MDU Resources Group (NYSE:MDU) Reaches New 52-Week Low – Here’s What Happened

Shares of MDU Resources Group, Inc. (NYSE:MDU) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $15.89 and last traded at $15.89, with a volume of 170628 shares trading hands. The stock had previously closed at $28.85.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. StockNews.com assumed coverage on shares of MDU Resources Group in a report on Monday. They set a “hold” rating on the stock. Bank of America reiterated a “neutral” rating and issued a $31.00 price target (up previously from $30.00) on shares of MDU Resources Group in a research report on Monday, October 21st.

MDU Resources Group Stock Performance

The stock has a market capitalization of $3.14 billion, a P/E ratio of 7.93, a price-to-earnings-growth ratio of 2.71 and a beta of 0.77. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 0.73. The company has a 50-day moving average price of $27.21 and a two-hundred day moving average price of $25.85.

MDU Resources Group (NYSE:MDU) last issued its quarterly earnings results 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 firm had revenue of $1.05 billion for the quarter, compared to analyst estimates 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 revenue was down 4.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.29 earnings per share. On average, equities analysts forecast that MDU Resources Group, Inc. 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. Shareholders of record on Thursday, September 12th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 3.37%. This is a boost from MDU Resources Group’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Thursday, September 12th. MDU Resources Group’s dividend payout ratio (DPR) is presently 26.00%.

Hedge Funds Weigh In On MDU Resources Group

Several institutional investors have recently made changes to their positions in MDU. V Square Quantitative Management LLC acquired a new stake in shares of MDU Resources Group in the 3rd quarter valued at about $25,000. Atlas Capital Advisors LLC acquired a new stake in MDU Resources Group in the second quarter valued at approximately $27,000. Capital Performance Advisors LLP bought a new stake in shares of MDU Resources Group during the third quarter valued at approximately $40,000. Northwestern Mutual Wealth Management Co. raised its position in shares of MDU Resources Group by 23.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,142 shares of the utilities provider’s stock worth $54,000 after purchasing an additional 413 shares during the period. Finally, Blue Trust Inc. lifted its holdings in shares of MDU Resources Group by 238.1% in the 3rd quarter. Blue Trust Inc. now owns 2,935 shares of the utilities provider’s stock worth $74,000 after purchasing an additional 2,067 shares in the last quarter. 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.