MDU Resources Group (NYSE:MDU) Upgraded at Siebert Williams Shank

Siebert Williams Shank upgraded shares of MDU Resources Group (NYSE:MDU) from a hold rating to a buy rating in a report released on Monday morning, MarketBeat reports. The firm currently has $19.00 price target on the utilities provider’s stock.

Several other brokerages also recently issued reports on MDU. StockNews.com initiated coverage on MDU Resources Group in a report on Monday, October 28th. They set a “hold” rating for the company. Bank of America reaffirmed a “neutral” rating and set a $31.00 target price (up previously from $30.00) on shares of MDU Resources Group in a report on Monday, October 21st.

MDU Resources Group Stock Performance

MDU opened at $17.51 on Monday. The business’s 50-day simple moving average is $26.32 and its 200 day simple moving average is $25.59. MDU Resources Group has a 52-week low of $14.91 and a 52-week high of $30.52. 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 firm has a market capitalization of $3.57 billion, a PE ratio of 8.76, a PEG ratio of 1.45 and a beta of 0.76.

MDU Resources Group (NYSE:MDU) last issued its earnings results on Thursday, August 8th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.11. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.06 billion. MDU Resources Group had a net margin of 9.25% and a return on equity of 11.29%. MDU Resources Group’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.29 EPS. As a group, sell-side analysts expect that MDU Resources Group will post 1.57 earnings per share for the current fiscal year.

MDU Resources Group Dividend Announcement

The company also recently announced a dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 21st were issued a dividend of $12.875 per share. The ex-dividend date was Friday, November 1st. MDU Resources Group’s dividend payout ratio is currently 26.00%.

Hedge Funds Weigh In On MDU Resources Group

Institutional investors and hedge funds have recently modified their holdings of the business. State Board of Administration of Florida Retirement System boosted its holdings in MDU Resources Group by 29.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 280,244 shares of the utilities provider’s stock valued at $7,062,000 after purchasing an additional 63,403 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of MDU Resources Group in the third quarter valued at approximately $2,234,000. Russell Investments Group Ltd. grew its position in MDU Resources Group by 17.0% during the first quarter. Russell Investments Group Ltd. now owns 401,619 shares of the utilities provider’s stock worth $10,121,000 after buying an additional 58,220 shares in the last quarter. Meeder Asset Management Inc. increased its stake in MDU Resources Group by 58.2% during the 1st quarter. Meeder Asset Management Inc. now owns 54,111 shares of the utilities provider’s stock worth $1,364,000 after acquiring an additional 19,916 shares during the period. Finally, SG Americas Securities LLC acquired a new position in MDU Resources Group in the 2nd quarter valued at $2,198,000. 71.44% of the stock is currently owned by institutional investors and hedge funds.

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.