MDU Resources Group (NYSE:MDU) Shares Gap Down – Time to Sell?

Shares of MDU Resources Group, Inc. (NYSE:MDU) gapped down prior to trading on Monday . The stock had previously closed at $30.28, but opened at $29.56. MDU Resources Group shares last traded at $29.92, with a volume of 195,840 shares traded.

Analysts Set New Price Targets

A number of research analysts have weighed in on MDU shares. Bank of America reiterated a “neutral” rating and set a $31.00 price objective (up previously from $30.00) on shares of MDU Resources Group in a research report on Monday. StockNews.com initiated coverage on shares of MDU Resources Group in a report on Sunday. They issued a “hold” rating on the stock.

MDU Resources Group Stock Down 2.8 %

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 company has a market capitalization of $6.00 billion, a PE ratio of 12.71, a price-to-earnings-growth ratio of 2.66 and a beta of 0.77. The business’s 50-day simple moving average is $26.39 and its 200-day simple moving average is $25.60.

MDU Resources Group (NYSE:MDU) last issued its quarterly earnings data on Thursday, August 8th. The utilities provider reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.11. MDU Resources Group had a net margin of 9.25% and a return on equity of 11.29%. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter last year, the company earned $0.29 EPS. The business’s revenue was down 4.0% on a year-over-year basis. As a group, equities research analysts anticipate that MDU Resources Group, Inc. will post 1.58 EPS for the current fiscal year.

MDU Resources Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Thursday, September 12th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.77%. The ex-dividend date was Thursday, September 12th. This is a positive change from MDU Resources Group’s previous quarterly dividend of $0.13. MDU Resources Group’s payout ratio is currently 22.22%.

Institutional Investors Weigh In On MDU Resources Group

A number of hedge funds have recently modified their holdings of the company. Los Angeles Capital Management LLC purchased a new position in shares of MDU Resources Group in the first quarter valued at approximately $208,000. Ballentine Partners LLC acquired a new stake in MDU Resources Group in the first quarter valued at approximately $207,000. Register Financial Advisors LLC raised its holdings in MDU Resources Group by 6.9% in the first quarter. Register Financial Advisors LLC now owns 140,782 shares of the utilities provider’s stock valued at $3,548,000 after acquiring an additional 9,030 shares in the last quarter. Grimes & Company Inc. acquired a new stake in MDU Resources Group during the first quarter worth approximately $214,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of MDU Resources Group by 6.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,894,826 shares of the utilities provider’s stock valued at $47,750,000 after acquiring an additional 119,665 shares during the period. Hedge funds and other institutional investors own 71.44% of the company’s stock.

About MDU Resources Group

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.