MDU Resources Group (NYSE:MDU) Upgraded to “Buy” at Siebert Williams Shank

Siebert Williams Shank upgraded shares of MDU Resources Group (NYSE:MDU) from a hold rating to a buy rating in a research report sent to investors on Monday morning, Marketbeat Ratings reports. They currently have $19.00 price target on the utilities provider’s stock.

MDU has been the topic of a number of other research reports. StockNews.com assumed coverage on MDU Resources Group in a research report on Monday, October 28th. They issued a “hold” rating on the stock. Bank of America reaffirmed a “neutral” rating and set a $31.00 price target (up from $30.00) on shares of MDU Resources Group in a report on Monday, October 21st.

MDU Resources Group Stock Performance

Shares of NYSE:MDU opened at $17.51 on Monday. MDU Resources Group has a 1 year low of $14.91 and a 1 year high of $30.52. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of 8.76, a price-to-earnings-growth ratio of 1.45 and a beta of 0.76. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.22 and a quick ratio of 1.15. The company’s 50 day simple moving average is $26.32 and its 200 day simple moving average is $25.59.

MDU Resources Group (NYSE:MDU) last issued its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.11. MDU Resources Group had a return on equity of 11.29% and a net margin of 9.25%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the company posted $0.29 EPS. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. As a group, research analysts predict that MDU Resources Group will post 1.57 EPS for the current fiscal year.

MDU Resources Group Announces Dividend

The company also recently announced a dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 21st were given a $12.875 dividend. The ex-dividend date of this dividend was Friday, November 1st. MDU Resources Group’s dividend payout ratio is presently 26.00%.

Institutional Trading of MDU Resources Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quest Partners LLC bought a new stake in MDU Resources Group during the 3rd quarter worth approximately $83,000. Natixis Advisors LLC grew its stake in shares of MDU Resources Group by 7.6% in the third quarter. Natixis Advisors LLC now owns 41,657 shares of the utilities provider’s stock worth $1,142,000 after purchasing an additional 2,931 shares during the last quarter. ING Groep NV increased its holdings in MDU Resources Group by 51.2% in the third quarter. ING Groep NV now owns 257,000 shares of the utilities provider’s stock valued at $7,044,000 after purchasing an additional 87,000 shares during the period. KBC Group NV increased its holdings in MDU Resources Group by 22.0% in the third quarter. KBC Group NV now owns 5,519 shares of the utilities provider’s stock valued at $151,000 after purchasing an additional 997 shares during the period. Finally, MQS Management LLC bought a new position in MDU Resources Group during the 3rd quarter worth $550,000. 71.44% of the stock is currently owned by institutional investors.

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.