MDU Resources Group (NYSE:MDU) Issues FY22 Earnings Guidance

MDU Resources Group (NYSE:MDUGet Rating) issued an update on its FY22 earnings guidance on Thursday morning. The company provided EPS guidance of $1.75-1.95 for the period, compared to the consensus EPS estimate of $2.01. MDU Resources Group also updated its FY 2022 guidance to $1.75-$1.90 EPS.

Analyst Upgrades and Downgrades

Separately, Bank of America cut shares of MDU Resources Group from a buy rating to a neutral rating and raised their price target for the stock from $29.00 to $30.00 in a research note on Friday.

MDU Resources Group Trading Down 2.1 %

Shares of MDU stock traded down $0.62 during trading hours on Friday, hitting $29.20. 2,105,013 shares of the company were exchanged, compared to its average volume of 1,162,517. The firm has a market cap of $5.94 billion, a PE ratio of 18.14, a PEG ratio of 2.12 and a beta of 0.75. MDU Resources Group has a 1 year low of $24.92 and a 1 year high of $33.34. The company has a quick ratio of 1.02, a current ratio of 1.35 and a debt-to-equity ratio of 0.77. The firm has a fifty day moving average of $27.17 and a 200 day moving average of $27.03.

MDU Resources Group (NYSE:MDUGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The utilities provider reported $0.35 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.16). MDU Resources Group had a net margin of 5.32% and a return on equity of 9.76%. The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the business posted $0.50 EPS. The company’s quarterly revenue was up 19.6% on a year-over-year basis. Analysts expect that MDU Resources Group will post 2.05 earnings per share for the current year.

MDU Resources Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 1st. Shareholders of record on Thursday, June 9th were issued a $0.2175 dividend. This represents a $0.87 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date was Wednesday, June 8th. MDU Resources Group’s dividend payout ratio is presently 54.04%.

Institutional Investors Weigh In On MDU Resources Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its stake in shares of MDU Resources Group by 16.8% during the first quarter. Bank of America Corp DE now owns 593,439 shares of the utilities provider’s stock valued at $15,816,000 after purchasing an additional 85,245 shares in the last quarter. Walleye Capital LLC bought a new stake in shares of MDU Resources Group during the first quarter valued at about $404,000. Linscomb & Williams Inc. bought a new stake in shares of MDU Resources Group during the first quarter valued at about $392,000. Advisors Asset Management Inc. raised its stake in shares of MDU Resources Group by 2.5% during the first quarter. Advisors Asset Management Inc. now owns 101,689 shares of the utilities provider’s stock valued at $2,710,000 after purchasing an additional 2,523 shares in the last quarter. Finally, Mirabella Financial Services LLP bought a new stake in shares of MDU Resources Group during the first quarter valued at about $732,000. 70.14% of the stock is currently owned by institutional investors.

About MDU Resources Group

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MDU Resources Group, Inc engages in the regulated energy delivery, and construction materials and services businesses in the United States. The company's Electric segment generates, transmits, and distributes electricity for residential, commercial, industrial, and municipal customers in Montana, North Dakota, South Dakota, and Wyoming, as well as operates 3,500 miles of transmission lines and 4,800 miles of distribution lines.

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