Mdu Resources Group Inc (NYSE:MDU) Short Interest Update

Mdu Resources Group Inc (NYSE:MDU) was the target of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 2,340,000 shares, a decrease of 11.7% from the September 30th total of 2,650,000 shares. Approximately 1.2% of the shares of the company are sold short. Based on an average daily trading volume, of 955,300 shares, the short-interest ratio is presently 2.4 days.

Separately, Williams Capital upped their target price on shares of Mdu Resources Group from $31.00 to $32.00 and gave the company a “buy” rating in a report on Monday, September 16th.

Shares of NYSE:MDU traded up $0.02 on Friday, reaching $29.01. The company’s stock had a trading volume of 850,967 shares, compared to its average volume of 1,028,595. The stock’s 50-day moving average is $28.24 and its two-hundred day moving average is $26.75. Mdu Resources Group has a 52-week low of $22.73 and a 52-week high of $29.46. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.41 and a quick ratio of 1.14. The stock has a market capitalization of $5.81 billion, a P/E ratio of 21.02, a PEG ratio of 2.72 and a beta of 0.65.

Mdu Resources Group (NYSE:MDU) last announced its earnings results on Wednesday, October 30th. The utilities provider reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.08. Mdu Resources Group had a net margin of 6.17% and a return on equity of 11.90%. The business had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the prior year, the company earned $0.55 earnings per share. The business’s revenue was up 22.1% compared to the same quarter last year. Equities analysts forecast that Mdu Resources Group will post 1.5 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Thursday, December 12th will be paid a dividend of $0.2075 per share. This represents a $0.83 dividend on an annualized basis and a dividend yield of 2.86%. This is a positive change from Mdu Resources Group’s previous quarterly dividend of $0.20. Mdu Resources Group’s payout ratio is 58.70%.

Several institutional investors have recently modified their holdings of MDU. Amundi Pioneer Asset Management Inc. increased its stake in shares of Mdu Resources Group by 3.2% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 109,815 shares of the utilities provider’s stock worth $2,836,000 after acquiring an additional 3,373 shares during the period. Retirement Systems of Alabama increased its stake in shares of Mdu Resources Group by 0.9% during the second quarter. Retirement Systems of Alabama now owns 257,642 shares of the utilities provider’s stock worth $6,647,000 after acquiring an additional 2,378 shares during the period. Country Trust Bank acquired a new position in shares of Mdu Resources Group during the second quarter worth about $35,000. Ingalls & Snyder LLC increased its stake in shares of Mdu Resources Group by 15.7% during the second quarter. Ingalls & Snyder LLC now owns 31,645 shares of the utilities provider’s stock worth $816,000 after acquiring an additional 4,300 shares during the period. Finally, Patten Group Inc. increased its stake in shares of Mdu Resources Group by 1.0% during the second quarter. Patten Group Inc. now owns 45,898 shares of the utilities provider’s stock worth $1,184,000 after acquiring an additional 475 shares during the period. Institutional investors and hedge funds own 68.07% of the company’s stock.

Mdu Resources Group Company Profile

MDU Resources Group, Inc engages in regulated energy delivery, and construction materials and services businesses in the United States. It operates through five segments: Electric, Natural Gas Distribution, Pipeline and Midstream, Construction Materials and Contracting, and Construction Services. The Electric segment generates, transmits, and distributes electricity in Montana, North Dakota, South Dakota, and Wyoming.

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