MDU Resources Group (NYSE:MDU) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of MDU Resources Group (NYSE:MDU) in a research note released on Sunday morning. The firm issued a hold rating on the utilities provider’s stock.

MDU Resources Group Trading Up 4.0 %

Shares of MDU stock opened at $30.28 on Friday. MDU Resources Group has a fifty-two week low of $18.04 and a fifty-two week high of $30.52. The company has a 50 day moving average price of $26.39 and a 200 day moving average price of $25.60. The stock has a market capitalization of $6.17 billion, a P/E ratio of 12.94, a price-to-earnings-growth ratio of 2.66 and a beta of 0.77. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.15 and a current ratio of 1.22.

MDU Resources Group (NYSE:MDU) last posted its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.32 EPS for the quarter, topping the consensus estimate of $0.21 by $0.11. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.06 billion. MDU Resources Group had a net margin of 9.25% and a return on equity of 11.29%. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.29 earnings per share. Equities research analysts predict that MDU Resources Group will post 1.58 EPS for the current fiscal year.

MDU Resources Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Thursday, September 12th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, September 12th. This is an increase from MDU Resources Group’s previous quarterly dividend of $0.13. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.72%. MDU Resources Group’s payout ratio is currently 22.22%.

Institutional Trading of MDU Resources Group

Several hedge funds have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC purchased a new stake in shares of MDU Resources Group in the 1st quarter valued at approximately $208,000. Ballentine Partners LLC acquired a new stake in MDU Resources Group in the first quarter valued at $207,000. Register Financial Advisors LLC lifted its holdings in MDU Resources Group by 6.9% during the 1st quarter. Register Financial Advisors LLC now owns 140,782 shares of the utilities provider’s stock worth $3,548,000 after buying an additional 9,030 shares during the last quarter. Grimes & Company Inc. acquired a new position in shares of MDU Resources Group during the 1st quarter worth about $214,000. Finally, Allspring Global Investments Holdings LLC increased its holdings 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 valued at $47,750,000 after acquiring an additional 119,665 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.