Analysts Set Expectations for MDU Resources Group Inc.’s Q1 2017 Earnings (MDU)
MDU Resources Group Inc. (NYSE:MDU) – Research analysts at Williams Capital cut their Q1 2017 earnings estimates for MDU Resources Group in a note issued to investors on Tuesday. Williams Capital analyst C. Ellinghaus now expects that the firm will post earnings per share of $0.20 for the quarter, down from their previous estimate of $0.21. Williams Capital has a “Buy” rating on the stock. Williams Capital also issued estimates for MDU Resources Group’s Q2 2017 earnings at $0.29 EPS, Q3 2017 earnings at $0.51 EPS, Q4 2017 earnings at $0.35 EPS, FY2017 earnings at $1.35 EPS and FY2018 earnings at $1.47 EPS.
A number of other equities analysts also recently issued reports on the company. Zacks Investment Research downgraded MDU Resources Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 19th. Argus upgraded MDU Resources Group from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Tuesday, May 31st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $21.90.
Shares of MDU Resources Group (NYSE:MDU) traded up 1.10% during midday trading on Wednesday, reaching $25.63. The company had a trading volume of 491,831 shares. The company has a 50 day moving average price of $23.86 and a 200-day moving average price of $22.31. The firm’s market capitalization is $5.01 billion. MDU Resources Group has a one year low of $15.58 and a one year high of $25.79.
MDU Resources Group (NYSE:MDU) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.03. The business had revenue of $1.04 billion for 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 firm’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.15 earnings per share.
Several large investors have recently bought and sold shares of MDU. Vanguard Group Inc. boosted its stake in MDU Resources Group by 9.2% in the second quarter. Vanguard Group Inc. now owns 15,848,829 shares of the company’s stock worth $380,372,000 after buying an additional 1,339,894 shares during the period. State Street Corp boosted its stake in MDU Resources Group by 9.7% in the first quarter. State Street Corp now owns 15,317,653 shares of the company’s stock worth $298,091,000 after buying an additional 1,348,586 shares during the period. Parnassus Investments CA boosted its stake in MDU Resources Group by 2.6% in the second quarter. Parnassus Investments CA now owns 13,026,528 shares of the company’s stock worth $312,637,000 after buying an additional 333,191 shares during the period. BlackRock Fund Advisors boosted its stake in MDU Resources Group by 5.0% in the second quarter. BlackRock Fund Advisors now owns 6,712,166 shares of the company’s stock worth $161,092,000 after buying an additional 317,528 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in MDU Resources Group by 0.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 5,837,094 shares of the company’s stock worth $140,090,000 after buying an additional 40,240 shares during the period. 63.16% of the stock is currently owned by institutional investors.
In related news, Director Thomas S. Everist sold 30,000 shares of MDU Resources Group stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $23.61, for a total value of $708,300.00. Following the sale, the director now owns 79,572 shares of the company’s stock, valued at approximately $1,878,694.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by corporate insiders.
The business also recently declared a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Thursday, September 8th will be issued a $0.1875 dividend. The ex-dividend date is Tuesday, September 6th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.96%. MDU Resources Group’s dividend payout ratio (DPR) is presently -85.23%.
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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