MDU Resources Group Inc. (NYSE:MDU) Given Average Rating of “Hold” by Brokerages
MDU Resources Group Inc. (NYSE:MDU) has earned a consensus recommendation of “Buy” from the seven brokerages that are covering the firm. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $21.38.
Several equities research analysts recently issued reports on MDU shares. Argus upgraded MDU Resources Group from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Tuesday, May 31st. Williams Capital reiterated a “buy” rating on shares of MDU Resources Group in a research note on Friday, August 12th. Finally, Zacks Investment Research cut MDU Resources Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 19th.
Shares of MDU Resources Group (NYSE:MDU) traded up 0.78% on Tuesday, reaching $24.43. The company’s stock had a trading volume of 306,380 shares. MDU Resources Group has a 52-week low of $15.58 and a 52-week high of $24.67. The firm has a 50 day moving average of $23.58 and a 200 day moving average of $22.02. The company’s market cap is $4.77 billion.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/20/mdu-resources-group-inc-nysemdu-given-average-rating-of-hold-by-brokerages.html
MDU Resources Group (NYSE:MDU) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.03. The business earned $1.04 billion during the quarter, compared to analysts’ expectations of $1.07 billion. MDU Resources Group had a positive return on equity of 8.39% and a negative net margin of 3.99%. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.15 earnings per share. Analysts predict that MDU Resources Group will post $1.12 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Thursday, September 8th will be given a dividend of $0.1875 per share. The ex-dividend date of this dividend is Tuesday, September 6th. This represents a $0.75 annualized dividend and a yield of 3.09%. MDU Resources Group’s dividend payout ratio is currently -85.23%.
In other MDU Resources Group news, Director Thomas S. Everist sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $23.61, for a total transaction of $708,300.00. Following the completion of the transaction, the director now directly owns 79,572 shares in the company, valued at $1,878,694.92. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.10% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of MDU Resources Group by 170.2% in the first quarter. JPMorgan Chase & Co. now owns 280,619 shares of the company’s stock valued at $5,462,000 after buying an additional 176,763 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in shares of MDU Resources Group by 2.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 5,796,854 shares of the company’s stock valued at $112,807,000 after buying an additional 134,466 shares during the period. BlackRock Fund Advisors increased its position in shares of MDU Resources Group by 0.3% in the first quarter. BlackRock Fund Advisors now owns 6,394,638 shares of the company’s stock valued at $124,440,000 after buying an additional 21,622 shares during the period. BlackRock Group LTD increased its position in shares of MDU Resources Group by 6.2% in the first quarter. BlackRock Group LTD now owns 610,292 shares of the company’s stock valued at $11,876,000 after buying an additional 35,516 shares during the period. Finally, Prudential Financial Inc. increased its position in shares of MDU Resources Group by 231.6% in the first quarter. Prudential Financial Inc. now owns 2,496,864 shares of the company’s stock valued at $48,589,000 after buying an additional 1,743,872 shares during the period. Institutional investors own 63.55% of the company’s stock.
MDU Resources Group Company Profile
MDU Resources Group, Inc is a diversified natural resource company. Montana-Dakota Utilities Co (Montana-Dakota) is a public utility division of the Company. Montana-Dakota, through the electric and natural gas distribution segments, generates, transmits and distributes electricity and distributes natural gas.
Receive News & Ratings for MDU Resources Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MDU Resources Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.