MDU Resources Group, Inc. (NYSE:MDU) Shares Acquired by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. raised its holdings in shares of MDU Resources Group, Inc. (NYSE:MDU) by 162.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 525,000 shares of the utilities provider’s stock after buying an additional 325,000 shares during the period. Adage Capital Partners GP L.L.C.’s holdings in MDU Resources Group were worth $9,460,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. Hood River Capital Management LLC increased its position in shares of MDU Resources Group by 0.3% during the fourth quarter. Hood River Capital Management LLC now owns 1,108,137 shares of the utilities provider’s stock worth $19,969,000 after purchasing an additional 3,529 shares in the last quarter. Brasada Capital Management LP increased its position in shares of MDU Resources Group by 359.2% during the fourth quarter. Brasada Capital Management LP now owns 55,101 shares of the utilities provider’s stock worth $990,000 after purchasing an additional 43,101 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of MDU Resources Group by 9.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 129,165 shares of the utilities provider’s stock valued at $2,328,000 after acquiring an additional 11,533 shares during the period. Massar Capital Management LP acquired a new position in shares of MDU Resources Group in the 4th quarter valued at $956,000. Finally, Hsbc Holdings PLC acquired a new position in shares of MDU Resources Group in the 4th quarter valued at $1,865,000. 71.44% of the stock is owned by institutional investors and hedge funds.

MDU Resources Group Price Performance

Shares of MDU opened at $16.99 on Tuesday. The business’s 50-day moving average is $16.69 and its two-hundred day moving average is $18.71. The company has a market capitalization of $3.47 billion, a P/E ratio of 12.31, a P/E/G ratio of 2.76 and a beta of 0.68. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.07 and a current ratio of 1.15. MDU Resources Group, Inc. has a fifty-two week low of $13.23 and a fifty-two week high of $20.39.

MDU Resources Group (NYSE:MDU) last announced its quarterly earnings results on Thursday, February 6th. The utilities provider reported $0.34 earnings per share 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%. Research analysts predict that MDU Resources Group, Inc. will post 0.94 earnings per share for the current year.

MDU Resources Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Thursday, March 13th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 3.06%. The ex-dividend date was Thursday, March 13th. MDU Resources Group’s dividend payout ratio is currently 37.68%.

Insiders Place Their Bets

In other news, Director Dennis W. Johnson bought 30,000 shares of the stock in a transaction dated Monday, February 10th. The shares were acquired at an average cost of $16.64 per share, with a total value of $499,200.00. Following the purchase, the director now directly owns 180,166 shares in the company, valued at $2,997,962.24. The trade was a 19.98 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.94% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on MDU. Jefferies Financial Group began coverage on MDU Resources Group in a research report on Wednesday, January 8th. They issued a “hold” rating and a $18.00 target price on the stock. StockNews.com downgraded MDU Resources Group from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $21.00.

MDU Resources Group Company 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.