Mdu Resources Group (NYSE:MDU) Trading Down 8.5%

Shares of Mdu Resources Group Inc (NYSE:MDU) dropped 8.5% on Monday . The stock traded as low as $26.57 and last traded at $27.03, approximately 2,358,067 shares were traded during trading. An increase of 52% from the average daily volume of 1,552,728 shares. The stock had previously closed at $29.54.

MDU has been the topic of several recent research reports. ValuEngine cut Mdu Resources Group from a “hold” rating to a “sell” rating in a research report on Thursday, February 6th. Zacks Investment Research upgraded Mdu Resources Group from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research report on Tuesday, March 3rd.

The company has a current ratio of 1.50, a quick ratio of 1.18 and a debt-to-equity ratio of 0.81. The stock has a market cap of $5.92 billion, a P/E ratio of 16.38, a PEG ratio of 2.81 and a beta of 0.71. The firm has a 50-day simple moving average of $30.29 and a two-hundred day simple moving average of $28.91.

Mdu Resources Group (NYSE:MDU) last posted its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.08. Mdu Resources Group had a return on equity of 12.29% and a net margin of 6.28%. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the business earned $0.39 EPS. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. Sell-side analysts predict that Mdu Resources Group Inc will post 1.75 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Thursday, March 12th will be given a $0.2075 dividend. This represents a $0.83 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Wednesday, March 11th. Mdu Resources Group’s payout ratio is currently 49.11%.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of Mdu Resources Group by 12.2% in the second quarter. BlackRock Inc. now owns 21,236,316 shares of the utilities provider’s stock worth $547,896,000 after purchasing an additional 2,312,808 shares during the period. Acadian Asset Management LLC boosted its stake in Mdu Resources Group by 13.9% in the fourth quarter. Acadian Asset Management LLC now owns 3,664,859 shares of the utilities provider’s stock valued at $108,883,000 after buying an additional 446,430 shares in the last quarter. Parnassus Investments CA boosted its stake in Mdu Resources Group by 38.9% in the fourth quarter. Parnassus Investments CA now owns 3,117,568 shares of the utilities provider’s stock valued at $92,623,000 after buying an additional 873,359 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Mdu Resources Group by 5.9% in the fourth quarter. Bank of New York Mellon Corp now owns 2,986,421 shares of the utilities provider’s stock valued at $88,727,000 after buying an additional 165,906 shares in the last quarter. Finally, Norges Bank acquired a new stake in Mdu Resources Group in the fourth quarter valued at about $74,506,000. Institutional investors own 68.69% of the company’s stock.

About Mdu Resources Group (NYSE:MDU)

MDU Resources Group, Inc engages in regulated energy delivery, and construction materials and services businesses in the United States. It operates through five segments: Electric, Natural Gas Distribution, Pipeline and Midstream, Construction Materials and Contracting, and Construction Services. The Electric segment generates, transmits, and distributes electricity in Montana, North Dakota, South Dakota, and Wyoming.

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