StockNews.com Initiates 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 Friday. The brokerage issued a hold rating on the utilities provider’s stock.

Several other equities analysts have also commented on MDU. Bank of America upgraded MDU Resources Group from a “neutral” rating to a “buy” rating and dropped their target price for the company from $31.00 to $17.00 in a research note on Tuesday, November 5th. Siebert Williams Shank raised shares of MDU Resources Group from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Monday, November 4th.

MDU Resources Group Stock Performance

Shares of NYSE MDU opened at $18.16 on Friday. The company has a 50-day simple moving average of $19.36 and a 200-day simple moving average of $23.81. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.15 and a quick ratio of 1.07. The company has a market cap of $3.70 billion, a PE ratio of 9.31, a price-to-earnings-growth ratio of 2.44 and a beta of 0.81. MDU Resources Group has a 12 month low of $14.91 and a 12 month high of $30.52.

MDU Resources Group (NYSE:MDU) last released its earnings results on Thursday, November 7th. The utilities provider reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. MDU Resources Group had a net margin of 8.92% and a return on equity of 11.24%. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $969.17 million. During the same period in the previous year, the company earned $0.29 EPS. MDU Resources Group’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, equities analysts anticipate that MDU Resources Group will post 1.13 earnings per share for the current year.

MDU Resources Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Thursday, December 12th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend was Thursday, December 12th. MDU Resources Group’s dividend payout ratio (DPR) is currently 26.67%.

Institutional Investors Weigh In On MDU Resources Group

A number of institutional investors have recently added to or reduced their stakes in MDU. V Square Quantitative Management LLC purchased a new position in shares of MDU Resources Group in the 3rd quarter worth about $25,000. Venturi Wealth Management LLC raised its holdings in MDU Resources Group by 158.9% in the third quarter. Venturi Wealth Management LLC now owns 1,196 shares of the utilities provider’s stock valued at $33,000 after buying an additional 734 shares during the period. Capital Performance Advisors LLP acquired a new position in MDU Resources Group during the third quarter valued at approximately $40,000. Northwestern Mutual Wealth Management Co. grew its stake in 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 buying an additional 413 shares during the period. Finally, Blue Trust Inc. grew its stake in MDU Resources Group by 238.1% during the third quarter. Blue Trust Inc. now owns 2,935 shares of the utilities provider’s stock worth $74,000 after buying an additional 2,067 shares during the period. Hedge funds and other institutional investors own 71.44% of the company’s stock.

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.