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

MDU Resources Group (NYSE:MDU)‘s stock had its “neutral” rating restated by stock analysts at Bank of America in a research note issued on Monday, MarketBeat.com reports. They currently have a $31.00 price target on the utilities provider’s stock, up from their previous price target of $30.00. Bank of America‘s target price would indicate a potential upside of 7.43% from the stock’s current price.

Separately, StockNews.com assumed coverage on MDU Resources Group in a report on Sunday. They set a “hold” rating on the stock.

MDU Resources Group Stock Down 1.3 %

Shares of MDU opened at $28.86 on Monday. The company has a market capitalization of $5.88 billion, a P/E ratio of 12.33, a PEG ratio of 2.66 and a beta of 0.77. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.22 and a quick ratio of 1.15. MDU Resources Group has a one year low of $18.04 and a one year high of $30.52. The business’s 50 day simple moving average is $26.59 and its 200-day simple moving average is $25.66.

MDU Resources Group (NYSE:MDU) last posted its quarterly earnings data on Thursday, August 8th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the business earned $0.29 EPS. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. As a group, sell-side analysts predict that MDU Resources Group will post 1.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Barrow Hanley Mewhinney & Strauss LLC raised its stake in MDU Resources Group by 40.9% during 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 buying an additional 1,756,530 shares during the period. American Century Companies Inc. increased its holdings in MDU Resources Group by 30.7% during 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 in the last quarter. Hood River Capital Management LLC bought a new position in MDU Resources Group during the 2nd quarter worth about $24,372,000. Dimensional Fund Advisors LP increased its holdings in MDU Resources Group by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,491,990 shares of the utilities provider’s stock worth $188,049,000 after purchasing an additional 563,424 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of MDU Resources Group by 36.6% in the 2nd quarter. AQR Capital Management LLC now owns 1,745,980 shares of the utilities provider’s stock valued at $43,824,000 after acquiring an additional 467,465 shares in the last quarter. Institutional investors and hedge funds own 71.44% of the company’s stock.

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.