Q3 2017 Earnings Estimate for MDU Resources Group, Inc. Issued By KeyCorp (MDU)
MDU Resources Group, Inc. (NYSE:MDU) – Analysts at KeyCorp reduced their Q3 2017 earnings per share estimates for shares of MDU Resources Group in a research report issued to clients and investors on Wednesday. KeyCorp analyst P. Ridzon now expects that the utilities provider will earn $0.46 per share for the quarter, down from their prior estimate of $0.47. KeyCorp currently has a “Buy” rating and a $28.00 price objective on the stock.
MDU Resources Group (NYSE:MDU) last issued its quarterly earnings results on Tuesday, August 1st. The utilities provider reported $0.22 EPS for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.03). MDU Resources Group had a return on equity of 10.24% and a net margin of 5.37%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the firm posted $0.24 EPS. The business’s revenue was up 2.3% compared to the same quarter last year.
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Several other research firms also recently issued reports on MDU. Zacks Investment Research downgraded shares of MDU Resources Group from a “hold” rating to a “strong sell” rating in a research note on Friday, July 28th. BidaskClub downgraded shares of MDU Resources Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. MDU Resources Group has an average rating of “Hold” and an average price target of $30.75.
Shares of MDU Resources Group (NYSE:MDU) opened at 27.03 on Friday. The firm has a market cap of $5.28 billion, a PE ratio of 23.50 and a beta of 0.91. MDU Resources Group has a 12 month low of $24.71 and a 12 month high of $29.92. The firm’s 50-day moving average price is $26.78 and its 200-day moving average price is $26.59.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MDU. Russell Investments Group Ltd. boosted its stake in MDU Resources Group by 39.9% in the first quarter. Russell Investments Group Ltd. now owns 48,631 shares of the utilities provider’s stock valued at $1,331,000 after acquiring an additional 13,868 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of MDU Resources Group by 5.6% during the first quarter. UBS Asset Management Americas Inc. now owns 160,467 shares of the utilities provider’s stock worth $4,392,000 after buying an additional 8,439 shares during the period. Sei Investments Co. boosted its stake in shares of MDU Resources Group by 15.8% during the first quarter. Sei Investments Co. now owns 8,013 shares of the utilities provider’s stock worth $219,000 after buying an additional 1,091 shares during the period. OppenheimerFunds Inc. boosted its stake in shares of MDU Resources Group by 4.5% during the first quarter. OppenheimerFunds Inc. now owns 226,922 shares of the utilities provider’s stock worth $6,211,000 after buying an additional 9,743 shares during the period. Finally, FMR LLC boosted its stake in shares of MDU Resources Group by 7.1% during the first quarter. FMR LLC now owns 209,505 shares of the utilities provider’s stock worth $5,734,000 after buying an additional 13,800 shares during the period. Institutional investors own 63.59% of the company’s stock.
In related news, CEO David L. Goodin acquired 5,000 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was bought at an average price of $25.57 per share, for a total transaction 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 approximately $2,434,519.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.95% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Sunday, October 1st. Shareholders of record on Thursday, September 14th were paid a $0.1925 dividend. The ex-dividend date was Wednesday, September 13th. This represents a $0.77 annualized dividend and a yield of 2.85%. MDU Resources Group’s dividend payout ratio is presently 66.96%.
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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