Hennessy Advisors Inc. Increases Stock Holdings in MDU Resources Group, Inc. (NYSE:MDU)

Hennessy Advisors Inc. grew its holdings in shares of MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 1,098.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,155,007 shares of the utilities provider's stock after buying an additional 1,975,200 shares during the quarter. Hennessy Advisors Inc. owned 1.06% of MDU Resources Group worth $38,833,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MDU. Assenagon Asset Management S.A. grew its position in MDU Resources Group by 42.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 115,907 shares of the utilities provider's stock valued at $2,089,000 after acquiring an additional 34,409 shares during the last quarter. Friedenthal Financial bought a new position in shares of MDU Resources Group in the fourth quarter worth about $778,000. JPMorgan Chase & Co. increased its stake in MDU Resources Group by 32.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 855,493 shares of the utilities provider's stock worth $23,449,000 after buying an additional 209,042 shares during the period. Geode Capital Management LLC increased its stake in MDU Resources Group by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,719,543 shares of the utilities provider's stock worth $101,978,000 after buying an additional 65,433 shares during the period. Finally, Barclays PLC lifted its holdings in MDU Resources Group by 7.8% during the 3rd 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 in the last quarter. 71.44% of the stock is currently owned by hedge funds and other institutional investors.

MDU Resources Group Stock Down 0.6 %

NYSE:MDU traded down $0.11 during trading hours on Friday, reaching $18.34. The company's stock had a trading volume of 10,281,779 shares, compared to its average volume of 1,468,781. The stock has a 50 day moving average price of $18.65 and a two-hundred day moving average price of $23.32. 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 company has a market capitalization of $3.74 billion, a P/E ratio of 9.41, a price-to-earnings-growth ratio of 2.65 and a beta of 0.81. MDU Resources Group, Inc. has a 12 month low of $14.91 and a 12 month high of $30.52.

MDU Resources Group (NYSE:MDU - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. MDU Resources Group had a return on equity of 11.24% and a net margin of 8.92%. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $969.17 million. During the same period in the previous year, the company posted $0.29 EPS. The business's revenue for the quarter was up 5.0% compared to the same quarter last year. Equities analysts predict that MDU Resources Group, Inc. will post 1.09 EPS for the current fiscal year.

MDU Resources Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Thursday, December 12th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend was Thursday, December 12th. MDU Resources Group's dividend payout ratio is currently 26.67%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MDU shares. Bank of America upgraded shares of MDU Resources Group from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $31.00 to $17.00 in a research note on Tuesday, November 5th. Siebert Williams Shank upgraded MDU Resources Group from a "hold" rating to a "buy" rating and set a $19.00 price objective on the stock in a report on Monday, November 4th. Jefferies Financial Group began coverage on MDU Resources Group in a research report on Wednesday, January 8th. They set a "hold" rating and a $18.00 target price for the company. Finally, StockNews.com initiated coverage on MDU Resources Group in a research report on Friday, January 3rd. They set a "hold" rating on the stock. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $21.00.

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.