MDU Resources Group Inc. (NYSE:MDU) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The firm currently has a $28.00 price target on the stock. Zacks Investment Research’s price target points to a potential upside of 12.04% from the stock’s current price.
According to Zacks, “MDU Resources Group, Inc. provides value-added natural resource products and related services that are essential to energy and transportation infrastructure, including regulated businesses, an exploration and production company and construction companies. MDU Resources includes regulated electric and natural gas utilities and regulated natural gas pipelines and energy services, natural gas and oil production, construction materials and contracting, and construction services. “
Separately, Williams Capital reaffirmed a “buy” rating on shares of MDU Resources Group in a report on Friday, August 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. MDU Resources Group currently has an average rating of “Buy” and an average price target of $22.70.
MDU Resources Group (NYSE:MDU) opened at 24.99 on Wednesday. MDU Resources Group has a one year low of $15.58 and a one year high of $25.79. The stock’s 50 day moving average is $24.44 and its 200 day moving average is $22.76. The firm’s market cap is $4.88 billion.
MDU Resources Group (NYSE:MDU) last released its earnings results on Wednesday, August 3rd. The company reported $0.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.03. MDU Resources Group had a negative net margin of 3.99% and a positive return on equity of 8.39%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the firm earned $0.15 EPS. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. On average, analysts predict that MDU Resources Group will post $1.13 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Saturday, October 1st. Shareholders of record on Thursday, September 8th were issued a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend was Tuesday, September 6th. MDU Resources Group’s dividend payout ratio (DPR) is presently -85.23%.
In other MDU Resources Group news, Director Thomas S. Everist sold 30,000 shares of the firm’s stock in a transaction on Friday, August 12th. The shares were sold at an average price of $23.61, for a total value of $708,300.00. Following the sale, the director now owns 79,572 shares of the company’s stock, valued at approximately $1,878,694.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.10% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in MDU. Hennessy Advisors Inc. raised its stake in shares of MDU Resources Group by 9.6% in the third quarter. Hennessy Advisors Inc. now owns 666,907 shares of the company’s stock worth $16,966,000 after buying an additional 58,500 shares during the period. MSI Financial Services Inc raised its stake in shares of MDU Resources Group by 0.4% in the third quarter. MSI Financial Services Inc now owns 5,077 shares of the company’s stock worth $129,000 after buying an additional 18 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of MDU Resources Group by 14.6% in the third quarter. Nisa Investment Advisors LLC now owns 109,240 shares of the company’s stock worth $2,779,000 after buying an additional 13,900 shares during the period. Creative Planning raised its stake in shares of MDU Resources Group by 19.9% in the third quarter. Creative Planning now owns 8,054 shares of the company’s stock worth $205,000 after buying an additional 1,335 shares during the period. Finally, Bremer Trust National Association raised its stake in shares of MDU Resources Group by 8.9% in the third quarter. Bremer Trust National Association now owns 15,495 shares of the company’s stock worth $394,000 after buying an additional 1,270 shares during the period. 63.17% of the stock is currently owned by institutional investors and hedge funds.
MDU Resources Group Company Profile
MDU Resources Group, Inc is a diversified natural resource company. Montana-Dakota Utilities Co (Montana-Dakota) is a public utility division of the Company. Montana-Dakota, through the electric and natural gas distribution segments, generates, transmits and distributes electricity and distributes natural gas.
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