Zacks Investment Research upgraded shares of MDU Resources Group (NYSE:MDU) from a sell rating to a hold rating in a research report report published on Thursday morning.
According to Zacks, “MDU Resources Group, Inc. provides value-added natural resource products and related services that are essential to energy and transportation infrastructure, including regulated businesses, an exploration and production company and construction companies. MDU Resources includes regulated electric and natural gas utilities and regulated natural gas pipelines and energy services, natural gas and oil production, construction materials and contracting, and construction services. “
Separately, KeyCorp reaffirmed a buy rating and set a $28.00 price objective on shares of MDU Resources Group in a research report on Friday, October 20th.
Shares of MDU Resources Group (MDU) traded down $0.18 during trading hours on Thursday, hitting $26.58. The stock had a trading volume of 553,400 shares, compared to its average volume of 809,700. MDU Resources Group has a 12-month low of $25.14 and a 12-month high of $29.74. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.28 and a quick ratio of 1.01. The company has a market cap of $5,226.35, a price-to-earnings ratio of 22.53, a P/E/G ratio of 2.59 and a beta of 0.92.
MDU Resources Group (NYSE:MDU) last posted its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.03). MDU Resources Group had a net margin of 5.39% and a return on equity of 10.20%. The company had revenue of $1.27 billion for the quarter. During the same period in the previous year, the business posted $0.45 earnings per share. analysts forecast that MDU Resources Group will post 1.19 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, January 1st. Investors of record on Thursday, December 14th were given a dividend of $0.1975 per share. This represents a $0.79 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date was Wednesday, December 13th. This is a positive change from MDU Resources Group’s previous quarterly dividend of $0.19. MDU Resources Group’s dividend payout ratio (DPR) is 66.95%.
A number of institutional investors and hedge funds have recently modified their holdings of MDU. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in MDU Resources Group by 8.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,671 shares of the utilities provider’s stock valued at $175,000 after purchasing an additional 537 shares during the last quarter. Ffcm LLC boosted its stake in MDU Resources Group by 5.7% during the 2nd quarter. Ffcm LLC now owns 7,360 shares of the utilities provider’s stock valued at $193,000 after purchasing an additional 396 shares during the last quarter. Sei Investments Co. boosted its stake in MDU Resources Group by 47.4% during the 3rd quarter. Sei Investments Co. now owns 7,509 shares of the utilities provider’s stock valued at $195,000 after purchasing an additional 2,414 shares during the last quarter. Gs Investments Inc. purchased a new stake in MDU Resources Group during the 2nd quarter valued at $200,000. Finally, Eqis Capital Management Inc. purchased a new stake in MDU Resources Group during the 3rd quarter valued at $203,000. Institutional investors and hedge funds own 63.54% of the company’s stock.
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About MDU Resources Group
MDU Resources Group, Inc is engaged in regulated energy delivery and construction materials and services business. The Company’s businesses segments are electric, natural gas distribution, pipeline and midstream, construction materials and contracting, and construction services. The electric segment generates, transmits and distributes electricity.
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