MDU Resources Group Inc. (MDU) Hits New 52-Week High at $24.83
Shares of MDU Resources Group Inc. (NYSE:MDU) hit a new 52-week high on Wednesday . The stock traded as high as $24.83 and last traded at $24.77, with a volume of 654,910 shares changing hands. The stock had previously closed at $24.54.
Several analysts have weighed in on MDU shares. Argus raised MDU Resources Group from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Tuesday, May 31st. Zacks Investment Research downgraded MDU Resources Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 19th. Finally, Williams Capital reaffirmed a “buy” rating on shares of MDU Resources Group in a research note on Friday, August 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. MDU Resources Group presently has a consensus rating of “Hold” and an average target price of $21.90.
The stock’s market cap is $4.90 billion. The company has a 50 day moving average price of $23.65 and a 200-day moving average price of $22.09.
MDU Resources Group (NYSE:MDU) last released its earnings results on Wednesday, August 3rd. The company reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.03. The firm earned $1.04 billion during the quarter, compared to analysts’ expectations of $1.07 billion. MDU Resources Group had a positive return on equity of 8.39% and a negative net margin of 3.99%. The company’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 EPS. On average, analysts forecast that MDU Resources Group Inc. will post $1.12 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Thursday, September 8th will be issued a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Tuesday, September 6th. MDU Resources Group’s dividend payout ratio (DPR) is presently -85.23%.
In other MDU Resources Group news, Director Thomas S. Everist sold 30,000 shares of the stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $23.71, for a total transaction of $711,300.00. Following the completion of the transaction, the director now owns 79,572 shares in the company, valued at approximately $1,886,652.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.10% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Barclays PLC boosted its position in MDU Resources Group by 30.0% in the second quarter. Barclays PLC now owns 4,736 shares of the company’s stock worth $114,000 after buying an additional 1,094 shares during the period. Sei Investments Co. boosted its position in MDU Resources Group by 1,849.4% in the second quarter. Sei Investments Co. now owns 6,004 shares of the company’s stock worth $144,000 after buying an additional 5,696 shares during the period. Pacad Investment Ltd. purchased a new position in MDU Resources Group during the second quarter worth about $149,000. Walleye Trading LLC boosted its position in MDU Resources Group by 3,363.5% in the second quarter. Walleye Trading LLC now owns 6,527 shares of the company’s stock worth $157,000 after buying an additional 6,727 shares during the period. Finally, Van Hulzen Asset Management LLC purchased a new position in MDU Resources Group during the second quarter worth about $160,000. Hedge funds and other institutional investors own 63.16% of the company’s stock.
MDU Resources Group Company Profile
MDU Resources Group, Inc is a diversified natural resource company. Montana-Dakota Utilities Co (Montana-Dakota) is a public utility division of the Company. Montana-Dakota, through the electric and natural gas distribution segments, generates, transmits and distributes electricity and distributes natural gas.
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