MDU Resources Group (NYSE:MDU) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com began coverage on shares of MDU Resources Group (NYSE:MDU) in a report issued on Friday. The brokerage set a “hold” rating on the utilities provider’s stock.

Several other research analysts also recently commented on the stock. Bank of America raised shares of MDU Resources Group from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $31.00 to $17.00 in a report on Tuesday, November 5th. Siebert Williams Shank upgraded MDU Resources Group from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Monday, November 4th.

MDU Resources Group Stock Performance

Shares of MDU opened at $18.16 on Friday. MDU Resources Group has a 1 year low of $14.91 and a 1 year high of $30.52. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.15 and a quick ratio of 1.07. The stock’s fifty day moving average price is $19.36 and its two-hundred day moving average price is $23.82. The firm has a market cap of $3.70 billion, a PE ratio of 9.31, a PEG ratio of 2.44 and a beta of 0.81.

MDU Resources Group (NYSE:MDU) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $969.17 million. MDU Resources Group had a return on equity of 11.24% and a net margin of 8.92%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.29 EPS. On average, equities research analysts forecast that MDU Resources Group will post 1.13 EPS for the current year.

Institutional Investors Weigh In On MDU Resources Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. V Square Quantitative Management LLC purchased a new stake in shares of MDU Resources Group in the 3rd quarter valued at about $25,000. Venturi Wealth Management LLC lifted its position in MDU Resources Group by 158.9% during the third quarter. Venturi Wealth Management LLC now owns 1,196 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 734 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in MDU Resources Group in the 3rd quarter worth approximately $40,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of MDU Resources Group by 23.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,142 shares of the utilities provider’s stock worth $54,000 after buying an additional 413 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of MDU Resources Group by 238.1% during the 3rd quarter. Blue Trust Inc. now owns 2,935 shares of the utilities provider’s stock valued at $74,000 after buying an additional 2,067 shares in the last quarter. Hedge funds and other institutional investors 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.