MDU Resources Group (NYSE:MDU) Rating Reiterated by Bank of America

Bank of America reaffirmed their neutral rating on shares of MDU Resources Group (NYSE:MDU) in a report published on Monday, Marketbeat.com reports. The brokerage currently has a $31.00 price objective on the utilities provider’s stock, up from their prior price objective of $30.00.

Separately, StockNews.com assumed coverage on MDU Resources Group in a report on Sunday, October 20th. They set a “hold” rating for the company.

MDU Resources Group Stock Performance

Shares of MDU opened at $28.77 on Monday. MDU Resources Group has a 52 week low of $18.04 and a 52 week high of $30.52. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.15 and a current ratio of 1.22. The company has a market capitalization of $5.87 billion, a PE ratio of 12.29, a PEG ratio of 2.66 and a beta of 0.77. The company’s 50 day moving average price is $26.77 and its 200 day moving average price is $25.70.

MDU Resources Group (NYSE:MDU) last posted its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.32 EPS for the quarter, beating the consensus estimate of $0.21 by $0.11. MDU Resources Group had a net margin of 9.25% and a return on equity of 11.29%. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the previous year, the company posted $0.29 EPS. MDU Resources Group’s revenue was down 4.0% on a year-over-year basis. Research analysts expect that MDU Resources Group will post 1.58 EPS for the current fiscal year.

MDU Resources Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Thursday, September 12th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.81%. This is an increase from MDU Resources Group’s previous quarterly dividend of $0.13. MDU Resources Group’s dividend payout ratio (DPR) is currently 22.22%.

Institutional Investors Weigh In On MDU Resources Group

Large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its position in shares of MDU Resources Group by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 7,491,990 shares of the utilities provider’s stock worth $188,049,000 after buying an additional 563,424 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in MDU Resources Group by 40.9% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,048,344 shares of the utilities provider’s stock worth $151,813,000 after purchasing an additional 1,756,530 shares during the last quarter. American Century Companies Inc. lifted its holdings in MDU Resources Group by 30.7% in the 2nd quarter. American Century Companies Inc. now owns 4,158,224 shares of the utilities provider’s stock worth $104,371,000 after purchasing an additional 977,487 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in MDU Resources Group by 6.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,894,826 shares of the utilities provider’s stock worth $47,750,000 after purchasing an additional 119,665 shares during the period. Finally, AQR Capital Management LLC grew its holdings in MDU Resources Group by 36.6% during the second quarter. AQR Capital Management LLC now owns 1,745,980 shares of the utilities provider’s stock valued at $43,824,000 after purchasing an additional 467,465 shares during the last quarter. 71.44% of the stock is currently owned by institutional investors.

About MDU Resources Group

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.