Brasada Capital Management LP Purchases 43,101 Shares of MDU Resources Group, Inc. (NYSE:MDU)

Brasada Capital Management LP raised its position in MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 359.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,101 shares of the utilities provider's stock after purchasing an additional 43,101 shares during the period. Brasada Capital Management LP's holdings in MDU Resources Group were worth $990,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Barclays PLC boosted its stake in MDU Resources Group by 7.8% during the third quarter. Barclays PLC now owns 87,022 shares of the utilities provider's stock valued at $2,386,000 after buying an additional 6,264 shares during the period. JPMorgan Chase & Co. boosted its position in shares of MDU Resources Group by 32.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 855,493 shares of the utilities provider's stock valued at $23,449,000 after acquiring an additional 209,042 shares during the last quarter. Friedenthal Financial purchased a new position in shares of MDU Resources Group during the fourth quarter worth about $778,000. Assenagon Asset Management S.A. increased its position in shares of MDU Resources Group by 42.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 115,907 shares of the utilities provider's stock worth $2,089,000 after purchasing an additional 34,409 shares during the last quarter. Finally, Hennessy Advisors Inc. lifted its position in 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 purchasing an additional 1,975,200 shares during the last quarter. 71.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MDU has been the topic of several research reports. Jefferies Financial Group assumed coverage on shares of MDU Resources Group in a research report on Wednesday, January 8th. They set a "hold" rating and a $18.00 price objective on the stock. StockNews.com lowered MDU Resources Group from a "hold" rating to a "sell" rating in a research note on Thursday, February 20th. 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 stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $21.00.

Insider Activity

In other MDU Resources Group news, Director Dennis W. Johnson purchased 30,000 shares of MDU Resources Group stock in a transaction that occurred on Monday, February 10th. The shares were bought at an average price of $16.64 per share, for a total transaction of $499,200.00. Following the acquisition, the director now directly owns 180,166 shares in the company, valued at approximately $2,997,962.24. This trade represents a 19.98 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.94% of the company's stock.

MDU Resources Group Price Performance

Shares of MDU Resources Group stock opened at $16.74 on Wednesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.07 and a current ratio of 1.15. The stock has a market capitalization of $3.42 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 2.76 and a beta of 0.68. The company has a fifty day moving average of $16.68 and a 200-day moving average of $19.08. MDU Resources Group, Inc. has a 52-week low of $13.23 and a 52-week high of $20.39.

MDU Resources Group (NYSE:MDU - Get Free Report) last released its quarterly earnings data 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 expect that MDU Resources Group, Inc. will post 0.94 EPS for the current year.

MDU Resources Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Thursday, March 13th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend was Thursday, March 13th. MDU Resources Group's payout ratio is 37.68%.

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.

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