MDU Resources Group (NYSE:MDU) Now Covered by TD Cowen

Key Points

• TD Cowen has initiated coverage on MDU Resources Group with a "hold" rating and a price target of $20.00, suggesting a potential upside of 3.57% from its current price.
• Recent ratings from other brokerages have varied, with Zacks Research downgrading MDU to "strong sell" while Weiss Ratings upgraded it to "hold," indicating a diverse outlook among analysts.
• MDU Resources Group reported a missed EPS estimate in its last quarterly results, posting $0.07 compared to the expected $0.13, despite revenue exceeding forecasts at $351.20 million.

TD Cowen initiated coverage on shares of MDU Resources Group (NYSE:MDU - Get Free Report) in a note issued to investors on Thursday, MarketBeat reports. The firm set a "hold" rating and a $20.00 price target on the utilities provider's stock. TD Cowen's price objective points to a potential upside of 3.57% from the stock's current price.

A number of other brokerages have also commented on MDU. Zacks Research lowered MDU Resources Group from a "hold" rating to a "strong sell" rating in a research report on Tuesday. Weiss Ratings raised MDU Resources Group from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, October 8th. Cowen assumed coverage on MDU Resources Group in a report on Wednesday. They issued a "hold" rating for the company. Wall Street Zen downgraded MDU Resources Group from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Finally, Jefferies Financial Group raised MDU Resources Group from a "hold" rating to a "buy" rating and set a $20.00 price target for the company in a report on Friday, September 19th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, MDU Resources Group presently has a consensus rating of "Hold" and an average price target of $19.00.

MDU Resources Group Price Performance

Shares of MDU stock opened at $19.31 on Thursday. The stock's 50-day simple moving average is $16.93 and its 200-day simple moving average is $16.86. The firm has a market capitalization of $3.95 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 3.03 and a beta of 0.70. MDU Resources Group has a fifty-two week low of $14.91 and a fifty-two week high of $30.52. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.71 and a current ratio of 0.74.

MDU Resources Group (NYSE:MDU - Get Free Report) last issued its earnings results on Thursday, August 7th. The utilities provider reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.06). The firm had revenue of $351.20 million during the quarter, compared to analysts' expectations of $315.67 million. MDU Resources Group had a net margin of 8.25% and a return on equity of 8.29%. MDU Resources Group's quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 EPS. MDU Resources Group has set its FY 2025 guidance at 0.880-0.950 EPS. As a group, equities analysts forecast that MDU Resources Group will post 0.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Jason L. Vollmer acquired 5,000 shares of MDU Resources Group stock in a transaction that occurred on Monday, September 8th. The stock was purchased at an average cost of $16.07 per share, with a total value of $80,350.00. Following the purchase, the chief financial officer owned 344,548 shares in the company, valued at $5,536,886.36. This trade represents a 1.47% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.94% of the company's stock.

Institutional Trading of MDU Resources Group

A number of hedge funds and other institutional investors have recently modified their holdings of MDU. Norges Bank acquired a new stake in shares of MDU Resources Group in the 2nd quarter worth $40,087,000. Deroy & Devereaux Private Investment Counsel Inc. purchased a new position in shares of MDU Resources Group during the 2nd quarter worth $26,098,000. River Road Asset Management LLC purchased a new position in shares of MDU Resources Group during the 2nd quarter worth $26,105,000. Adage Capital Partners GP L.L.C. grew its holdings in shares of MDU Resources Group by 195.0% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,548,864 shares of the utilities provider's stock worth $26,191,000 after purchasing an additional 1,023,864 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of MDU Resources Group during the 1st quarter worth $14,636,000. 71.44% of the stock is owned by institutional investors and hedge funds.

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.

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