Fmr LLC Increases Stake in MDU Resources Group, Inc. – Promising Outlook for Potential Investors

September 4, 2023

&Fmr LLC Increases Stake in MDU Resources Group, Inc.

Investment management firm &Fmr LLC has recently announced that it has raised its position in MDU Resources Group, Inc. (NYSE:MDU) by 32.9% during the first quarter of this year, according to its latest disclosure with the Securities & Exchange Commission. The firm now owns a total of 3,301,805 shares of the utilities provider’s stock after acquiring an additional 817,621 shares during the quarter. At the end of the most recent reporting period, Fmr LLC owned approximately 1.62% of MDU Resources Group’s market value, amounting to $100,639,000.

MDU Resources Group is a well-known company operating in the utilities sector and traded on the New York Stock Exchange under the ticker symbol “MDU”. As part of its corporate strategy and growth plans, MDU Resources aims to deliver enhanced shareholder value through continuous development and expansion in its utility business segments.

In their most recent announcement on August 3rd, MDU Resources Group disclosed its quarterly earnings data. The utilities provider reported earnings per share (EPS) of $0.29 for the quarter. Additionally, they generated revenue amounting to $1.09 billion during that period. With a return on equity of 11.50% and a net margin standing at 6.51%, MDU Resources Group continues to demonstrate solid financial performance.

Financial analysts have forecasted that MDU Resources Group will achieve earnings per share of $1.36 for the current year. This projection highlights positive expectations regarding future profitability and suggests a promising outlook for potential investors considering an investment in the company’s stock.

As with any investment decision-making process, potential investors should exercise due diligence and conduct thorough research before making any investment decisions regarding MDU Resources Group or any other stocks in the market. Market conditions and individual investment goals should be taken into consideration before moving forward with any investment strategy.

About MDU Resources Group:
MDU Resources Group, Inc. is a publicly traded company listed on the New York Stock Exchange (NYSE: MDU) and operates across various utility sectors. With a focus on delivering reliable energy services to its customers, MDU Resources strives to maintain high standards of operational excellence and sustainable growth in an ever-evolving industry landscape.

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial advice. Any investment decision should be based on individual research and consultation with a professional financial advisor.

Institutional Investors Adjust Holdings of MDU Resources Group as Stock Shows Potential

Institutional investors have made significant modifications to their holdings of MDU Resources Group (NYSE:MDU), as disclosed in recent reports. Norges Bank, the Norwegian central bank, has acquired a new position in MDU Resources Group during the fourth quarter of 2022, with an investment worth approximately $61,385,000. State Street Corp also revealed its increased stake in MDU Resources Group by 12.5% during the first quarter of 2023. The corporation now owns 15,468,160 shares of the utilities provider’s stock valued at $415,454,000 after purchasing an additional 1,716,930 shares in the last quarter.

Meanwhile, Millennium Management LLC witnessed a substantial growth in its holdings in MDU Resources Group as well. Its ownership rose by 275.4% during the fourth quarter of last year. Currently, Millennium Management LLC holds approximately 997,934 shares of MDU Resources Group’s stock valued at $30,277,000 after acquiring an additional 732,104 shares in the last quarter. Invesco Ltd., another institutional investor and hedge fund firm, also expanded its holdings in MDU Resources Group by 55.2% during the first quarter of this year. Invesco Ltd. now possesses around 1,852,604 shares of MDU Resources Group’s stock valued at $49,372,000 after buying an additional 659,078 shares.

Additionally among institutional investors is Sasco Capital Inc. CT which recently purchased a new stake in MDU Resources Group with a value of approximately $15 million during the fourth quarter of last year. As it stands currently, a significant majority – precisely 71.24% – of MDU Resources Group’s stock is owned by institutional investors and hedge funds.

On Monday morning trading session on September 4th this year marked an opening price for shares NYSE:MDU at $20.48 per share. MDU Resources Group currently boasts a market capitalization of $4.17 billion and has a price-to-earnings (PE) ratio of 9.62, indicating its relatively low valuation multiples compared to industry peers. Furthermore, the company’s PE ratio is suggestive of its attractive investment potential given its recent financial performance.

MDU Resources Group operates in the utility sector and holds a beta coefficient of 0.77, portraying lower volatility compared to the broader market. The company also maintains strong financial standing with a debt-to-equity ratio of 0.83, indicating prudent debt management and sound capital structure practices. Moreover, MDU Resources Group boasts healthy liquidity positions with both its current ratio at 1.37 and quick ratio at 1.31.

In terms of stock performance indicators, MDU Resources Group held a fifty-day moving average price of $21.12, while its two-hundred-day moving average price stood at $25.66 as of September 4th this year.

Despite these positive aspects surrounding MDU Resources Group’s performance, the company recently declared a quarterly dividend to be paid on Sunday, October 1st this year. Stockholders who held shares recorded as of Thursday, September 14th will receive $0.125 per share as a dividend payout – marking an annualized dividend amounting to $0.50 per share and yielding an attractive rate of return at approximately 2.44%.

Several brokerages have also commented on MDU in their recent reports including Bank of America which upgraded the company from an “underperform” rating to “buy.” Similarly, StockNews.com initiated coverage on MDU Resources Group with a “hold” rating for the stock.

As we can observe from institutional investor activity and thorough analysis of key financial metrics, it is apparent that MDU Resources Group continues to attract investors’ attention despite recent market fluctuations. Investors should keep a close eye on the company’s developments and monitor brokerages’ recommendations, as these factors will greatly influence future investment decisions.