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

StockNews.com initiated coverage on shares of MDU Resources Group (NYSE:MDU) in a report released on Tuesday morning. The firm issued a hold rating on the utilities provider’s stock.

Several other research firms also recently weighed in on MDU. Bank of America raised shares of MDU Resources Group from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $31.00 to $17.00 in a research report on Tuesday, November 5th. Siebert Williams Shank upgraded MDU Resources Group from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Monday, November 4th.

MDU Resources Group Stock Down 0.6 %

MDU Resources Group stock opened at $18.81 on Tuesday. 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 firm has a market cap of $3.84 billion, a P/E ratio of 9.65, a P/E/G ratio of 2.52 and a beta of 0.79. The business has a fifty day moving average of $22.71 and a two-hundred day moving average of $24.56. 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 data on Thursday, November 7th. The utilities provider reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. MDU Resources Group had a return on equity of 11.24% and a net margin of 8.92%. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $969.17 million. During the same period in the prior year, the business posted $0.29 EPS. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. On average, analysts forecast that MDU Resources Group will post 1.13 earnings per share for the current fiscal year.

MDU Resources Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Thursday, December 12th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.52 annualized dividend and a dividend yield of 2.76%. MDU Resources Group’s dividend payout ratio (DPR) is 26.67%.

Institutional Investors Weigh In On MDU Resources Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MDU. Assenagon Asset Management S.A. purchased a new stake in MDU Resources Group in the 3rd quarter valued at about $2,234,000. SG Americas Securities LLC purchased a new stake in shares of MDU Resources Group in the 2nd quarter valued at approximately $2,198,000. Foundry Partners LLC purchased a new position in shares of MDU Resources Group during the 3rd quarter worth approximately $4,594,000. Resolute Capital Asset Partners LLC acquired a new stake in MDU Resources Group in the 2nd quarter valued at approximately $2,008,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in MDU Resources Group by 5.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,082,468 shares of the utilities provider’s stock worth $57,080,000 after purchasing an additional 101,955 shares in the last quarter. Hedge funds and other institutional investors own 71.44% of the company’s stock.

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.