MDU Resources Group (NYSE:MDU) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of MDU Resources Group (NYSE:MDUFree Report) from a hold rating to a buy rating in a report published on Friday.

MDU Resources Group Price Performance

NYSE:MDU opened at $20.60 on Friday. The stock has a 50 day moving average of $19.56 and a two-hundred day moving average of $19.62. MDU Resources Group has a 12 month low of $18.04 and a 12 month high of $22.55. The firm has a market cap of $4.19 billion, a P/E ratio of 10.10, a price-to-earnings-growth ratio of 2.29 and a beta of 0.75. The company has a current ratio of 1.29, a quick ratio of 1.22 and a debt-to-equity ratio of 0.83.

MDU Resources Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 1st. Investors of record on Thursday, December 14th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend was Wednesday, December 13th. MDU Resources Group’s dividend payout ratio is currently 24.51%.

Institutional Investors Weigh In On MDU Resources Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of MDU Resources Group by 1.0% in the third quarter. Vanguard Group Inc. now owns 21,677,094 shares of the utilities provider’s stock worth $592,868,000 after buying an additional 218,558 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of MDU Resources Group by 1.4% during the 2nd quarter. BlackRock Inc. now owns 19,089,418 shares of the utilities provider’s stock worth $399,732,000 after purchasing an additional 269,302 shares during the last quarter. State Street Corp increased its holdings in shares of MDU Resources Group by 12.5% in the first quarter. State Street Corp now owns 15,468,160 shares of the utilities provider’s stock valued at $415,454,000 after purchasing an additional 1,716,930 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in MDU Resources Group by 16.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,181,092 shares of the utilities provider’s stock worth $122,386,000 after buying an additional 858,100 shares in the last quarter. Finally, 59 North Capital Management LP boosted its stake in MDU Resources Group by 33.9% during the second quarter. 59 North Capital Management LP now owns 3,650,989 shares of the utilities provider’s stock worth $76,452,000 after buying an additional 924,618 shares during the last quarter. Institutional investors and hedge funds own 71.24% of the company’s stock.

MDU Resources Group Company Profile

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MDU Resources Group, Inc engages in the regulated energy delivery, and construction materials and services businesses in the United States. It operates through five segments: Electric, Natural Gas Distribution, Pipeline, Construction Materials and Contracting, 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 84 transmission and 294 distribution substations.

Further Reading

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