Resolute Capital Asset Partners LLC Buys Shares of 80,000 MDU Resources Group, Inc. (NYSE:MDU)

Resolute Capital Asset Partners LLC acquired a new stake in MDU Resources Group, Inc. (NYSE:MDU - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 80,000 shares of the utilities provider's stock, valued at approximately $2,008,000.

Several other institutional investors have also added to or reduced their stakes in the business. BNP Paribas Financial Markets raised its position in shares of MDU Resources Group by 155.7% in the fourth quarter. BNP Paribas Financial Markets now owns 107,011 shares of the utilities provider's stock valued at $2,119,000 after purchasing an additional 65,161 shares during the period. Independent Advisor Alliance bought a new stake in MDU Resources Group during the 4th quarter valued at $204,000. ING Groep NV purchased a new stake in shares of MDU Resources Group during the fourth quarter worth $1,564,000. Norges Bank bought a new position in shares of MDU Resources Group in the fourth quarter worth $38,971,000. Finally, PNC Financial Services Group Inc. grew its position in shares of MDU Resources Group by 6.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 87,051 shares of the utilities provider's stock valued at $1,724,000 after purchasing an additional 5,206 shares in the last quarter. 71.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com cut MDU Resources Group from a "buy" rating to a "hold" rating in a report on Friday, July 26th.

MDU Resources Group Price Performance

NYSE:MDU traded up $0.46 during mid-day trading on Thursday, hitting $26.63. 1,323,838 shares of the stock traded hands, compared to its average volume of 1,186,855. The business's 50-day moving average price is $25.60 and its 200 day moving average price is $24.88. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 0.73. The company has a market cap of $5.43 billion, a PE ratio of 11.38, a price-to-earnings-growth ratio of 2.70 and a beta of 0.77. MDU Resources Group, Inc. has a 12-month low of $18.04 and a 12-month high of $27.78.

MDU Resources Group (NYSE:MDU - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.32 EPS for the quarter, beating the consensus estimate of $0.21 by $0.11. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.06 billion. MDU Resources Group had a net margin of 9.25% and a return on equity of 11.29%. The business's quarterly revenue was down 4.0% compared to the same quarter last year. During the same period last year, the firm earned $0.29 EPS. On average, analysts expect that MDU Resources Group, Inc. will post 1.55 EPS for the current fiscal 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 paid a $0.13 dividend. This is a positive change from MDU Resources Group's previous quarterly dividend of $0.13. This represents a $0.52 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Thursday, September 12th. MDU Resources Group's dividend payout ratio is currently 22.22%.

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.