Price Don’t Lie: Could MDU Resources Group Inc Lose its Strength? The Stock Reaches 52-Week High

Price Don't Lie: Could MDU Resources Group Inc Lose its Strength? The Stock Reaches 52 Week High

The stock of MDU Resources Group Inc (NYSE:MDU) hit a new 52-week high and has $30.80 target or 8.00% above today’s $28.52 share price. The 6 months bullish chart indicates low risk for the $5.59B company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $30.80 price target is reached, the company will be worth $447.20M 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. About 492,926 shares traded hands. MDU Resources Group Inc (NYSE:MDU) has risen 43.52% since April 20, 2016 and is uptrending. It has outperformed by 38.96% 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. 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 decreased to 1.05 in 2016 Q2. Its down 0.55, from 1.6 in 2016Q1. The ratio worsened, 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.
New York Life Tru accumulated 2,105 shares or 0.25% of the stock. Parnassus Investments Ca accumulated 13.03M shares or 1.9% of the stock. Legal & General Grp Public Limited, a United Kingdom-based fund reported 803,584 shares. Proshare Advsrs Limited Liability Co, a Maryland-based fund reported 124,995 shares. Goldman Sachs Gp Inc last reported 1.64 million shares in the company. Ftb Advisors holds 0% of its portfolio in MDU Resources Group Inc (NYSE:MDU) for 504 shares. Moors And Cabot holds 27,721 shares or 0.12% of its portfolio. Ls Ltd Limited Liability Company last reported 0.02% of its portfolio in the stock. Moreover, Nomura has 0% invested in MDU Resources Group Inc (NYSE:MDU) for 20,400 shares. Checchi Cap Advisers Ltd Liability Company accumulated 0% or 1,696 shares. Zacks Inv Mgmt last reported 0.03% of its portfolio in the stock. Cipher Capital Ltd Partnership has 150,882 shares for 0.25% of their US portfolio. Mairs And Power holds 537,886 shares or 0.17% of its portfolio. Metropolitan Life Ins Communications accumulated 183,421 shares or 0.03% of the stock. Moreover, Strs Ohio has 0.28% invested in MDU Resources Group Inc (NYSE:MDU) for 2.64 million shares.

Insider Transactions: Since August 11, 2016, the stock had 0 buys, and 10 insider sales for $7.03 million net activity. EVERIST THOMAS S sold $699,579 worth of stock.

More recent MDU Resources Group Inc (NYSE:MDU) news were published by: Prnewswire.com which released: “MDU Resources Increases Dividend for 26th Consecutive Year” on November 17, 2016. Also Prnewswire.com published the news titled: “MDU Resources Subsidiary Signs Sale Agreement for its Share of N.D. Natural …” on November 21, 2016. Nasdaq.com‘s news article titled: “MDU Resources Group Reaches Analyst Target Price” with publication date: November 09, 2016 was also an interesting one.

MDU Company Profile

MDU Resources Group, Inc., incorporated on March 14, 1924, is a diversified natural resource company. The Company’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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