MDU Resources Group, Inc. (NYSE:MDU) Increases Dividend to $0.14 Per Share

MDU Resources Group, Inc. (NYSE:MDU) announced a quarterly dividend on Thursday, August 13th. Stockholders of record on Thursday, September 10th will be paid a dividend of 0.145 per share by the utilities provider on Thursday, October 1st. This represents a c) dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Thursday, September 10th. This is a 3.6% increase from MDU Resources Group’s previous quarterly dividend of $0.14.

MDU Resources Group has decreased its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 1 years. MDU Resources Group has a dividend payout ratio of 53.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect MDU Resources Group to earn $1.06 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 52.8%.

MDU Resources Group Price Performance

Shares of NYSE MDU opened at $20.30 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $4.16 billion, a price-to-earnings ratio of 21.37, a price-to-earnings-growth ratio of 3.79 and a beta of 0.67. MDU Resources Group has a twelve month low of $15.76 and a twelve month high of $22.98. The business has a 50 day simple moving average of $20.89 and a 200-day simple moving average of $21.10.

Analysts Set New Price Targets

A number of equities analysts have commented on MDU shares. Wells Fargo & Company began coverage on shares of MDU Resources Group in a report on Monday, July 13th. They issued an “overweight” rating and a $25.00 price objective for the company. JPMorgan Chase & Co. upgraded shares of MDU Resources Group from a “neutral” rating to an “overweight” rating and set a $27.00 price target on the stock in a research report on Thursday, August 6th. TD Cowen lifted their price target on shares of MDU Resources Group to $22.00 and gave the company a “hold” rating in a report on Friday, May 15th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of MDU Resources Group in a research report on Wednesday, July 8th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, MDU Resources Group presently has a consensus rating of “Hold” and a consensus target price of $23.40.

MDU Resources Group Company Profile

MDU Resources Group, Inc is a diversified energy and services holding company headquartered in Bismarck, North Dakota. The company operates through two primary segments: Utilities and Construction Services and Pipelines & Midstream. Serving a broad geographic footprint across the upper Midwest and Pacific Northwest, MDU provides essential energy distribution and infrastructure services to residential, commercial and industrial customers.

The Utilities segment delivers electric and natural gas distribution services in Montana, North Dakota, South Dakota, Minnesota, Kansas, Wisconsin, Michigan and Washington.