resources Group by 18.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,114,019 shares of the utilities provider’s stock valued at $37,926,000 after buying an additional 331,481 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of MDU Resources Group by 18.2% during the fourth quarter. Bank of New York Mellon Corp now owns 2,110,595 shares of the utilities provider’s stock valued at $38,033,000 after buying an additional 324,757 shares during the last quarter. Finally, Advisors Preferred LLC bought a new stake in shares of MDU Resources Group during the fourth quarter valued at approximately $5,691,000. Institutional investors own 71.44% of the company’s stock.

MDU Resources Group Price Performance

Shares of NYSE:MDU opened at $16.63 on Monday. MDU Resources Group, Inc. has a 12 month low of $14.91 and a 12 month high of $30.52. The stock has a market cap of $3.40 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 2.76 and a beta of 0.81. The stock’s 50 day moving average price is $17.47 and its 200 day moving average price is $21.27. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.15 and a quick ratio of 1.07.

MDU Resources Group (NYSE:MDU) last announced its earnings results on Thursday, February 6th. The utilities provider reported $0.34 EPS for the quarter, topping the consensus estimate of $0.31 by $0.03. MDU Resources Group had a return on equity of 10.20% and a net margin of 7.31%. Equities research analysts anticipate that MDU Resources Group, Inc. will post 0.94 earnings per share for the current fiscal year.

MDU Resources Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Thursday, March 13th will be given a $0.13 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.52 annualized dividend and a yield of 3.13%. MDU Resources Group’s dividend payout ratio (DPR) is 37.68%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MDU. StockNews.com cut MDU Resources Group from a “hold” rating to a “sell” rating in a report on Thursday, February 20th. Jefferies Financial Group initiated coverage on MDU Resources Group in a report on Wednesday, January 8th. They set a “hold” rating and a $18.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $21.00.

Insiders Place Their Bets

In other MDU Resources Group news, Director Dennis W. Johnson purchased 30,000 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were purchased at an average price of $16.64 per share, for a total transaction of $499,200.00. Following the completion of the transaction, the director now owns 180,166 shares in the company, valued at $2,997,962.24. This represents a 19.98 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by company insiders.

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.