MDU Resources Group (NYSE:MDU) Upgraded at Bank of America

Bank of America upgraded shares of MDU Resources Group (NYSE:MDU) from a neutral rating to a buy rating in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The firm currently has $17.00 target price on the utilities provider’s stock, down from their previous target price of $31.00.

Several other equities analysts have also recently commented on MDU. Siebert Williams Shank raised shares of MDU Resources Group from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Monday. StockNews.com began coverage on shares of MDU Resources Group in a research note on Tuesday. They set a “hold” rating on the stock.

MDU Resources Group Stock Performance

Shares of MDU traded up $0.07 during mid-day trading on Tuesday, reaching $17.58. 465,529 shares of the company’s stock traded hands, compared to its average volume of 1,574,398. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.15 and a current ratio of 1.22. The business’s 50-day moving average price is $26.32 and its 200-day moving average price is $25.59. The stock has a market capitalization of $3.58 billion, a P/E ratio of 8.76, a price-to-earnings-growth ratio of 1.45 and a beta of 0.76. MDU Resources Group has a 12 month low of $14.91 and a 12 month high of $30.52.

MDU Resources Group (NYSE:MDU) last posted its earnings results on Thursday, November 7th. The utilities provider reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01. MDU Resources Group had a return on equity of 11.29% and a net margin of 9.25%. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $969.17 million. During the same period last year, the firm earned $0.29 EPS. The firm’s revenue was up 5.0% compared to the same quarter last year. Equities analysts predict that MDU Resources Group will post 1.57 earnings per share for the current year.

MDU Resources Group Dividend Announcement

The firm also recently declared a dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 21st were given a $12.875 dividend. The ex-dividend date of this dividend was Friday, November 1st. MDU Resources Group’s dividend payout ratio (DPR) is presently 26.00%.

Hedge Funds Weigh In On MDU Resources Group

Several hedge funds have recently made changes to their positions in the business. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in MDU Resources Group by 40.9% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,048,344 shares of the utilities provider’s stock valued at $151,813,000 after purchasing an additional 1,756,530 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of MDU Resources Group by 30.7% during the 2nd quarter. American Century Companies Inc. now owns 4,158,224 shares of the utilities provider’s stock worth $104,371,000 after acquiring an additional 977,487 shares in the last quarter. Hood River Capital Management LLC acquired a new position in shares of MDU Resources Group in the 2nd quarter worth $24,372,000. Dimensional Fund Advisors LP raised its position in shares of MDU Resources Group by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 7,491,990 shares of the utilities provider’s stock worth $188,049,000 after purchasing an additional 563,424 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of MDU Resources Group by 36.6% during the second quarter. AQR Capital Management LLC now owns 1,745,980 shares of the utilities provider’s stock valued at $43,824,000 after purchasing an additional 467,465 shares during the last quarter. Institutional investors and hedge funds own 71.44% of the company’s stock.

MDU Resources Group Company Profile

MDU Resources Group, Inc engages in the regulated energy delivery, and construction materials and services businesses in the United States. It operates through four segments: Electric, Natural Gas Distribution, Pipeline, and Construction Services. The Electric segment generates, transmits, and distributes electricity for residential, commercial, industrial, and municipal customers in Montana, North Dakota, South Dakota, and Wyoming; and operates 3,400 miles of transmission lines, 4,800 miles of distribution lines, and 82 transmission and 298 distribution substations.