MDU Resources Group Inc. (MDU) Declares Dividend Increase – $0.19 Per Share
MDU Resources Group Inc. (NYSE:MDU) announced a quarterly dividend on Thursday, November 17th. Stockholders of record on Thursday, December 8th will be paid a dividend of 0.1925 per share on Sunday, January 1st. This represents a $0.77 dividend on an annualized basis and a dividend yield of 2.77%. This is a boost from MDU Resources Group’s previous quarterly dividend of $0.19.
Shares of MDU Resources Group (NYSE:MDU) opened at 27.83 on Friday. MDU Resources Group has a 52 week low of $15.58 and a 52 week high of $28.49. The company has a market cap of $5.44 billion, a PE ratio of 107.45 and a beta of 0.81. The stock’s 50 day moving average price is $25.72 and its 200-day moving average price is $23.91.
MDU Resources Group (NYSE:MDU) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.02. MDU Resources Group had a return on equity of 9.16% and a net margin of 1.21%. The company earned $1.21 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period last year, the company earned $0.38 earnings per share. The firm’s revenue was up .9% compared to the same quarter last year. Analysts expect that MDU Resources Group will post $1.13 EPS for the current year.
MDU has been the subject of several recent analyst reports. DA Davidson reaffirmed a “hold” rating on shares of MDU Resources Group in a research note on Monday, November 7th. Williams Capital reaffirmed a “buy” rating on shares of MDU Resources Group in a research note on Friday, August 12th. Finally, Zacks Investment Research cut MDU Resources Group from a “buy” rating to a “hold” rating in a research note on Tuesday, November 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $22.25.
In other news, Director Thomas S. Everist sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $23.68, for a total transaction of $710,400.00. Following the completion of the sale, the director now owns 79,572 shares in the company, valued at $1,884,264.96. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Barclays PLC increased 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 in the last quarter. Sei Investments Co. increased 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in MDU Resources Group by 13.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,134 shares of the company’s stock valued at $156,000 after buying an additional 730 shares in the last quarter. Pacad Investment Ltd. purchased a new stake in MDU Resources Group during the second quarter valued at approximately $149,000. Finally, Frontier Investment Mgmt Co. purchased a new stake in MDU Resources Group during the second quarter valued at approximately $204,000. Hedge funds and other institutional investors own 62.74% of the company’s stock.
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.
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