MDU Resources Group Inc. (MDU) Raised to “Buy” at Zacks Investment Research
MDU Resources Group Inc. (NYSE:MDU) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm currently has a $28.00 price objective on the stock. Zacks Investment Research’s price objective indicates a potential upside of 12.68% from the stock’s previous close.
According to Zacks, “MDU Resources Group, Inc. provides value-added natural resource products and related services that are essential to energy and transportation infrastructure, including regulated businesses, an exploration and production company and construction companies. MDU Resources includes regulated electric and natural gas utilities and regulated natural gas pipelines and energy services, natural gas and oil production, construction materials and contracting, and construction services. “
Separately, Williams Capital reissued a “buy” rating on shares of MDU Resources Group in a report on Friday, August 12th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $22.70.
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Shares of MDU Resources Group (NYSE:MDU) traded up 0.89% during midday trading on Wednesday, hitting $24.85. 803,841 shares of the company were exchanged. MDU Resources Group has a 52-week low of $15.58 and a 52-week high of $25.79. The company has a 50-day moving average price of $24.40 and a 200-day moving average price of $22.75. The stock’s market capitalization is $4.85 billion.
MDU Resources Group (NYSE:MDU) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. MDU Resources Group had a negative net margin of 3.99% and a positive return on equity of 8.39%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the firm posted $0.15 EPS. MDU Resources Group’s quarterly revenue was up 11.3% on a year-over-year basis. On average, analysts forecast that MDU Resources Group will post $1.13 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Thursday, September 8th were paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend was Tuesday, September 6th. MDU Resources Group’s dividend payout ratio (DPR) is presently -85.23%.
In other news, Director Thomas S. Everist sold 30,000 shares of MDU Resources Group stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $23.44, for a total transaction of $703,200.00. Following the completion of the transaction, the director now owns 79,572 shares of the company’s stock, valued at approximately $1,865,167.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Teachers Advisors Inc. increased its position in shares of MDU Resources Group by 14.3% in the first quarter. Teachers Advisors Inc. now owns 178,360 shares of the company’s stock valued at $3,471,000 after buying an additional 22,347 shares during the last quarter. 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 last quarter. 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 last quarter. 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 last quarter. Finally, 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 last quarter. 63.17% of the stock is owned by hedge funds and other institutional investors.
About MDU Resources Group
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.
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