MDU Resources Group (NYSE:MDU) Sees Strong Trading Volume - Here's What Happened

Shares of MDU Resources Group, Inc. (NYSE:MDU - Get Free Report) saw strong trading volume on Monday . 1,163,308 shares changed hands during mid-day trading, a decline of 22% from the previous session's volume of 1,499,341 shares.The stock last traded at $15.39 and had previously closed at $15.10.

Analyst Ratings Changes

A number of research firms recently weighed in on MDU. StockNews.com assumed coverage on MDU Resources Group in a research note on Monday, October 28th. They set a "hold" rating on the stock. Bank of America reissued a "neutral" rating and set a $31.00 price objective (up from $30.00) on shares of MDU Resources Group in a report on Monday, October 21st. Finally, Siebert Williams Shank upgraded MDU Resources Group from a "hold" rating to a "buy" rating and set a $19.00 price target for the company in a report on Monday.

MDU Resources Group Stock Up 2.2 %

The stock has a fifty day moving average of $27.00 and a 200 day moving average of $25.82. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.22 and a quick ratio of 1.15. The firm has a market capitalization of $3.15 billion, a P/E ratio of 7.64, a price-to-earnings-growth ratio of 2.71 and a beta of 0.76.

MDU Resources Group (NYSE:MDU - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.21 by $0.11. MDU Resources Group had a net margin of 9.25% and a return on equity of 11.29%. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the firm earned $0.29 EPS. The firm's quarterly revenue was down 4.0% on a year-over-year basis. On average, research analysts anticipate that MDU Resources Group, Inc. will post 1.57 EPS for the current fiscal year.

MDU Resources Group Announces Dividend

The firm also recently declared 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 institutional investors have recently added to or reduced their stakes in MDU. V Square Quantitative Management LLC bought a new position in MDU Resources Group in the 3rd quarter worth about $25,000. Atlas Capital Advisors LLC purchased a new stake in MDU Resources Group in the second quarter valued at approximately $27,000. Capital Performance Advisors LLP bought a new stake in MDU Resources Group during the third quarter valued at approximately $40,000. Northwestern Mutual Wealth Management Co. grew its stake in MDU Resources Group by 23.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,142 shares of the utilities provider's stock worth $54,000 after buying an additional 413 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of MDU Resources Group by 238.1% in the 3rd quarter. Blue Trust Inc. now owns 2,935 shares of the utilities provider's stock worth $74,000 after buying an additional 2,067 shares during the last quarter. 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.