The stock of MDU Resources Group Inc (NYSE:MDU) hit a new 52-week high and has $38.54 target or 46.00% above today’s $26.40 share price. The 5 months bullish chart indicates low risk for the $5.03 billion company. The 1-year high was reported on Nov, 7 by Barchart.com. If the $38.54 price target is reached, the company will be worth $2.31 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 2.05% or $0.53 on November 7, hitting $26.4. About 1.10 million shares traded hands or 12.95% up from the average. MDU Resources Group Inc (NYSE:MDU) has risen 36.81% since April 5, 2016 and is uptrending. It has outperformed by 34.85% the S&P500.
MDU Resources Group Inc (NYSE:MDU) Ratings Coverage
Out of 3 analysts covering MDU Resources (NYSE:MDU), 1 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 33% are positive. $26 is the highest target while $15 is the lowest. The $20.33 average target is -22.99% below today’s ($26.4) stock price. MDU Resources has been the topic of 5 analyst reports since August 6, 2015 according to StockzIntelligence Inc. Argus Research upgraded MDU Resources Group Inc (NYSE:MDU) on Tuesday, May 31 to “Buy” rating.
According to Zacks Investment Research, “MDU Resources Group, Inc. provides value-added natural resource products and related services that are essential to energy and transportation infrastructure, including regulated businesses, an exploration and production company and construction companies. MDU Resources includes regulated electric and natural gas utilities and regulated natural gas pipelines and energy services, natural gas and oil production, construction materials and contracting, and construction services.”
Insitutional Activity: The institutional sentiment increased to 1.6 in 2016 Q2. Its up 0.09, from 1.51 in 2016Q1. The ratio increased, as 24 funds sold all MDU Resources Group Inc shares owned while 70 reduced positions. 46 funds bought stakes while 104 increased positions. They now own 121.51 million shares or 1.38% more from 119.86 million shares in 2016Q1.
State Street has 0.04% invested in the company for 14.89M shares. Moreover, Profund Advsrs Ltd Liability has 0.05% invested in MDU Resources Group Inc (NYSE:MDU) for 39,890 shares. Motco has 450 shares for 0% of their US portfolio. Zurcher Kantonalbank (Zurich Cantonalbank) accumulated 0% or 5,404 shares. Clearbridge Invests Lc last reported 0% of its portfolio in the stock. The Illinois-based Keeley Asset Mgmt Corporation has invested 0.57% in MDU Resources Group Inc (NYSE:MDU). Bank Of America Corp De last reported 0% of its portfolio in the stock. Parnassus Investments Ca holds 1.9% or 13.03M shares in its portfolio. Voya Management owns 63,657 shares or 0% of their US portfolio. Price T Rowe Assoc Inc Md holds 0% of its portfolio in MDU Resources Group Inc (NYSE:MDU) for 61,835 shares. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Inv Mngmt Corp, a Alberta – Canada-based fund reported 51,500 shares. Janus Management Limited Liability Co reported 25,000 shares or 0% of all its holdings. Creative Planning holds 0% of its portfolio in MDU Resources Group Inc (NYSE:MDU) for 6,719 shares. Principal Financial Gru Inc has 1.29 million shares for 0.04% of their US portfolio. Tower Cap Limited Liability Corporation (Trc) has invested 0.02% of its portfolio in MDU Resources Group Inc (NYSE:MDU).
Insider Transactions: Since August 11, 2016, the stock had 0 buys, and 10 insider sales for $7.03 million net activity. Shares for $710,493 were sold by EVERIST THOMAS S on Tuesday, August 23.
Another recent and important MDU Resources Group Inc (NYSE:MDU) news was published by Prnewswire.com which published an article titled: “Record Earnings at Construction Materials Business Leads MDU Resources’ Third …” on November 02, 2016.
MDU Company Profile
MDU Resources Group, Inc., incorporated on March 14, 1924, is a diversified natural resource company. The Companyâ€™s divisions include Electric, Natural Gas Distribution, Pipeline and Midstream, Construction Materials and Contracting, Construction Services and Refining. Montana-Dakota Utilities Co. (Montana-Dakota) is a public utility division of the Company. Montana-Dakota, through the electric and natural gas distribution divisions, generates, transmits and distributes electricity and distributes natural gas in Montana, North Dakota, South Dakota and Wyoming. The Company, through Cascade Natural Gas Corporation (Cascade) distributes natural gas in Oregon and Washington. The Company, through Intermountain Gas Company (Intermountain) distributes natural gas in Idaho. Great Plains Natural Gas Co. (Great Plains) is a public utility division of the Company. Great Plains distributes natural gas in western Minnesota and southeastern North Dakota.
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