Peregrine Asset Advisers Inc. Acquires Shares of 163,034 MDU Resources Group, Inc. (MDU)

Peregrine Asset Advisers Inc. acquired a new stake in MDU Resources Group, Inc. (NYSE:MDU) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 163,034 shares of the utilities provider’s stock, valued at approximately $4,271,000. MDU Resources Group accounts for 2.7% of Peregrine Asset Advisers Inc.’s portfolio, making the stock its 16th biggest holding. Peregrine Asset Advisers Inc. owned about 0.08% of MDU Resources Group at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. AT Bancorp bought a new position in shares of MDU Resources Group in the second quarter valued at approximately $131,000. Global X Management Co. LLC boosted its position in shares of MDU Resources Group by 220.3% in the second quarter. Global X Management Co. LLC now owns 6,198 shares of the utilities provider’s stock valued at $162,000 after acquiring an additional 4,263 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of MDU Resources Group by 8.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,671 shares of the utilities provider’s stock valued at $175,000 after acquiring an additional 537 shares during the period. Mosaic Family Wealth LLC boosted its position in shares of MDU Resources Group by 5.7% in the second quarter. Mosaic Family Wealth LLC now owns 6,972 shares of the utilities provider’s stock valued at $183,000 after acquiring an additional 374 shares during the period. Finally, Ffcm LLC boosted its position in shares of MDU Resources Group by 5.7% in the second quarter. Ffcm LLC now owns 7,360 shares of the utilities provider’s stock valued at $193,000 after acquiring an additional 396 shares during the period. Institutional investors own 63.60% of the company’s stock.

A number of equities analysts have recently commented on MDU shares. Zacks Investment Research lowered shares of MDU Resources Group from a “hold” rating to a “strong sell” rating in a research report on Friday, July 28th. KeyCorp restated a “buy” rating and issued a $28.00 price objective on shares of MDU Resources Group in a research report on Friday, September 1st. Finally, BidaskClub lowered shares of MDU Resources Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. MDU Resources Group has a consensus rating of “Hold” and an average target price of $31.25.

In other MDU Resources Group news, CEO David L. Goodin purchased 5,000 shares of the company’s stock in a transaction on Friday, August 11th. The stock was acquired at an average cost of $25.57 per share, for a total transaction of $127,850.00. Following the purchase, the chief executive officer now directly owns 95,210 shares of the company’s stock, valued at approximately $2,434,519.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.95% of the company’s stock.

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Shares of MDU Resources Group, Inc. (NYSE MDU) traded down 0.51% during midday trading on Tuesday, reaching $27.52. 97,509 shares of the company were exchanged. MDU Resources Group, Inc. has a 12-month low of $23.06 and a 12-month high of $29.92. The stock has a market capitalization of $5.37 billion, a P/E ratio of 23.93 and a beta of 0.92. The company has a 50 day moving average price of $26.31 and a 200-day moving average price of $26.65.

MDU Resources Group (NYSE:MDU) last posted its quarterly earnings results on Tuesday, August 1st. The utilities provider reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.03). MDU Resources Group had a return on equity of 10.24% and a net margin of 5.37%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the company earned $0.24 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, analysts forecast that MDU Resources Group, Inc. will post $1.21 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Thursday, September 14th will be paid a $0.1925 dividend. The ex-dividend date of this dividend is Wednesday, September 13th. This represents a $0.77 annualized dividend and a yield of 2.78%. MDU Resources Group’s payout ratio is 66.96%.

About MDU Resources Group

MDU Resources Group, Inc is engaged in regulated energy delivery and construction materials and services business. The Company’s businesses segments are electric, natural gas distribution, pipeline and midstream, construction materials and contracting, and construction services. The electric segment generates, transmits and distributes electricity.

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Institutional Ownership by Quarter for MDU Resources Group (NYSE:MDU)

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