MDU Resources Group Inc. (MDU) Raised to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of MDU Resources Group Inc. (NYSE:MDU) from a hold rating to a buy rating in a research note released on Wednesday morning. They currently have $28.00 target price 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 reaffirmed a buy rating on shares of MDU Resources Group in a research note 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’s stock. The company presently has an average rating of Buy and an average price target of $22.70.
MDU Resources Group (NYSE:MDU) opened at 24.87 on Wednesday. The company’s market cap is $4.86 billion. MDU Resources Group has a 52 week low of $15.58 and a 52 week high of $25.79. The firm has a 50-day moving average of $24.47 and a 200-day moving average of $22.81.
MDU Resources Group (NYSE:MDU) last issued its earnings results on Wednesday, August 3rd. The company reported $0.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.03. The firm earned $1.04 billion during the quarter, compared to the consensus estimate 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 business’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.15 earnings per share. Equities analysts forecast that MDU Resources Group will post $1.13 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Saturday, October 1st. Shareholders of record on Thursday, September 8th were given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend was Tuesday, September 6th. MDU Resources Group’s dividend payout ratio is presently -85.23%.
In other MDU Resources Group news, Director Thomas S. Everist sold 30,000 shares of the stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $23.44, for a total transaction of $703,200.00. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in MDU. Advisor Consultant Network Inc. purchased a new stake in MDU Resources Group during the third quarter worth $2,786,000. Hennessy Advisors Inc. increased its stake in MDU Resources Group by 9.6% in the third quarter. Hennessy Advisors Inc. now owns 666,907 shares of the company’s stock worth $16,966,000 after buying an additional 58,500 shares in the last quarter. MSI Financial Services Inc increased its stake in MDU Resources Group by 0.4% in the third quarter. MSI Financial Services Inc now owns 5,077 shares of the company’s stock worth $129,000 after buying an additional 18 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in MDU Resources Group by 14.6% in the third quarter. Nisa Investment Advisors LLC now owns 109,240 shares of the company’s stock worth $2,779,000 after buying an additional 13,900 shares in the last quarter. Finally, Creative Planning increased its stake in MDU Resources Group by 19.9% in the third quarter. Creative Planning now owns 8,054 shares of the company’s stock worth $205,000 after buying an additional 1,335 shares in the last quarter. 63.56% of the stock is owned by institutional investors and hedge funds.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.