MDU Resources Group (NYSE:MDU) Updates FY22 Earnings Guidance

MDU Resources Group (NYSE:MDUGet Rating) issued an update on its FY22 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.75-1.95 for the period, compared to the consensus earnings per share estimate of $2.01. MDU Resources Group also updated its FY 2022 guidance to $1.75-$1.90 EPS.

MDU Resources Group Trading Down 2.1 %

Shares of NYSE MDU traded down $0.62 during trading on Friday, reaching $29.20. The company had a trading volume of 2,105,013 shares, compared to its average volume of 1,162,517. The company’s fifty day moving average price is $27.17 and its 200-day moving average price is $27.03. MDU Resources Group has a 12 month low of $24.92 and a 12 month high of $33.34. The stock has a market cap of $5.94 billion, a P/E ratio of 18.14, a PEG ratio of 2.12 and a beta of 0.75. The company has a quick ratio of 1.02, a current ratio of 1.35 and a debt-to-equity ratio of 0.77.

MDU Resources Group (NYSE:MDUGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The utilities provider reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.16). The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.48 billion. MDU Resources Group had a net margin of 5.32% and a return on equity of 9.76%. The firm’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.50 earnings per share. As a group, research analysts expect that MDU Resources Group will post 2.05 earnings per share for the current year.

MDU Resources Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 1st. Shareholders of record on Thursday, June 9th were issued a dividend of $0.2175 per share. This represents a $0.87 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend was Wednesday, June 8th. MDU Resources Group’s dividend payout ratio is currently 54.04%.

Analyst Ratings Changes

Separately, Bank of America lowered MDU Resources Group from a buy rating to a neutral rating and boosted their price objective for the stock from $29.00 to $30.00 in a report on Friday.

Hedge Funds Weigh In On MDU Resources Group

Institutional investors have recently modified their holdings of the business. Pearl River Capital LLC purchased a new stake in shares of MDU Resources Group during the first quarter worth $744,000. Mirabella Financial Services LLP purchased a new stake in shares of MDU Resources Group in the first quarter worth $732,000. Bridgewater Associates LP raised its position in MDU Resources Group by 127.4% during the first quarter. Bridgewater Associates LP now owns 25,753 shares of the utilities provider’s stock valued at $686,000 after purchasing an additional 14,426 shares in the last quarter. American Century Companies Inc. raised its position in MDU Resources Group by 21.3% during the first quarter. American Century Companies Inc. now owns 20,101 shares of the utilities provider’s stock valued at $536,000 after purchasing an additional 3,523 shares in the last quarter. Finally, Walleye Capital LLC purchased a new stake in MDU Resources Group during the first quarter valued at about $404,000. 70.14% of the stock is owned by institutional investors.

MDU Resources Group Company Profile

(Get Rating)

MDU Resources Group, Inc engages in the regulated energy delivery, and construction materials and services businesses in the United States. The company's Electric segment generates, transmits, and distributes electricity for residential, commercial, industrial, and municipal customers in Montana, North Dakota, South Dakota, and Wyoming, as well as operates 3,500 miles of transmission lines and 4,800 miles of distribution lines.

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