MDU Resources Group (NYSE:MDU) Upgraded at Argus

Argus upgraded shares of MDU Resources Group (NYSE:MDU) from a hold rating to a buy rating in a report released on Monday, MarketBeat.com reports. They currently have $30.00 price target on the utilities provider’s stock.

Separately, StockNews.com cut MDU Resources Group from a buy rating to a hold rating in a research report on Wednesday, April 3rd.

MDU Resources Group Price Performance

MDU stock opened at $25.36 on Monday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.43 and a quick ratio of 1.37. The business has a 50 day simple moving average of $24.54 and a 200-day simple moving average of $21.49. The firm has a market capitalization of $5.17 billion, a PE ratio of 10.84, a price-to-earnings-growth ratio of 2.78 and a beta of 0.78. MDU Resources Group has a 1 year low of $18.04 and a 1 year high of $25.99.

MDU Resources Group (NYSE:MDU) last issued its earnings results on Thursday, May 2nd. The utilities provider reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.05. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.33 billion. MDU Resources Group had a net margin of 10.74% and a return on equity of 11.42%. The company’s revenue was down 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.23 earnings per share. Equities research analysts anticipate that MDU Resources Group will post 1.55 earnings per share for the current fiscal year.

MDU Resources Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Thursday, June 13th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.97%. The ex-dividend date is Thursday, June 13th. MDU Resources Group’s payout ratio is 21.37%.

Insider Activity

In other news, insider Rob L. Johnson bought 36,291 shares of MDU Resources Group stock in a transaction that occurred on Tuesday, May 7th. The shares were purchased at an average price of $25.46 per share, for a total transaction of $923,968.86. Following the completion of the acquisition, the insider now owns 41,934 shares of the company’s stock, valued at $1,067,639.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.59% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Norges Bank acquired a new position in shares of MDU Resources Group during the fourth quarter worth approximately $38,971,000. FMR LLC lifted its position in MDU Resources Group by 48.7% in the third quarter. FMR LLC now owns 3,585,707 shares of the utilities provider’s stock worth $70,208,000 after purchasing an additional 1,174,799 shares during the period. River Road Asset Management LLC lifted its position in MDU Resources Group by 49.6% in the fourth quarter. River Road Asset Management LLC now owns 2,931,590 shares of the utilities provider’s stock worth $58,045,000 after purchasing an additional 972,540 shares during the period. AQR Capital Management LLC lifted its position in MDU Resources Group by 194.3% in the third quarter. AQR Capital Management LLC now owns 1,397,095 shares of the utilities provider’s stock worth $27,355,000 after purchasing an additional 922,403 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in MDU Resources Group by 16.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,181,092 shares of the utilities provider’s stock worth $122,386,000 after purchasing an additional 858,100 shares during the period. Institutional investors and hedge funds own 71.44% of the company’s stock.

MDU Resources Group Company Profile

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.