MDU Resources Group Inc. (MDU) Raised to “Buy” at 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 research note issued to investors on Wednesday. The brokerage presently has a $28.00 target price on the stock. Zacks Investment Research’s target price would suggest a potential upside of 12.68% from the stock’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 restated a “buy” rating on shares of MDU Resources Group in a research report on Friday, August 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $22.70.
Shares of MDU Resources Group (NYSE:MDU) traded up 0.89% during midday trading on Wednesday, reaching $24.85. 803,841 shares of the company were exchanged. MDU Resources Group has a 52 week low of $15.58 and a 52 week high of $25.79. The firm’s market capitalization is $4.85 billion. The firm has a 50-day moving average of $24.40 and a 200 day moving average of $22.75.
MDU Resources Group (NYSE:MDU) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.03. The company earned $1.04 billion during the quarter, compared to analysts’ expectations of $1.07 billion. MDU Resources Group had a negative net margin of 3.99% and a positive return on equity of 8.39%. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.15 earnings per share. On average, equities research analysts expect that MDU Resources Group will post $1.13 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Investors of record on Thursday, September 8th were issued a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date was Tuesday, September 6th. MDU Resources Group’s dividend payout ratio is currently -85.23%.
In related news, Director Thomas S. Everist sold 30,000 shares of the company’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $23.61, for a total value of $708,300.00. Following the completion of the sale, the director now owns 79,572 shares of the company’s stock, valued at $1,878,694.92. The sale 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.
Several large investors have recently made changes to their positions in the stock. Barclays PLC raised its stake 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 in the last quarter. Sei Investments Co. raised its stake 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 in the last quarter. Pacad Investment Ltd. purchased a new stake in shares of MDU Resources Group during the second quarter worth about $149,000. Walleye Trading LLC raised its stake 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 in the last quarter. Finally, Van Hulzen Asset Management LLC purchased a new stake in shares of MDU Resources Group during the second quarter worth about $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.
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