MDU Resources Group (NYSE:MDU) Shares Gap Down – Here’s What Happened

Shares of MDU Resources Group, Inc. (NYSE:MDU) gapped down before the market opened on Thursday . The stock had previously closed at $17.99, but opened at $17.23. MDU Resources Group shares last traded at $17.45, with a volume of 237,239 shares.

Analysts Set New Price Targets

A number of equities analysts have weighed in on MDU shares. Jefferies Financial Group began coverage on shares of MDU Resources Group in a research note on Wednesday, January 8th. They set a “hold” rating and a $18.00 price target on the stock. StockNews.com cut MDU Resources Group from a “hold” rating to a “sell” rating in a report on Friday. Bank of America upgraded shares of MDU Resources Group from a “neutral” rating to a “buy” rating and cut their price target for the company from $31.00 to $17.00 in a report on Tuesday, November 5th. Finally, Siebert Williams Shank raised shares of MDU Resources Group from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $21.00.

MDU Resources Group Price Performance

The company’s 50-day simple moving average is $18.33 and its 200-day simple moving average is $22.61. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.15 and a quick ratio of 1.07. The company has a market cap of $3.38 billion, a price-to-earnings ratio of 12.00, a P/E/G ratio of 2.61 and a beta of 0.80.

MDU Resources Group (NYSE:MDU) last released its quarterly earnings results on Thursday, February 6th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.03. MDU Resources Group had a net margin of 7.31% and a return on equity of 10.20%. On average, equities research analysts anticipate that MDU Resources Group, Inc. will post 0.95 EPS for the current year.

MDU Resources Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Thursday, December 12th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date was Thursday, December 12th. MDU Resources Group’s dividend payout ratio is currently 37.68%.

Institutional Investors Weigh In On MDU Resources Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. grew its position in shares of MDU Resources Group by 23.9% during 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. Truist Financial Corp bought a new stake in shares of MDU Resources Group in the 2nd quarter worth about $218,000. Cetera Investment Advisers raised its stake in shares of MDU Resources Group by 47.4% in the 2nd quarter. Cetera Investment Advisers now owns 50,114 shares of the utilities provider’s stock valued at $1,258,000 after purchasing an additional 16,125 shares in the last quarter. Inspire Investing LLC lifted its position in shares of MDU Resources Group by 7.4% during the third quarter. Inspire Investing LLC now owns 15,019 shares of the utilities provider’s stock worth $412,000 after purchasing an additional 1,033 shares during the last quarter. Finally, Wesbanco Bank Inc. bought a new stake in MDU Resources Group in the third quarter valued at about $210,000. 71.44% of the stock is currently owned by hedge funds and other institutional investors.

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.