Pertento Partners LLP Purchases 1,419,118 Shares of MDU Resources Group, Inc. (NYSE:MDU)

Pertento Partners LLP increased its position in shares of MDU Resources Group, Inc. (NYSE:MDU) by 90.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,990,144 shares of the utilities provider’s stock after purchasing an additional 1,419,118 shares during the quarter. MDU Resources Group accounts for 4.6% of Pertento Partners LLP’s investment portfolio, making the stock its 7th biggest holding. Pertento Partners LLP owned approximately 1.47% of MDU Resources Group worth $53,882,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of MDU. Friedenthal Financial purchased a new position in shares of MDU Resources Group during the 4th quarter worth approximately $778,000. Assenagon Asset Management S.A. increased its position in MDU Resources Group by 42.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 115,907 shares of the utilities provider’s stock worth $2,089,000 after buying an additional 34,409 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of MDU Resources Group by 5.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,082,468 shares of the utilities provider’s stock worth $57,080,000 after acquiring an additional 101,955 shares during the last quarter. Cascade Investment Advisors Inc. lifted its position in shares of MDU Resources Group by 21.3% in the fourth quarter. Cascade Investment Advisors Inc. now owns 81,626 shares of the utilities provider’s stock valued at $1,471,000 after acquiring an additional 14,360 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of MDU Resources Group by 32.3% during the third quarter. JPMorgan Chase & Co. now owns 855,493 shares of the utilities provider’s stock valued at $23,449,000 after acquiring an additional 209,042 shares during the last quarter. 71.44% of the stock is currently owned by hedge funds and other institutional investors.

MDU Resources Group Price Performance

MDU opened at $16.67 on Friday. MDU Resources Group, Inc. has a 1 year low of $12.99 and a 1 year high of $20.39. The company’s 50 day simple moving average is $17.11 and its 200 day simple moving average is $20.46. The stock has a market capitalization of $3.41 billion, a PE ratio of 12.08, a P/E/G ratio of 2.76 and a beta of 0.81. 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 (NYSE:MDU) last announced its quarterly earnings results on Thursday, February 6th. The utilities provider reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. MDU Resources Group had a net margin of 7.31% and a return on equity of 10.20%. As a group, sell-side analysts expect that MDU Resources Group, Inc. will post 0.94 EPS for the current year.

MDU Resources Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Thursday, March 13th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Thursday, March 13th. MDU Resources Group’s dividend payout ratio is currently 37.68%.

Analysts Set New Price Targets

A number of research firms have issued reports on MDU. Jefferies Financial Group initiated coverage on shares of MDU Resources Group in a report on Wednesday, January 8th. They issued a “hold” rating and a $18.00 target price on the stock. StockNews.com downgraded shares of MDU Resources Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, MDU Resources Group currently has an average rating of “Hold” and an average price target of $21.00.

Insider Transactions at MDU Resources Group

In other MDU Resources Group news, Director Dennis W. Johnson purchased 30,000 shares of MDU Resources Group stock in a transaction on Monday, February 10th. The shares were purchased at an average cost of $16.64 per share, with a total value of $499,200.00. Following the completion of the transaction, the director now directly owns 180,166 shares in the company, valued at approximately $2,997,962.24. This represents a 19.98 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.00% of the company’s stock.

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.