MDU Resources Group Inc. (MDU) Shares Gap Up to $23.76
Shares of MDU Resources Group Inc. (NYSE:MDU) gapped up prior to trading on Monday . The stock had previously closed at $23.67, but opened at $23.76. MDU Resources Group shares last traded at $24.24, with a volume of 550,849 shares traded.
MDU has been the topic of a number of analyst reports. Zacks Investment Research cut MDU Resources Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 19th. Williams Capital reissued a “buy” rating on shares of MDU Resources Group in a research report on Friday, August 12th. Finally, Argus raised MDU Resources Group from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research report on Tuesday, May 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $21.90.
The firm’s market cap is $4.73 billion. The stock’s 50-day moving average is $23.58 and its 200-day moving average is $22.02.
MDU Resources Group (NYSE:MDU) last issued its earnings results on Wednesday, August 3rd. The company reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.03. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.07 billion. MDU Resources Group had a negative net margin of 3.99% and a positive return on equity of 8.39%. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period last year, the company posted $0.15 earnings per share. Equities analysts anticipate that MDU Resources Group Inc. will post $1.12 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Thursday, September 8th will be given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.09%. 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 news, Director Thomas S. Everist sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $23.14, for a total transaction of $694,200.00. Following the transaction, the director now directly owns 79,572 shares of the company’s stock, valued at $1,841,296.08. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Barclays PLC raised its position in shares of 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. raised its position in shares of MDU Resources Group by 1,849.4% in the second quarter. Sei Investments Co. now owns 6,004 shares of the company’s stock valued at $144,000 after buying an additional 5,696 shares during the last quarter. Pacad Investment Ltd. acquired a new position in shares of MDU Resources Group during the second quarter valued at about $149,000. Walleye Trading LLC raised its position in shares of MDU Resources Group by 3,363.5% in the second quarter. Walleye Trading LLC now owns 6,527 shares of the company’s stock valued at $157,000 after buying an additional 6,727 shares during the last quarter. Finally, Van Hulzen Asset Management LLC acquired a new position in shares of MDU Resources Group during the second quarter valued at about $160,000. 63.55% of the stock is currently owned by institutional investors and hedge funds.
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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