MDU Resources Group (NYSE:MDU) Shares Gap Down – Time to Sell?

MDU Resources Group, Inc. (NYSE:MDU)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $17.99, but opened at $17.23. MDU Resources Group shares last traded at $17.45, with a volume of 237,239 shares changing hands.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MDU. Bank of America raised shares of MDU Resources Group from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $31.00 to $17.00 in a research report on Tuesday, November 5th. Jefferies Financial Group assumed coverage on shares of MDU Resources Group in a report on Wednesday, January 8th. They issued a “hold” rating and a $18.00 price objective on the stock. StockNews.com began coverage on shares of MDU Resources Group in a report on Friday, January 3rd. They set a “hold” rating for the company. Finally, Siebert Williams Shank raised MDU Resources Group from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Monday, November 4th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $21.00.

MDU Resources Group Trading Down 6.4 %

The stock’s 50-day simple moving average is $18.39 and its two-hundred day simple moving average is $22.65. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.15 and a quick ratio of 1.07. The firm has a market capitalization of $3.43 billion, a P/E ratio of 8.65, a price-to-earnings-growth ratio of 2.67 and a beta of 0.80.

MDU Resources Group (NYSE:MDU) last posted its quarterly earnings results on Thursday, February 6th. The utilities provider reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. MDU Resources Group had a return on equity of 11.24% and a net margin of 8.92%. Equities research analysts expect that MDU Resources Group, Inc. will post 1.09 EPS for the current year.

MDU Resources Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Thursday, December 12th were issued a $0.13 dividend. The ex-dividend date of this dividend was Thursday, December 12th. This represents a $0.52 annualized dividend and a dividend yield of 3.09%. MDU Resources Group’s dividend payout ratio (DPR) is 26.67%.

Hedge Funds Weigh In On MDU Resources Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC purchased a new stake in shares of MDU Resources Group during the 2nd quarter worth approximately $666,000. Marshall Wace LLP raised its stake in MDU Resources Group by 114.6% during the second quarter. Marshall Wace LLP now owns 26,144 shares of the utilities provider’s stock valued at $656,000 after purchasing an additional 13,959 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in MDU Resources Group by 23.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,142 shares of the utilities provider’s stock valued at $54,000 after purchasing an additional 413 shares during the last quarter. Truist Financial Corp purchased a new position in shares of MDU Resources Group in the 2nd quarter worth $218,000. Finally, Cetera Investment Advisers grew its stake in shares of MDU Resources Group by 47.4% in the 2nd quarter. Cetera Investment Advisers now owns 50,114 shares of the utilities provider’s stock worth $1,258,000 after buying an additional 16,125 shares in the last quarter. 71.44% of the stock is owned by institutional investors.

About MDU Resources Group

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.