MDU Resources Group, Inc. (MDU) Given Buy Rating at KeyCorp
KeyCorp reiterated their buy rating on shares of MDU Resources Group, Inc. (NYSE:MDU) in a report released on Friday. The brokerage currently has a $28.00 price objective on the utilities provider’s stock.
A number of other research firms have also recently weighed in on MDU. Zacks Investment Research cut shares of MDU Resources Group from a hold rating to a sell rating in a report on Saturday, May 13th. BidaskClub cut shares of MDU Resources Group from a hold rating to a sell rating in a report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $31.25.
MDU Resources Group (NYSE:MDU) traded up 0.55% during trading on Friday, reaching $27.19. The company had a trading volume of 425,856 shares. The stock has a market capitalization of $5.31 billion, a P/E ratio of 23.64 and a beta of 0.92. MDU Resources Group has a 12-month low of $23.06 and a 12-month high of $29.92. The stock has a 50 day moving average of $26.09 and a 200-day moving average of $26.62.
MDU Resources Group (NYSE:MDU) last posted its earnings results on Tuesday, August 1st. The utilities provider reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by $0.03. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.10 billion. MDU Resources Group had a net margin of 5.37% and a return on equity of 10.24%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.24 earnings per share. On average, analysts forecast that MDU Resources Group will post $1.21 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Thursday, September 14th will be paid a dividend of $0.1925 per share. The ex-dividend date of this dividend is Wednesday, September 13th. This represents a $0.77 dividend on an annualized basis and a dividend yield of 2.83%. MDU Resources Group’s dividend payout ratio is currently 66.96%.
In related news, CEO David L. Goodin bought 5,000 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was acquired at an average price of $25.57 per share, with a total value of $127,850.00. Following the completion of the purchase, the chief executive officer now directly owns 95,210 shares of the company’s stock, valued at $2,434,519.70. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.95% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. Bank of The West boosted its stake in MDU Resources Group by 0.3% in the second quarter. Bank of The West now owns 8,083 shares of the utilities provider’s stock worth $212,000 after buying an additional 24 shares in the last quarter. IFP Advisors Inc boosted its stake in MDU Resources Group by 0.7% in the second quarter. IFP Advisors Inc now owns 9,713 shares of the utilities provider’s stock worth $254,000 after buying an additional 66 shares in the last quarter. Capstone Asset Management Co. boosted its stake in MDU Resources Group by 0.4% in the second quarter. Capstone Asset Management Co. now owns 22,454 shares of the utilities provider’s stock worth $588,000 after buying an additional 90 shares in the last quarter. Utah Retirement Systems boosted its stake in MDU Resources Group by 0.3% in the second quarter. Utah Retirement Systems now owns 35,452 shares of the utilities provider’s stock worth $929,000 after buying an additional 100 shares in the last quarter. Finally, Advisor Group Inc. boosted its stake in MDU Resources Group by 0.7% in the second quarter. Advisor Group Inc. now owns 15,286 shares of the utilities provider’s stock worth $402,000 after buying an additional 100 shares in the last quarter. 63.59% of the stock is owned by institutional investors and hedge funds.
MDU Resources Group Company Profile
MDU Resources Group, Inc is engaged in regulated energy delivery and construction materials and services business. The Company’s businesses segments are electric, natural gas distribution, pipeline and midstream, construction materials and contracting, and construction services. The electric segment generates, transmits and distributes electricity.
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