MDU Resources Group (NYSE:MDU) Rating Increased to Buy at Bank of America

Bank of America upgraded shares of MDU Resources Group (NYSE:MDU - Free Report) from a neutral rating to a buy rating in a research report released on Tuesday morning, Marketbeat reports. Bank of America currently has $17.00 target price on the utilities provider's stock, down from their prior target price of $31.00.

Other equities research analysts also recently issued reports about the stock. 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 report on Monday. StockNews.com started coverage on MDU Resources Group in a report on Tuesday. They issued a "hold" rating for the company.

MDU Resources Group Stock Up 6.7 %

Shares of NYSE:MDU traded up $1.03 during midday trading on Tuesday, hitting $16.46. 6,867,374 shares of the company's stock were exchanged, compared to its average volume of 1,538,292. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.22 and a quick ratio of 1.15. MDU Resources Group has a 12 month low of $14.91 and a 12 month high of $30.52. The company has a market cap of $3.36 billion, a PE ratio of 8.10, a price-to-earnings-growth ratio of 1.42 and a beta of 0.76. The stock has a 50 day moving average price of $26.81 and a 200-day moving average price of $25.77.

MDU Resources Group (NYSE:MDU - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.21 by $0.11. The business 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.29 EPS. On average, sell-side analysts anticipate that MDU Resources Group will post 1.57 EPS for the current fiscal year.

MDU Resources Group Announces Dividend

The company also recently disclosed a dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 21st were given a $12.875 dividend. The ex-dividend date of this dividend was Friday, November 1st. MDU Resources Group's dividend payout ratio (DPR) is currently 26.00%.

Institutional Trading of MDU Resources Group

A number of hedge funds and other institutional investors have recently bought and sold shares of MDU. V Square Quantitative Management LLC purchased a new position in MDU Resources Group in the third quarter worth $25,000. Atlas Capital Advisors LLC bought a new stake in MDU Resources Group in the 2nd quarter worth approximately $27,000. Venturi Wealth Management LLC grew its position in MDU Resources Group by 158.9% during the third quarter. Venturi Wealth Management LLC now owns 1,196 shares of the utilities provider's stock valued at $33,000 after acquiring an additional 734 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of MDU Resources Group during the third quarter worth approximately $40,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of MDU Resources Group by 23.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,142 shares of the utilities provider's stock valued at $54,000 after purchasing an additional 413 shares during the last quarter. 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.