MDU Resources Group (NYSE:MDU) Lowered to “Neutral” at Bank of America

Bank of America downgraded shares of MDU Resources Group (NYSE:MDUGet Rating) from a buy rating to a neutral rating in a research note published on Friday morning, Marketbeat Ratings reports. The brokerage currently has $30.00 price target on the utilities provider’s stock, up from their prior price target of $29.00.

MDU Resources Group Stock Down 2.1 %

NYSE:MDU opened at $29.20 on Friday. The company has a market cap of $5.94 billion, a PE ratio of 18.14, a P/E/G ratio of 2.12 and a beta of 0.75. MDU Resources Group has a one year low of $24.92 and a one year high of $33.34. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.35 and a quick ratio of 1.02. The firm’s 50 day simple moving average is $27.17 and its 200 day simple moving average is $27.03.

MDU Resources Group (NYSE:MDUGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The utilities provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.16). The business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.48 billion. MDU Resources Group had a net margin of 5.32% and a return on equity of 9.76%. The business’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.50 EPS. On average, research analysts anticipate that MDU Resources Group will post 2.05 earnings per share for the current year.

MDU Resources Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 1st. Investors of record on Thursday, June 9th were given a $0.2175 dividend. This represents a $0.87 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend was Wednesday, June 8th. MDU Resources Group’s dividend payout ratio (DPR) is 54.04%.

Institutional Trading of MDU Resources Group

Institutional investors have recently made changes to their positions in the stock. M&T Bank Corp increased its holdings in shares of MDU Resources Group by 0.7% during the second quarter. M&T Bank Corp now owns 330,886 shares of the utilities provider’s stock valued at $8,918,000 after acquiring an additional 2,284 shares in the last quarter. Securian Asset Management Inc. increased its stake in MDU Resources Group by 2.1% in the 2nd quarter. Securian Asset Management Inc. now owns 18,538 shares of the utilities provider’s stock worth $500,000 after acquiring an additional 384 shares during the last quarter. GW Henssler & Associates Ltd. bought a new position in shares of MDU Resources Group during the 2nd quarter valued at approximately $305,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new position in MDU Resources Group during the 2nd quarter valued at $455,000. Finally, Nisa Investment Advisors LLC boosted its holdings in MDU Resources Group by 21.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 68,400 shares of the utilities provider’s stock valued at $1,846,000 after acquiring an additional 12,000 shares during the period. Hedge funds and other institutional investors own 70.14% of the company’s stock.

About MDU Resources Group

(Get Rating)

MDU Resources Group, Inc engages in the regulated energy delivery, and construction materials and services businesses in the United States. The company's Electric segment generates, transmits, and distributes electricity for residential, commercial, industrial, and municipal customers in Montana, North Dakota, South Dakota, and Wyoming, as well as operates 3,500 miles of transmission lines and 4,800 miles of distribution lines.

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