MDU Resources Group (NYSE:MDU) Research Coverage Started at StockNews.com

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

MDU has been the subject of a number of other research reports. Bank of America upgraded MDU Resources Group from a “neutral” rating to a “buy” rating and cut their price target for the stock from $31.00 to $17.00 in a research note on Tuesday, November 5th. Siebert Williams Shank raised MDU Resources Group from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Monday, November 4th.

MDU Resources Group Trading Down 0.7 %

Shares of MDU opened at $18.20 on Thursday. The stock has a market cap of $3.71 billion, a PE ratio of 9.33, a P/E/G ratio of 2.44 and a beta of 0.79. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.73. The business’s 50-day moving average price is $20.45 and its 200-day moving average price is $24.05. MDU Resources Group has a twelve month low of $14.91 and a twelve month high of $30.52.

MDU Resources Group (NYSE:MDU) last issued its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01. MDU Resources Group had a net margin of 8.92% and a return on equity of 11.24%. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $969.17 million. During the same quarter last year, the company posted $0.29 EPS. The company’s revenue was up 5.0% compared to the same quarter last year. On average, equities analysts forecast that MDU Resources Group will post 1.13 EPS for the current fiscal year.

MDU Resources Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Thursday, December 12th will be given a dividend of $0.13 per share. The ex-dividend date is Thursday, December 12th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.86%. MDU Resources Group’s payout ratio is 26.67%.

Institutional Investors Weigh In On MDU Resources Group

A number of hedge funds have recently made changes to their positions in MDU. V Square Quantitative Management LLC bought a new stake in MDU Resources Group in the 3rd quarter worth approximately $25,000. Atlas Capital Advisors LLC purchased a new stake in MDU Resources Group during the second quarter valued at $27,000. Venturi Wealth Management LLC lifted its position in MDU Resources Group by 158.9% during the third quarter. Venturi Wealth Management LLC now owns 1,196 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 734 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of MDU Resources Group in the 3rd quarter worth $40,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of MDU Resources Group by 23.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,142 shares of the utilities provider’s stock worth $54,000 after buying an additional 413 shares during the last quarter. 71.44% of the stock is currently owned by hedge funds and other institutional investors.

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.