StockNews.com Initiates Coverage on MDU Resources Group (NYSE:MDU)

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

Several other brokerages have also issued reports on MDU. 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 report on Monday, November 4th. Bank of America upgraded shares of MDU Resources Group from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $31.00 to $17.00 in a research note on Tuesday, November 5th.

MDU Resources Group Trading Down 5.0 %

Shares of MDU opened at $17.62 on Wednesday. The company has a 50-day moving average of $21.97 and a 200 day moving average of $24.37. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.15 and a quick ratio of 1.07. MDU Resources Group has a 1-year low of $14.91 and a 1-year high of $30.52. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of 9.04, a PEG ratio of 2.46 and a beta of 0.79.

MDU Resources Group (NYSE:MDU) last issued its earnings results on Thursday, November 7th. The utilities provider reported $0.32 earnings per share (EPS) 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 company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $969.17 million. During the same period in the prior year, the business earned $0.29 EPS. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. On average, research analysts expect that MDU Resources Group will post 1.13 EPS for the current year.

MDU Resources Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Thursday, December 12th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.52 dividend on an annualized basis and a yield of 2.95%. MDU Resources Group’s payout ratio is 26.67%.

Institutional Inflows and Outflows

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

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.