MDU Resources Group (NYSE:MDU) Upgraded to Buy at Bank of America

Bank of America upgraded shares of MDU Resources Group (NYSE:MDU) from a neutral rating to a buy rating in a report released on Tuesday morning, Marketbeat Ratings reports. The brokerage currently has $17.00 target price on the utilities provider’s stock, down from their previous target price of $31.00.

A number of other equities analysts have also recently issued reports on MDU. Siebert Williams Shank raised shares of MDU Resources Group from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research note on Monday, November 4th. StockNews.com assumed coverage on MDU Resources Group in a research report on Tuesday. They issued a “hold” rating on the stock.

MDU Resources Group Trading Up 2.4 %

MDU stock opened at $17.93 on Tuesday. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 0.73. MDU Resources Group has a twelve month low of $14.91 and a twelve month high of $30.52. The company has a market cap of $3.66 billion, a P/E ratio of 8.97, a PEG ratio of 2.23 and a beta of 0.76. The business has a fifty day moving average of $26.17 and a 200-day moving average of $25.55.

MDU Resources Group (NYSE:MDU) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $969.17 million. MDU Resources Group had a return on equity of 11.29% and a net margin of 9.25%. The company’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. As a group, equities research analysts expect that MDU Resources Group will post 1.12 EPS for the current year.

MDU Resources Group Announces Dividend

The company also recently disclosed a dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 21st were issued a dividend of $12.875 per share. The ex-dividend date was Friday, November 1st. MDU Resources Group’s dividend payout ratio is currently 26.00%.

Institutional Investors Weigh In On MDU Resources Group

Several hedge funds have recently bought and sold shares of MDU. V Square Quantitative Management LLC bought a new stake in shares of MDU Resources Group in the 3rd quarter valued at $25,000. Atlas Capital Advisors LLC acquired a new position in MDU Resources Group in the second quarter valued at about $27,000. Venturi Wealth Management LLC increased its holdings in shares of MDU Resources Group by 158.9% in the third quarter. Venturi Wealth Management LLC now owns 1,196 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 734 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of MDU Resources Group during the third quarter worth about $40,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of MDU Resources Group by 23.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,142 shares of the utilities provider’s stock valued at $54,000 after purchasing an additional 413 shares in the last quarter. 71.44% of the stock is currently owned by institutional investors and hedge funds.

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.