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

StockNews.com initiated coverage on shares of MDU Resources Group (NYSE:MDU) in a research note issued to investors on Monday. The firm issued a hold rating on the utilities provider’s stock.

Separately, Bank of America restated a “neutral” rating and set a $31.00 target price (up previously from $30.00) on shares of MDU Resources Group in a research report on Monday, October 21st.

MDU Resources Group Trading Down 0.2 %

MDU Resources Group stock opened at $28.86 on Monday. The business’s 50-day simple moving average is $27.21 and its 200-day simple moving average is $25.85. MDU Resources Group has a 52 week low of $18.04 and a 52 week high of $30.52. The firm has a market capitalization of $5.88 billion, a PE ratio of 12.33, a PEG ratio of 2.71 and a beta of 0.77. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.15 and a current ratio of 1.22.

MDU Resources Group (NYSE:MDU) last released its earnings results on Thursday, August 8th. The utilities provider reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.11. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.06 billion. MDU Resources Group had a net margin of 9.25% and a return on equity of 11.29%. The firm’s revenue was down 4.0% on a year-over-year basis. During the same quarter last year, the company earned $0.29 earnings per share. Equities research analysts forecast that MDU Resources Group will post 1.57 earnings per share for the current year.

MDU Resources Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Thursday, September 12th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, September 12th. This is a boost from MDU Resources Group’s previous quarterly dividend of $0.13. This represents a $0.52 annualized dividend and a yield of 1.80%. MDU Resources Group’s payout ratio is 22.22%.

Institutional Trading of MDU Resources Group

A number of large investors have recently added to or reduced their stakes in the company. Beacon Harbor Wealth Advisors Inc. acquired a new stake in MDU Resources Group during the third quarter worth approximately $6,351,000. Catalyst Capital Advisors LLC grew its stake in shares of MDU Resources Group by 3.5% in the third quarter. Catalyst Capital Advisors LLC now owns 89,010 shares of the utilities provider’s stock valued at $2,440,000 after acquiring an additional 3,000 shares in the last quarter. State of Alaska Department of Revenue increased its position in MDU Resources Group by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 23,585 shares of the utilities provider’s stock worth $646,000 after acquiring an additional 1,605 shares during the period. Assenagon Asset Management S.A. acquired a new stake in MDU Resources Group in the 3rd quarter worth about $2,234,000. Finally, Riverwater Partners LLC acquired a new stake in shares of MDU Resources Group in the third quarter valued at approximately $1,348,000. Institutional investors and hedge funds 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.