MDU Resources Group, Inc. (NYSE:MDU) announced a quarterly dividend on Thursday, November 16th, RTT News reports. Shareholders of record on Thursday, December 14th will be given a dividend of 0.1975 per share by the utilities provider on Monday, January 1st. This represents a $0.79 dividend on an annualized basis and a yield of 3.00%. This is a boost from MDU Resources Group’s previous quarterly dividend of $0.19.
MDU Resources Group has increased its dividend payment by an average of 13.2% per year over the last three years and has increased its dividend annually for the last 7 consecutive years. MDU Resources Group has a dividend payout ratio of 64.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect MDU Resources Group to earn $1.38 per share next year, which means the company should continue to be able to cover its $0.77 annual dividend with an expected future payout ratio of 55.8%.
MDU Resources Group (NYSE MDU) traded down $0.53 during trading on Thursday, reaching $26.36. The company’s stock had a trading volume of 970,000 shares, compared to its average volume of 854,536. MDU Resources Group has a 52 week low of $25.14 and a 52 week high of $29.92. The company has a quick ratio of 1.01, a current ratio of 1.28 and a debt-to-equity ratio of 0.68. The firm has a market cap of $5,251.73, a PE ratio of 22.60, a price-to-earnings-growth ratio of 2.82 and a beta of 0.92.
MDU has been the subject of a number of recent research reports. KeyCorp reaffirmed a “buy” rating and set a $28.00 price objective on shares of MDU Resources Group in a research report on Friday, October 20th. Zacks Investment Research raised MDU Resources Group from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Wednesday, October 11th. Finally, BidaskClub raised MDU Resources Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $30.75.
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MDU Resources Group Company Profile
MDU Resources Group, Inc is engaged in regulated energy delivery and construction materials and services business. The Company’s businesses segments are electric, natural gas distribution, pipeline and midstream, construction materials and contracting, and construction services. The electric segment generates, transmits and distributes electricity.
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