MDU Resources Group (NYSE:MDU) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of MDU Resources Group (NYSE:MDU) in a research note issued on Saturday. The brokerage set a “hold” rating on the utilities provider’s stock.

MDU Resources Group Stock Performance

NYSE MDU opened at $28.59 on Friday. The firm has a market cap of $5.83 billion, a P/E ratio of 14.29, a price-to-earnings-growth ratio of 2.66 and a beta of 0.77. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 0.73. The company’s 50 day moving average is $25.91 and its 200-day moving average is $25.40. MDU Resources Group has a 12-month low of $18.04 and a 12-month high of $28.71.

MDU Resources Group (NYSE:MDU) last issued its earnings results on Thursday, August 8th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the firm posted $0.29 EPS. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. Sell-side analysts predict that MDU Resources Group will post 1.58 earnings per share for the current year.

Institutional Investors Weigh In On MDU Resources Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. State Board of Administration of Florida Retirement System lifted its position in MDU Resources Group by 29.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 280,244 shares of the utilities provider’s stock valued at $7,062,000 after purchasing an additional 63,403 shares during the last quarter. Russell Investments Group Ltd. grew its position in MDU Resources Group by 17.0% in the first quarter. Russell Investments Group Ltd. now owns 401,619 shares of the utilities provider’s stock worth $10,121,000 after acquiring an additional 58,220 shares in the last quarter. Meeder Asset Management Inc. increased its stake in MDU Resources Group by 58.2% in the first quarter. Meeder Asset Management Inc. now owns 54,111 shares of the utilities provider’s stock valued at $1,364,000 after acquiring an additional 19,916 shares during the last quarter. SG Americas Securities LLC purchased a new stake in MDU Resources Group during the second quarter valued at about $2,198,000. Finally, Resolute Capital Asset Partners LLC bought a new stake in MDU Resources Group during the second quarter worth about $2,008,000. Hedge funds and other institutional investors own 71.44% of the company’s stock.

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.