Voya Investment Management LLC Increases Holdings in MDU Resources Group, Inc. $MDU

Voya Investment Management LLC increased its stake in shares of MDU Resources Group, Inc. (NYSE:MDU) by 150.8% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 56,818 shares of the utilities provider’s stock after purchasing an additional 34,164 shares during the period. Voya Investment Management LLC’s holdings in MDU Resources Group were worth $1,012,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in shares of MDU Resources Group by 0.3% during the second quarter. Geode Capital Management LLC now owns 3,427,029 shares of the utilities provider’s stock valued at $57,144,000 after buying an additional 8,754 shares during the period. Frontier Capital Management Co. LLC grew its stake in MDU Resources Group by 19.7% during the second quarter. Frontier Capital Management Co. LLC now owns 2,790,814 shares of the utilities provider’s stock valued at $46,523,000 after acquiring an additional 460,180 shares in the last quarter. Norges Bank bought a new stake in MDU Resources Group during the 2nd quarter worth approximately $40,087,000. Adage Capital Partners GP L.L.C. lifted its stake in MDU Resources Group by 42.0% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,200,000 shares of the utilities provider’s stock worth $36,674,000 after purchasing an additional 651,136 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in MDU Resources Group by 11.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,566,781 shares of the utilities provider’s stock valued at $26,494,000 after purchasing an additional 166,206 shares during the period. Institutional investors own 71.44% of the company’s stock.

Wall Street Analysts Forecast Growth

MDU has been the topic of several research analyst reports. TD Cowen initiated coverage on shares of MDU Resources Group in a report on Thursday, October 16th. They issued a “hold” rating and a $20.00 price target on the stock. Zacks Research upgraded MDU Resources Group from a “strong sell” rating to a “hold” rating in a report on Thursday, December 4th. Weiss Ratings reiterated a “hold (c-)” rating on shares of MDU Resources Group in a research report on Monday. Jefferies Financial Group lifted their price objective on MDU Resources Group to $22.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Finally, Cowen initiated coverage on shares of MDU Resources Group in a research note on Wednesday, October 15th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $21.00.

MDU Resources Group Stock Down 0.3%

MDU stock opened at $19.73 on Wednesday. MDU Resources Group, Inc. has a fifty-two week low of $15.04 and a fifty-two week high of $21.49. The company has a market capitalization of $4.03 billion, a price-to-earnings ratio of 23.77, a price-to-earnings-growth ratio of 2.83 and a beta of 0.75. The business’s 50 day moving average price is $20.04 and its two-hundred day moving average price is $18.04. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.69 and a current ratio of 0.75.

MDU Resources Group (NYSE:MDU) last released its quarterly earnings results on Thursday, November 6th. The utilities provider reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.02. MDU Resources Group had a return on equity of 6.81% and a net margin of 9.02%.The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.32 EPS. MDU Resources Group has set its FY 2025 guidance at 0.900-0.950 EPS. As a group, analysts forecast that MDU Resources Group, Inc. will post 0.94 earnings per share for the current fiscal year.

MDU Resources Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Thursday, December 11th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Thursday, December 11th. MDU Resources Group’s dividend payout ratio (DPR) is presently 67.47%.

About MDU Resources Group

MDU Resources Group, Inc is a diversified energy and services holding company headquartered in Bismarck, North Dakota. The company operates through two primary segments: Utilities and Construction Services and Pipelines & Midstream. Serving a broad geographic footprint across the upper Midwest and Pacific Northwest, MDU provides essential energy distribution and infrastructure services to residential, commercial and industrial customers.

The Utilities segment delivers electric and natural gas distribution services in Montana, North Dakota, South Dakota, Minnesota, Kansas, Wisconsin, Michigan and Washington.