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

StockNews.com assumed coverage on shares of MDU Resources Group (NYSE:MDU - Free Report) in a research report sent to investors on Tuesday. The brokerage issued a hold rating on the utilities provider's stock.

MDU has been the topic of a number of other reports. Siebert Williams Shank upgraded MDU Resources Group from a "hold" rating to a "buy" rating and set a $19.00 price target on the stock in a research report on Monday, November 4th. Bank of America upgraded shares of MDU Resources Group from a "neutral" rating to a "buy" rating and reduced their target price for the company from $31.00 to $17.00 in a research note on Tuesday, November 5th.

MDU Resources Group Stock Performance

MDU Resources Group stock traded down $0.11 on Tuesday, hitting $18.98. The company's stock had a trading volume of 1,361,795 shares, compared to its average volume of 1,618,277. The company has a fifty day moving average price of $23.04 and a 200-day moving average price of $24.64. The firm has a market cap of $3.87 billion, a P/E ratio of 9.73, a price-to-earnings-growth ratio of 2.52 and a beta of 0.79. MDU Resources Group has a one year low of $14.91 and a one year high of $30.52. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.73.

MDU Resources Group (NYSE:MDU - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.32 EPS for the quarter, topping analysts' consensus estimates 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 quarter last year, the company earned $0.29 earnings per share. The company's revenue for the quarter was up 5.0% compared to the same quarter last year. 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Thursday, December 12th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.52 dividend on an annualized basis and a yield of 2.74%. MDU Resources Group's dividend payout ratio (DPR) is presently 26.67%.

Hedge Funds Weigh In On MDU Resources Group

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of MDU Resources Group by 40.9% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,048,344 shares of the utilities provider's stock valued at $151,813,000 after buying an additional 1,756,530 shares during the last quarter. American Century Companies Inc. raised its stake in shares of MDU Resources Group by 30.7% in the second quarter. American Century Companies Inc. now owns 4,158,224 shares of the utilities provider's stock worth $104,371,000 after acquiring an additional 977,487 shares during the last quarter. Hood River Capital Management LLC bought a new position in shares of MDU Resources Group in the second quarter worth about $24,372,000. Dimensional Fund Advisors LP lifted its position in shares of MDU Resources Group by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 7,491,990 shares of the utilities provider's stock worth $188,049,000 after purchasing an additional 563,424 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of MDU Resources Group by 36.6% during the second quarter. AQR Capital Management LLC now owns 1,745,980 shares of the utilities provider's stock valued at $43,824,000 after purchasing an additional 467,465 shares during the last quarter. Institutional investors and hedge funds 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.