MDU Resources Group (NYSE:MDU) Hits New 52-Week Low - Here's What Happened

MDU Resources Group, Inc. (NYSE:MDU - Get Free Report)'s stock price reached a new 52-week low during trading on Friday . The stock traded as low as $15.89 and last traded at $15.89, with a volume of 170628 shares traded. The stock had previously closed at $28.85.

Analyst Ratings Changes

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

MDU Resources Group Stock Down 47.7 %

The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $3.08 billion, a PE ratio of 7.55, a price-to-earnings-growth ratio of 2.71 and a beta of 0.77. The company's fifty day moving average price is $27.21 and its 200-day moving average price is $25.85.

MDU Resources Group (NYSE:MDU - Get Free Report) last released its earnings results on Thursday, August 8th. The utilities provider reported $0.32 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.11. The firm had revenue of $1.05 billion for the quarter, compared to analysts' expectations 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 quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.29 earnings per share. Analysts forecast that MDU Resources Group, Inc. will post 1.57 earnings per share for the current year.

MDU Resources Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Thursday, September 12th were issued a $0.13 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This is a boost from MDU Resources Group's previous quarterly dividend of $0.13. This represents a $0.52 annualized dividend and a yield of 3.44%. MDU Resources Group's payout ratio is 26.00%.

Institutional Investors Weigh In On MDU Resources Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. grew its position 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 valued at $54,000 after buying an additional 413 shares during the period. BOKF NA increased its stake in shares of MDU Resources Group by 4.1% in the 1st quarter. BOKF NA now owns 14,794 shares of the utilities provider's stock worth $377,000 after purchasing an additional 579 shares in the last quarter. SummerHaven Investment Management LLC raised its holdings in MDU Resources Group by 1.8% in the 2nd quarter. SummerHaven Investment Management LLC now owns 34,869 shares of the utilities provider's stock worth $875,000 after purchasing an additional 606 shares during the period. Retirement Systems of Alabama lifted its position in MDU Resources Group by 0.3% during the first quarter. Retirement Systems of Alabama now owns 255,718 shares of the utilities provider's stock valued at $6,444,000 after purchasing an additional 671 shares in the last quarter. Finally, Texas Permanent School Fund Corp grew its holdings in MDU Resources Group by 0.4% during the first quarter. Texas Permanent School Fund Corp now owns 176,622 shares of the utilities provider's stock valued at $4,451,000 after purchasing an additional 708 shares during the period. Hedge funds and other institutional investors 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.