Zacks Investment Research upgraded shares of MDU Resources Group Inc. (NYSE:MDU) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning. The brokerage currently has $28.00 price target on the stock.
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 investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $22.70.
MDU Resources Group (NYSE:MDU) opened at 24.715 on Wednesday. MDU Resources Group has a 12-month low of $15.58 and a 12-month high of $25.79. The stock’s 50 day moving average price is $24.40 and its 200 day moving average price is $22.75. The company’s market capitalization is $4.83 billion.
MDU Resources Group (NYSE:MDU) last released its earnings results on Wednesday, August 3rd. The company reported $0.24 earnings per share for the quarter, beating 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 earned $1.04 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter last year, the company earned $0.15 earnings per share. The firm’s revenue was up 11.3% on a year-over-year basis. On average, equities research analysts anticipate that MDU Resources Group will post $1.13 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Saturday, October 1st. Investors of record on Thursday, September 8th were given a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 3.02%. The ex-dividend date was Tuesday, September 6th. MDU Resources Group’s dividend payout ratio (DPR) is presently -85.23%.
In related news, Director Thomas S. Everist sold 30,000 shares of the stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $23.44, for a total value of $703,200.00. Following the completion of the transaction, the director now owns 79,572 shares of the company’s stock, valued at $1,865,167.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Barclays PLC raised its stake in MDU Resources Group by 30.0% in the second quarter. Barclays PLC now owns 4,736 shares of the company’s stock valued at $114,000 after buying an additional 1,094 shares during the last quarter. Sei Investments Co. raised its stake in MDU Resources Group by 1,849.4% in the second quarter. Sei Investments Co. now owns 6,004 shares of the company’s stock valued at $144,000 after buying an additional 5,696 shares during the last quarter. Pacad Investment Ltd. purchased a new stake in MDU Resources Group during the second quarter valued at $149,000. Walleye Trading LLC raised its stake in MDU Resources Group by 3,363.5% in the second quarter. Walleye Trading LLC now owns 6,527 shares of the company’s stock valued at $157,000 after buying an additional 6,727 shares during the last quarter. Finally, Van Hulzen Asset Management LLC purchased a new stake in MDU Resources Group during the second quarter valued at $160,000. 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.