MDU Resources Group (NYSE:MDU) Receives Neutral Rating from Bank of America

Bank of America reiterated their neutral rating on shares of MDU Resources Group (NYSE:MDU) in a report released on Monday, Marketbeat.com reports. The brokerage currently has a $31.00 price target on the utilities provider’s stock, up from their prior price target of $30.00.

Separately, StockNews.com initiated coverage on MDU Resources Group in a research report on Sunday, October 20th. They issued a “hold” rating for the company.

MDU Resources Group Trading Down 0.3 %

Shares of MDU stock opened at $28.77 on Monday. The firm has a market capitalization of $5.87 billion, a P/E ratio of 12.29, a price-to-earnings-growth ratio of 2.66 and a beta of 0.77. MDU Resources Group has a 1 year low of $18.04 and a 1 year high of $30.52. The firm’s fifty day simple moving average is $26.77 and its 200 day simple moving average is $25.70. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 0.73.

MDU Resources Group (NYSE:MDU) last posted its quarterly earnings data on Thursday, August 8th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.11. MDU Resources Group had a net margin of 9.25% and a return on equity of 11.29%. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the firm posted $0.29 EPS. The business’s revenue was down 4.0% compared to the same quarter last year. As a group, sell-side analysts predict that MDU Resources Group will post 1.58 EPS for the current year.

MDU Resources Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Thursday, September 12th were paid a $0.13 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.52 dividend on an annualized basis and a yield of 1.81%. This is a boost from MDU Resources Group’s previous quarterly dividend of $0.13. MDU Resources Group’s payout ratio is presently 22.22%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MDU. Los Angeles Capital Management LLC acquired a new stake in MDU Resources Group in the 1st quarter valued at $208,000. Ballentine Partners LLC acquired a new stake in shares of MDU Resources Group in the 1st quarter valued at $207,000. Register Financial Advisors LLC grew its holdings in shares of MDU Resources Group by 6.9% in the 1st quarter. Register Financial Advisors LLC now owns 140,782 shares of the utilities provider’s stock worth $3,548,000 after purchasing an additional 9,030 shares during the last quarter. Grimes & Company Inc. acquired a new stake in shares of MDU Resources Group during the 1st quarter worth about $214,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in MDU Resources Group by 6.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,894,826 shares of the utilities provider’s stock valued at $47,750,000 after purchasing an additional 119,665 shares during the last quarter. Institutional investors own 71.44% of the company’s stock.

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.