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

MDU Resources Group (NYSE:MDU)‘s stock had its “neutral” rating reissued by research analysts at Bank of America in a note issued to investors on Monday, Benzinga reports. They presently have a $31.00 price objective on the utilities provider’s stock, up from their previous price objective of $30.00. Bank of America‘s price objective points to a potential upside of 2.38% from the company’s current price.

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

MDU Resources Group Price Performance

Shares of NYSE:MDU opened at $30.28 on Monday. MDU Resources Group has a twelve month low of $18.04 and a twelve month high of $30.52. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 0.73. The company has a market cap of $6.17 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 2.66 and a beta of 0.77. The company’s 50 day moving average is $26.39 and its 200 day moving average is $25.60.

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, topping the consensus estimate 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 firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter last year, the company posted $0.29 earnings per share. The firm’s revenue was down 4.0% compared to the same quarter last year. On average, sell-side analysts forecast that MDU Resources Group will post 1.58 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MDU. V Square Quantitative Management LLC acquired a new position in shares of MDU Resources Group during the third quarter valued at approximately $25,000. Atlas Capital Advisors LLC acquired a new stake in shares of MDU Resources Group in the second quarter valued at about $27,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of MDU Resources Group by 23.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,142 shares of the utilities provider’s stock worth $54,000 after buying an additional 413 shares in the last quarter. Blue Trust Inc. grew its stake in MDU Resources Group by 238.1% during the 3rd quarter. Blue Trust Inc. now owns 2,935 shares of the utilities provider’s stock valued at $74,000 after acquiring an additional 2,067 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in MDU Resources Group during the 2nd quarter valued at about $163,000. Hedge funds and other institutional investors 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.