Price Action Report: Is Buying MDU Resources Group Inc Here a Winning Strategy?

Price Action Report: Is Buying MDU Resources Group Inc Here a Winning Strategy?

The stock of MDU Resources Group Inc (NYSE:MDU) hit a new 52-week high and has $30.09 target or 5.00% above today’s $28.66 share price. The 6 months bullish chart indicates low risk for the $5.66B company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $30.09 price target is reached, the company will be worth $283.00 million 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 632,114 shares traded hands. MDU Resources Group Inc (NYSE:MDU) has risen 44.29% since April 26, 2016 and is uptrending. It has outperformed by 39.03% the S&P500.

Analysts await MDU Resources Group Inc (NYSE:MDU) to report earnings on February, 1. They expect $0.28 EPS, up 12.00% or $0.03 from last year’s $0.25 per share. MDU’s profit will be $55.30 million for 25.59 P/E if the $0.28 EPS becomes a reality. After $0.45 actual EPS reported by MDU Resources Group Inc for the previous quarter, Wall Street now forecasts -37.78% negative EPS growth.

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. On Tuesday, May 31 the stock rating was upgraded by Argus Research to “Buy”.

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 is negative, 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.
Checchi Advisers Limited Liability Co accumulated 0% or 1,696 shares. Thompson Investment Inc holds 0.09% or 19,100 shares in its portfolio. Royal Bankshares Of Canada owns 300,130 shares or 0% of their US portfolio. Frontier Cap Management Limited Liability Corporation holds 0.29% of its portfolio in MDU Resources Group Inc (NYSE:MDU) for 1.45 million shares. The Australia-based Amp Investors Limited has invested 0% in MDU Resources Group Inc (NYSE:MDU). Legal And General Gru Public Limited Co reported 803,584 shares or 0.02% of all its holdings. Dynamic Cap holds 0.13% or 45,660 shares in its portfolio. Jpmorgan Chase Com holds 0% of its portfolio in MDU Resources Group Inc (NYSE:MDU) for 263,082 shares. Citadel Advisors Llc has 0% invested in the company for 30,194 shares. Janus Mngmt Limited Co last reported 25,000 shares in the company. Canada Pension Plan Board accumulated 51,210 shares or 0% of the stock. State Street Corp last reported 0.04% of its portfolio in the stock. Manufacturers Life Insurance Com The last reported 263,587 shares in the company. First Manhattan Com holds 279,425 shares or 0.04% of its portfolio. Tiaa Cref Investment Mngmt Lc holds 1.02M shares or 0.02% of its portfolio.

Insider Transactions: Since August 11, 2016, the stock had 0 insider buys, and 10 insider sales for $7.03 million net activity. EVERIST THOMAS S sold $707,532 worth of stock.

More news for MDU Resources Group Inc (NYSE:MDU) were recently published by: Prnewswire.com, which released: “MDU Resources Subsidiary Signs Sale Agreement for its Share of N.D. Natural …” on November 21, 2016. Prnewswire.com‘s article titled: “MDU Resources Provides Five-Year Capital Plan Forecast” and published on November 22, 2016 is yet another important article.

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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