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

StockNews.com started coverage on shares of MDU Resources Group (NYSE:MDU) in a research report sent to investors on Monday morning. The brokerage issued a hold rating on the utilities provider’s stock.

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

MDU Resources Group Stock Performance

Shares of MDU stock opened at $28.86 on Monday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.22 and a quick ratio of 1.15. MDU Resources Group has a one year low of $18.04 and a one year high of $30.52. The business’s 50 day simple moving average is $27.21 and its 200 day simple moving average is $25.85. The stock 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.

MDU Resources Group (NYSE:MDU) last released its quarterly earnings data on Thursday, August 8th. The utilities provider reported $0.32 EPS for the quarter, beating the consensus estimate of $0.21 by $0.11. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.06 billion. MDU Resources Group had a return on equity of 11.29% and a net margin of 9.25%. The company’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.29 earnings per share. As a group, research analysts forecast that MDU Resources Group will post 1.57 earnings per share for the current 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 given a $0.13 dividend. This is a boost from MDU Resources Group’s previous quarterly dividend of $0.13. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend was Thursday, September 12th. MDU Resources Group’s payout ratio is currently 22.22%.

Institutional Trading of MDU Resources Group

Several institutional investors have recently bought and sold shares of MDU. Beacon Harbor Wealth Advisors Inc. purchased a new position in shares of MDU Resources Group in the third quarter worth $6,351,000. Catalyst Capital Advisors LLC increased its holdings in MDU Resources Group by 3.5% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 89,010 shares of the utilities provider’s stock worth $2,440,000 after buying an additional 3,000 shares in the last quarter. State of Alaska Department of Revenue raised its position in MDU Resources Group by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 23,585 shares of the utilities provider’s stock worth $646,000 after buying an additional 1,605 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in MDU Resources Group during the 3rd quarter valued at about $2,234,000. Finally, Riverwater Partners LLC bought a new position in MDU Resources Group during the 3rd quarter valued at about $1,348,000. 71.44% of the stock is owned by hedge funds and other institutional investors.

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.