MDU Resources Group, Inc. Announces Quarterly Dividend of $0.13 (NYSE:MDU)

MDU Resources Group, Inc. (NYSE:MDU) announced a quarterly dividend on Wednesday, May 14th, RTT News reports. Stockholders of record on Thursday, June 12th will be paid a dividend of 0.13 per share by the utilities provider on Tuesday, July 1st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.10%.

MDU Resources Group has decreased its dividend by an average of 15.8% annually over the last three years and has increased its dividend annually for the last 1 consecutive years. MDU Resources Group has a payout ratio of 50.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect MDU Resources Group to earn $1.01 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 51.5%.

MDU Resources Group Stock Down 1.5%

NYSE:MDU opened at $16.75 on Thursday. The stock has a 50-day simple moving average of $16.80 and a 200 day simple moving average of $17.87. MDU Resources Group has a 52-week low of $13.23 and a 52-week high of $20.39. The company has a market cap of $3.42 billion, a PE ratio of 12.14, a PEG ratio of 2.76 and a beta of 0.72. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.07 and a current ratio of 1.15.

MDU Resources Group (NYSE:MDU) last issued its quarterly earnings results on Thursday, May 8th. The utilities provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.04. MDU Resources Group had a net margin of 7.31% and a return on equity of 10.20%. The company had revenue of $674.80 million during the quarter, compared to analysts’ expectations of $653.13 million. During the same period last year, the business earned $0.52 EPS. The business’s quarterly revenue was up 14.7% on a year-over-year basis. On average, sell-side analysts expect that MDU Resources Group will post 0.94 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of MDU Resources Group from a “sell” rating to a “hold” rating in a research note on Monday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.00.

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.