MDU Resources Group, Inc. to Issue Quarterly Dividend of $0.19 (MDU)
MDU Resources Group, Inc. (NYSE:MDU) declared a quarterly dividend on Thursday, August 17th, RTT News reports. Investors of record on Thursday, September 14th will be paid a dividend of 0.1925 per share by the utilities provider on Sunday, October 1st. This represents a $0.77 annualized dividend and a yield of 2.92%.
MDU Resources Group has increased its dividend by an average of 13.2% annually over the last three years and has increased its dividend annually for the last 7 consecutive years. MDU Resources Group has a payout ratio of 62.1% meaning its dividend is sufficiently covered by earnings. Analysts expect MDU Resources Group to earn $1.39 per share next year, which means the company should continue to be able to cover its $0.77 annual dividend with an expected future payout ratio of 55.4%.
Shares of MDU Resources Group (NYSE MDU) traded down 1.309% on Thursday, reaching $26.015. 160,081 shares of the company traded hands. The firm has a 50-day moving average of $25.94 and a 200-day moving average of $26.67. The company has a market capitalization of $5.08 billion, a PE ratio of 22.622 and a beta of 0.91. MDU Resources Group has a 52-week low of $23.06 and a 52-week high of $29.92.
MDU Resources Group (NYSE:MDU) last posted its quarterly earnings results on Tuesday, August 1st. The utilities provider reported $0.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.25 by $0.03. MDU Resources Group had a return on equity of 10.24% and a net margin of 5.37%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same period last year, the business earned $0.24 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities research analysts forecast that MDU Resources Group will post $1.21 earnings per share for the current fiscal year.
A number of equities research analysts have recently weighed in on the company. BidaskClub raised MDU Resources Group from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Zacks Investment Research downgraded MDU Resources Group from a “hold” rating to a “strong sell” rating in a research note on Friday, July 28th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $32.33.
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In other news, CEO David L. Goodin purchased 5,000 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was bought at an average cost of $25.57 per share, with a total value of $127,850.00. Following the purchase, the chief executive officer now directly owns 95,210 shares of the company’s stock, valued at $2,434,519.70. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.95% of the stock is owned by company insiders.
MDU Resources Group Company Profile
MDU Resources Group, Inc is engaged in regulated energy delivery and construction materials and services business. The Company’s businesses segments are electric, natural gas distribution, pipeline and midstream, construction materials and contracting, and construction services. The electric segment generates, transmits and distributes electricity.
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