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

Research analysts at StockNews.com started coverage on shares of MDU Resources Group (NYSE:MDU) in a report released on Monday. The firm set a “hold” rating on the utilities provider’s stock.

Separately, Bank of America reiterated a “neutral” rating and issued a $31.00 price target (up previously from $30.00) on shares of MDU Resources Group in a report on Monday, October 21st.

MDU Resources Group Trading Down 1.5 %

Shares of NYSE:MDU opened at $29.18 on Monday. The business’s 50 day simple moving average is $27.04 and its 200 day simple moving average is $25.81. The company has a market capitalization of $5.95 billion, a P/E ratio of 12.47, a P/E/G ratio of 2.71 and a beta of 0.77. 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 1 year low of $18.04 and a 1 year high of $30.52.

MDU Resources Group (NYSE:MDU) last posted 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. MDU Resources Group had a net margin of 9.25% and a return on equity of 11.29%. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the prior year, the business earned $0.29 earnings per share. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. On average, research analysts anticipate that MDU Resources Group will post 1.57 EPS for the current fiscal year.

Institutional Investors Weigh In On MDU Resources Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MDU. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of MDU Resources Group by 40.9% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,048,344 shares of the utilities provider’s stock valued at $151,813,000 after purchasing an additional 1,756,530 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of MDU Resources Group by 30.7% in the second quarter. American Century Companies Inc. now owns 4,158,224 shares of the utilities provider’s stock worth $104,371,000 after purchasing an additional 977,487 shares during the last quarter. Hood River Capital Management LLC purchased a new position in MDU Resources Group in the 2nd quarter worth about $24,372,000. Dimensional Fund Advisors LP lifted its holdings in MDU Resources Group by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,491,990 shares of the utilities provider’s stock valued at $188,049,000 after buying an additional 563,424 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of MDU Resources Group by 36.6% during the second quarter. AQR Capital Management LLC now owns 1,745,980 shares of the utilities provider’s stock valued at $43,824,000 after acquiring an additional 467,465 shares in the last quarter. 71.44% of the stock is 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.