Jupiter Asset Management Ltd. Invests $11.11 Million in MDU Resources Group, Inc. (NYSE:MDU)

Jupiter Asset Management Ltd. purchased a new position in shares of MDU Resources Group, Inc. (NYSE:MDU - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 442,428 shares of the utilities provider's stock, valued at approximately $11,105,000. Jupiter Asset Management Ltd. owned about 0.22% of MDU Resources Group at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. American Century Companies Inc. lifted its holdings in MDU Resources Group by 30.7% during the 2nd quarter. American Century Companies Inc. now owns 4,158,224 shares of the utilities provider's stock worth $104,371,000 after buying an additional 977,487 shares during the last quarter. United Services Automobile Association increased its position in shares of MDU Resources Group by 6.0% during the second quarter. United Services Automobile Association now owns 15,553 shares of the utilities provider's stock worth $390,000 after purchasing an additional 878 shares in the last quarter. Choreo LLC acquired a new stake in shares of MDU Resources Group during the second quarter worth about $276,000. Ashton Thomas Private Wealth LLC increased its position in shares of MDU Resources Group by 8.9% during the second quarter. Ashton Thomas Private Wealth LLC now owns 17,033 shares of the utilities provider's stock worth $428,000 after purchasing an additional 1,392 shares in the last quarter. Finally, Private Advisor Group LLC increased its position in shares of MDU Resources Group by 4.2% during the second quarter. Private Advisor Group LLC now owns 65,063 shares of the utilities provider's stock worth $1,633,000 after purchasing an additional 2,641 shares in the last quarter. 71.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. StockNews.com cut MDU Resources Group from a "buy" rating to a "hold" rating in a research report on Friday, July 26th. Argus upgraded MDU Resources Group from a "hold" rating to a "buy" rating and set a $30.00 target price on the stock in a research report on Monday, May 20th.

MDU Resources Group Stock Performance

MDU stock traded up $1.82 during trading on Friday, hitting $27.40. The company had a trading volume of 2,764,173 shares, compared to its average volume of 1,170,662. The firm has a market cap of $5.59 billion, a PE ratio of 11.71, a price-to-earnings-growth ratio of 2.70 and a beta of 0.77. MDU Resources Group, Inc. has a 1-year low of $18.04 and a 1-year high of $27.75. The firm has a 50-day moving average price of $25.40 and a 200-day moving average price of $24.70. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 0.73.

MDU Resources Group (NYSE:MDU - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.11. MDU Resources Group had a return on equity of 11.29% and a net margin of 9.25%. The firm had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $1.06 billion. During the same quarter in the previous year, the firm posted $0.29 EPS. The firm's revenue for the quarter was down 4.0% on a year-over-year basis. On average, analysts expect that MDU Resources Group, Inc. will post 1.55 earnings per share for the current year.

MDU Resources Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Thursday, September 12th will be given a dividend of $0.13 per share. This is a boost from MDU Resources Group's previous quarterly dividend of $0.13. The ex-dividend date is Thursday, September 12th. This represents a $0.52 annualized dividend and a yield of 1.90%. MDU Resources Group's payout ratio is presently 21.37%.

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.