MDU Resources Group (NYSE:MDU) Receives New Coverage from Analysts at StockNews.com

StockNews.com started coverage on shares of MDU Resources Group (NYSE:MDU - Free Report) in a report published on Monday morning. The firm issued a hold rating on the utilities provider's stock.

Separately, Bank of America restated a "neutral" rating and issued a $31.00 price objective (up from $30.00) on shares of MDU Resources Group in a report on Monday, October 21st.

MDU Resources Group Trading Up 2.9 %

MDU Resources Group stock traded up $0.84 during trading hours on Monday, hitting $29.62. The company had a trading volume of 1,909,522 shares, compared to its average volume of 1,464,757. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.15 and a current ratio of 1.22. The firm has a market cap of $6.04 billion, a P/E ratio of 12.67, a P/E/G ratio of 2.71 and a beta of 0.77. The company has a 50-day moving average price of $26.85 and a two-hundred day moving average price of $25.74. MDU Resources Group has a 1 year low of $18.04 and a 1 year high of $30.52.

MDU Resources Group (NYSE:MDU - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.11. The firm had revenue of $1.05 billion during 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%. MDU Resources Group's quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.29 earnings per share. On average, sell-side analysts anticipate that MDU Resources Group will post 1.57 earnings per share for the current year.

MDU Resources Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Thursday, September 12th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.52 dividend on an annualized basis and a yield of 1.76%. This is a positive change from MDU Resources Group's previous quarterly dividend of $0.13. MDU Resources Group's dividend payout ratio is currently 22.22%.

Institutional Investors Weigh In On MDU Resources Group

A number of hedge funds have recently made changes to their positions in MDU. Allspring Global Investments Holdings LLC boosted its position in shares of MDU Resources Group by 6.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,894,826 shares of the utilities provider's stock worth $47,750,000 after purchasing an additional 119,665 shares in the last quarter. State of Michigan Retirement System grew its stake in shares of MDU Resources Group by 2.5% during the first quarter. State of Michigan Retirement System now owns 50,020 shares of the utilities provider's stock worth $1,261,000 after acquiring an additional 1,200 shares during the last quarter. IVC Wealth Advisors LLC purchased a new stake in shares of MDU Resources Group during the first quarter worth about $202,000. Retirement Systems of Alabama increased its holdings in shares of 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 acquiring an additional 671 shares in the last quarter. Finally, Private Advisor Group LLC raised its position in shares of MDU Resources Group by 17.7% in the 1st quarter. Private Advisor Group LLC now owns 62,422 shares of the utilities provider's stock valued at $1,573,000 after purchasing an additional 9,397 shares during the last quarter. 71.44% of the stock is currently owned by hedge funds and other institutional investors.

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.