MDU Resources Group (NYSE:MDU) Now Covered by StockNews.com

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

MDU Resources Group Stock Up 0.5 %

NYSE:MDU opened at $29.00 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.15 and a current ratio of 1.22. The firm has a market cap of $5.91 billion, a P/E ratio of 12.39, a P/E/G ratio of 2.66 and a beta of 0.77. MDU Resources Group has a fifty-two week low of $18.04 and a fifty-two week high of $29.53. The firm has a 50-day simple moving average of $26.11 and a two-hundred day simple moving average of $25.51.

MDU Resources Group (NYSE:MDU) last released its quarterly earnings data on Thursday, August 8th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.11. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.06 billion. MDU Resources Group had a return on equity of 11.29% and a net margin of 9.25%. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.29 EPS. Analysts predict that MDU Resources Group will post 1.58 earnings per share for the current fiscal year.

MDU Resources Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Thursday, September 12th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date was Thursday, September 12th. This is an increase from MDU Resources Group’s previous quarterly dividend of $0.13. MDU Resources Group’s dividend payout ratio (DPR) is presently 22.22%.

Hedge Funds Weigh In On MDU Resources Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC boosted its position in MDU Resources Group by 40.9% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,048,344 shares of the utilities provider’s stock worth $151,813,000 after purchasing an additional 1,756,530 shares during the last quarter. American Century Companies Inc. grew its position in MDU Resources Group by 30.7% during the second quarter. American Century Companies Inc. now owns 4,158,224 shares of the utilities provider’s stock valued at $104,371,000 after buying an additional 977,487 shares during the period. Hood River Capital Management LLC purchased a new stake in MDU Resources Group during the second quarter valued at approximately $24,372,000. Dimensional Fund Advisors LP raised its position in MDU Resources Group by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 7,491,990 shares of the utilities provider’s stock worth $188,049,000 after acquiring an additional 563,424 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of MDU Resources Group by 36.6% during the 2nd quarter. AQR Capital Management LLC now owns 1,745,980 shares of the utilities provider’s stock worth $43,824,000 after acquiring an additional 467,465 shares during the last quarter. 71.44% of the stock is currently owned by hedge funds and other institutional investors.

About MDU Resources Group

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.