MDU Resources Group (NYSE:MDU) Reaches New 52-Week High on Earnings Beat

MDU Resources Group, Inc. (NYSE:MDU) shares reached a new 52-week high on Thursday following a stronger than expected earnings report. The company traded as high as $20.49 and last traded at $20.4260, with a volume of 662543 shares. The stock had previously closed at $19.69.

The utilities provider reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.02. The firm had revenue of $315.10 million during the quarter, compared to analysts’ expectations of $263.93 million. MDU Resources Group had a return on equity of 8.29% and a net margin of 8.25%.MDU Resources Group’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.32 earnings per share. MDU Resources Group has set its FY 2025 guidance at 0.900-0.950 EPS.

MDU Resources Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Thursday, September 11th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.7%. This is a positive change from MDU Resources Group’s previous quarterly dividend of $0.13. The ex-dividend date was Thursday, September 11th. MDU Resources Group’s dividend payout ratio (DPR) is 52.83%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MDU. Zacks Research lowered shares of MDU Resources Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. TD Cowen assumed coverage on MDU Resources Group in a report on Thursday, October 16th. They issued a “hold” rating and a $20.00 price target on the stock. Cowen assumed coverage on MDU Resources Group in a research note on Wednesday, October 15th. They issued a “hold” rating for the company. Weiss Ratings upgraded MDU Resources Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Finally, Wall Street Zen lowered MDU Resources Group from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, MDU Resources Group presently has an average rating of “Hold” and a consensus target price of $21.00.

Insiders Place Their Bets

In other news, CFO Jason L. Vollmer bought 5,000 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The stock was purchased at an average price of $16.07 per share, with a total value of $80,350.00. Following the purchase, the chief financial officer owned 344,548 shares of the company’s stock, valued at $5,536,886.36. This trade represents a 1.47% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.94% of the company’s stock.

Institutional Trading of MDU Resources Group

A number of institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in MDU Resources Group by 241.9% in the 1st quarter. GAMMA Investing LLC now owns 1,843 shares of the utilities provider’s stock worth $31,000 after buying an additional 1,304 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of MDU Resources Group during the second quarter worth about $1,646,000. Cascade Investment Advisors Inc. lifted its stake in shares of MDU Resources Group by 19.0% in the second quarter. Cascade Investment Advisors Inc. now owns 99,381 shares of the utilities provider’s stock worth $1,657,000 after acquiring an additional 15,900 shares in the last quarter. Millennium Management LLC lifted its stake in shares of MDU Resources Group by 103.1% in the first quarter. Millennium Management LLC now owns 1,343,979 shares of the utilities provider’s stock worth $22,727,000 after acquiring an additional 682,098 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in MDU Resources Group by 230.6% in the second quarter. Farther Finance Advisors LLC now owns 7,660 shares of the utilities provider’s stock valued at $128,000 after purchasing an additional 5,343 shares during the last quarter. 71.44% of the stock is currently owned by institutional investors and hedge funds.

MDU Resources Group Trading Up 1.3%

The company has a current ratio of 0.74, a quick ratio of 0.71 and a debt-to-equity ratio of 0.75. The business has a 50 day simple moving average of $18.02 and a two-hundred day simple moving average of $17.25. The stock has a market cap of $4.27 billion, a price-to-earnings ratio of 19.72, a price-to-earnings-growth ratio of 3.12 and a beta of 0.73.

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.