MDU Resources Group (NYSE:MDU) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of MDU Resources Group (NYSE:MDU) in a research report released on Monday morning. The brokerage issued a hold rating on the utilities provider’s stock.

Separately, Bank of America reissued a “neutral” rating and issued a $31.00 price objective (up previously from $30.00) on shares of MDU Resources Group in a research report on Monday, October 21st.

MDU Resources Group Price Performance

Shares of MDU Resources Group stock opened at $28.92 on Monday. The business’s fifty day moving average price is $27.12 and its 200 day moving average price is $25.83. MDU Resources Group has a twelve month low of $18.04 and a twelve month high of $30.52. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $5.90 billion, a P/E ratio of 12.36, a PEG ratio of 2.71 and a beta of 0.77.

MDU Resources Group (NYSE:MDU) last released its quarterly earnings data on Thursday, August 8th. The utilities provider reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.11. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.06 billion. MDU Resources Group had a return on equity of 11.29% and a net margin of 9.25%. The company’s revenue was down 4.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.29 EPS. As a group, research analysts anticipate that MDU Resources Group will post 1.57 earnings per share for the current year.

MDU Resources Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Thursday, September 12th were issued a dividend of $0.13 per share. This is an increase from MDU Resources Group’s previous quarterly dividend of $0.13. This represents a $0.52 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend was Thursday, September 12th. MDU Resources Group’s dividend payout ratio (DPR) is presently 22.22%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its stake in MDU Resources Group by 6.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,894,826 shares of the utilities provider’s stock worth $47,750,000 after buying an additional 119,665 shares during the period. State of Michigan Retirement System grew its stake in shares of MDU Resources Group by 2.5% during the first quarter. State of Michigan Retirement System now owns 50,020 shares of the utilities provider’s stock valued at $1,261,000 after acquiring an additional 1,200 shares in the last quarter. IVC Wealth Advisors LLC purchased a new stake in shares of MDU Resources Group during the first quarter worth about $202,000. Retirement Systems of Alabama lifted its stake in shares of MDU Resources Group by 0.3% in the first quarter. Retirement Systems of Alabama now owns 255,718 shares of the utilities provider’s stock worth $6,444,000 after acquiring an additional 671 shares in the last quarter. Finally, Private Advisor Group LLC boosted its holdings in MDU Resources Group by 17.7% in the first quarter. Private Advisor Group LLC now owns 62,422 shares of the utilities provider’s stock valued at $1,573,000 after purchasing an additional 9,397 shares during the last quarter. 71.44% of the stock is owned by institutional investors and hedge funds.

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.