MDU Resources Group Inc. (MDU) Upgraded to “Buy” by 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 issued on Wednesday. The brokerage presently has a $28.00 price target on the stock. Zacks Investment Research’s price target would suggest a potential upside of 12.68% from the company’s current price.
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 reiterated a “buy” rating on shares of MDU Resources Group in a research note on Friday, August 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $22.70.
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Shares of MDU Resources Group (NYSE:MDU) traded up 0.89% during trading on Wednesday, hitting $24.85. The stock had a trading volume of 803,841 shares. The firm has a 50-day moving average of $24.40 and a 200 day moving average of $22.75. The company’s market capitalization is $4.85 billion. MDU Resources Group has a 1-year low of $15.58 and a 1-year high of $25.79.
MDU Resources Group (NYSE:MDU) last posted its earnings results on Wednesday, August 3rd. The company reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the company posted $0.15 EPS. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. Equities research analysts predict that MDU Resources Group will post $1.13 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Thursday, September 8th were given 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 currently -85.23%.
In other news, Director Thomas S. Everist sold 30,000 shares of the firm’s stock in a transaction 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 sale, the director now owns 79,572 shares in the company, valued at approximately $1,878,694.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.10% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. Barclays PLC boosted its position in shares of MDU Resources Group by 30.0% in the second quarter. Barclays PLC now owns 4,736 shares of the company’s stock worth $114,000 after buying an additional 1,094 shares during the last quarter. Sei Investments Co. boosted its position in shares of MDU Resources Group by 1,849.4% in the second quarter. Sei Investments Co. now owns 6,004 shares of the company’s stock worth $144,000 after buying an additional 5,696 shares during the last quarter. Pacad Investment Ltd. acquired a new position in shares of MDU Resources Group during the second quarter worth approximately $149,000. Walleye Trading LLC boosted its position in shares of MDU Resources Group by 3,363.5% in the second quarter. Walleye Trading LLC now owns 6,527 shares of the company’s stock worth $157,000 after buying an additional 6,727 shares during the last quarter. Finally, Van Hulzen Asset Management LLC acquired a new position in shares of MDU Resources Group during the second quarter worth approximately $160,000. Institutional investors own 63.17% 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.
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