STOCK TITAN

MDU Resources Group, Inc. - MDU STOCK NEWS

Welcome to our dedicated page for MDU Resources Group news (Ticker: MDU), a resource for investors and traders seeking the latest updates and insights on MDU Resources Group stock.

MDU Resources Group, Inc. (NYSE: MDU) is a diversified energy and infrastructure company that plays a vital role in the U.S. economy. Founded in 1924, the company started as a small electric utility serving rural communities in Montana and North Dakota. Today, MDU Resources is a multibillion-dollar corporation providing essential products and services that support energy and transportation infrastructure across the country.

The company operates in five key segments:

  • Electric: Generates, transmits, and distributes electricity in Montana, North Dakota, South Dakota, and Wyoming.
  • Natural Gas Distribution: Distributes natural gas in the above states as well as Idaho, Minnesota, Oregon, and Washington.
  • Pipeline: Offers natural gas transportation and underground storage services through a regulated pipeline system in the Rocky Mountain and Northern Great Plains regions of the U.S.
  • Construction Services: Provides a broad range of construction services through its electrical, mechanical, and transmission and distribution specialty contracting services.
  • Everus Construction Group: Recently rebranded and expected to spin off as an independent company, offering a full spectrum of construction services across the U.S.

MDU Resources is committed to delivering value-added natural resource products and related services that are vital to energy and transportation infrastructure. Some of the company's recent achievements include:

  • Approval of the Wahpeton Expansion project by the Federal Energy Regulatory Commission, allowing for the construction and operation of a natural gas pipeline expansion in eastern North Dakota.
  • Completion of a strategic plan to spin off MDU Construction Services Group, Inc., rebranded as Everus Construction Group, to create two independent, publicly traded companies.
  • Record earnings from its pipeline and construction services businesses, demonstrating robust growth and performance.

The company's financial condition remains strong, with strategic investments in infrastructure modernization and expansion projects. MDU Resources is poised for continued growth as a pure-play regulated energy delivery business post-spinoff, focusing on providing reliable, affordable services to its 1.2 million customers.

MDU Resources Group, Inc. is a member of the S&P MidCap 400 Index and continues to leverage its nearly century-long legacy of reliable service, innovation, and community commitment to drive shareholder value and economic growth.

Rhea-AI Summary

Knife River (NYSE: KNF) has announced a definitive agreement to acquire Strata for $454 million, representing a high single-digit multiple based on Strata's projected 2025 Adj. EBITDA. Founded in 1910, Strata is a vertically integrated construction materials provider with over 75 aggregates locations, 28 ready-mix plants, three asphalt plants, and extensive rail assets in North Dakota and northwestern Minnesota.

The acquisition, expected to close in first half 2025, will be financed through cash on hand and long-term debt issuance. Knife River expects the deal to be accretive to its Adj. EBITDA margin within the first year. Strata, which employs over 900 team members during peak season, will integrate into Knife River's Central Segment, expanding the company's service territory in a familiar region.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.67%
Tags
-
Rhea-AI Summary

Knife River (NYSE: KNF) has appointed Glenn R. Pladsen as Vice President and Chief Excellence Officer, effective January 1, 2025. Pladsen will lead core elements of the company's 'Competitive EDGE' strategy, focusing on EBITDA Margin Improvement, Discipline, Growth, and Excellence. In his current role as vice president of support services, Pladsen has been instrumental in launching Process Improvement Teams (PIT Crews) and the Knife River Training Center. The expanded role aims to achieve industry-leading safety performance and excellence across commercial and operational initiatives.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.55%
Tags
none
-
Rhea-AI Summary

NorthWestern Energy (Nasdaq: NWE) has elected David L. Goodin to its board of directors, effective December 1, 2024. Goodin brings over 40 years of utility industry experience from MDU Resources Group, where he served as president and CEO until January 2024. The appointment temporarily increases the board to ten members, returning to nine on January 1, 2025, following Tony Clark's planned resignation. Goodin's extensive background includes leadership roles at MDU's Utility Group, Cascade Natural Gas, and various industry boards including Edison Electric Institute and American Gas Association.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.42%
Tags
management
Rhea-AI Summary

MDU Resources Group announced a $3.1 billion capital investment plan for 2025-2029, representing a 15% increase from the previous 2024-2028 plan. The company will increase investments in electric and natural gas distribution segments by 47% compared to 2020-2024, focusing on infrastructure modernization and customer base growth of 1-2% annually. The combined rate base for electric and natural gas distribution is expected to grow 7-8% annually. Due to the expanded capital program, equity issuance is now anticipated in 2026, earlier than previously projected for 2027. The company maintains its long-term EPS growth target of 6-8%.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.42%
Tags
none
-
Rhea-AI Summary

MDU Resources Group has elected Vernon A. Dosch to its board of directors, effective Nov. 15, 2024. Dosch brings over 45 years of experience in the electric utility and broadband industries. As a former leader at National Information Solutions Cooperative (NISC), he guided the company's growth from start-up to a premier technology provider. His expertise includes electric distribution, generation and transmission, and utility-related technology. This appointment aligns with MDU Resources' focus as a pure-play regulated energy delivery business. Dosch holds degrees in business administration, accounting, and management from the University of Mary.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.52%
Tags
management
-
Rhea-AI Summary

MDU Resources Group (NYSE: MDU) has declared a quarterly dividend of $0.13 per share on its common stock, maintaining the same rate as the previous quarter. The dividend will be paid on January 1, 2025, to stockholders of record as of December 12, 2024. The board maintains its target for a long-term dividend payout ratio of 60% to 70% of regulated energy delivery earnings. MDU Resources, a member of the S&P SmallCap 600 index, provides essential products and services through regulated energy delivery businesses.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.03%
Tags
dividends
Rhea-AI Summary

MDU Resources reported strong Q3 2024 results with growth across utility, pipeline, and construction services. Electric earnings reached $24.3 million (+16.3% YoY), pipeline earnings hit $15.1 million (+27.0% YoY), and construction services earnings grew to $41.8 million (+16.1% YoY). The company increased its regulated energy delivery earnings guidance to $180-185 million. Following the successful spinoff of Everus Construction Group, MDU has completed its transformation into a pure-play regulated energy delivery business. Q3 adjusted income from continuing operations was $65.5 million, with adjusted EPS of $0.32.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.3%
Tags
-
Rhea-AI Summary

Knife River (NYSE: KNF) reported record third quarter results with revenue of $1.1 billion (+1% YoY), gross profit of $273 million (+1% YoY), and net income of $148.1 million (+1% YoY). The company announced six acquisitions totaling $129.3 million, focusing on aggregate reserves and construction materials. Geographic segments contributed record EBITDA of $224.6 million, up 6% year-over-year. The company narrowed its 2024 guidance, expecting revenue between $2.85-2.95 billion and adjusted EBITDA of $445-465 million.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.19%
Tags
-
Rhea-AI Summary

MDU Resources Group has completed the spinoff of its construction services subsidiary, Everus Construction Group, which is now trading independently on NYSE under ticker 'ECG'. The separation was executed through a pro rata distribution where MDU shareholders received one share of Everus stock for every four MDU shares held as of October 21, 2024. The distribution is expected to be tax-free for U.S. federal income tax purposes. This strategic move positions MDU Resources as a pure-play regulated energy delivery business, following the previous spinoff of Knife River

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-47.66%
Tags
none
Rhea-AI Summary

Everus Construction Group (NYSE: ECG) has completed its spinoff from MDU Resources Group (NYSE: MDU) and commenced trading on the NYSE. The separation was executed through a pro rata distribution where MDU stockholders received one share of ECG common stock for every four MDU shares held on October 21. Jeffrey S. Thiede, president and CEO, emphasized the company's position as a major specialty construction services provider, focusing on data center growth, grid modernization, and high-tech reshoring. The company aims to implement its 4EVER strategy and disciplined capital allocation initiatives as a standalone entity to drive profitable growth.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-47.66%
Tags
none

FAQ

What is the current stock price of MDU Resources Group (MDU)?

The current stock price of MDU Resources Group (MDU) is $17.93 as of January 6, 2025.

What is the market cap of MDU Resources Group (MDU)?

The market cap of MDU Resources Group (MDU) is approximately 3.7B.

What are the core businesses of MDU Resources Group, Inc.?

MDU Resources operates in five segments: Electric, Natural Gas Distribution, Pipeline, Construction Services, and Everus Construction Group.

What recent projects has MDU Resources Group, Inc. undertaken?

Recent projects include the Wahpeton Expansion project, which involves constructing a natural gas pipeline expansion in eastern North Dakota.

What is the significance of the planned spinoff of Everus Construction Group?

The spinoff aims to create two independent, publicly traded companies, allowing MDU Resources to focus on being a pure-play regulated energy delivery business.

What regions does MDU Resources serve?

MDU Resources serves customers in Montana, North Dakota, South Dakota, Wyoming, Idaho, Minnesota, Oregon, and Washington.

What is the historical background of MDU Resources Group, Inc.?

MDU Resources was founded in 1924 as a small electric utility serving rural communities in Montana and North Dakota. It has since grown into a multibillion-dollar corporation.

How does MDU Resources contribute to infrastructure development?

MDU Resources provides essential products and services that support energy and transportation infrastructure, including electricity, natural gas, and construction services.

What is the financial outlook for MDU Resources?

MDU Resources has a strong financial condition, with strategic investments in infrastructure projects and a focus on sustainable growth and shareholder value.

What is the status of the Heskett Unit IV project?

The Heskett Unit IV, an 88-megawatt natural gas-fired electric generating facility, is expected to be online in the second quarter.

How does MDU Resources ensure reliability in its services?

MDU Resources continually invests in modernizing its infrastructure and expanding its regulated pipeline system to provide reliable services to its customers.

Where can I find more information about MDU Resources?

For more information, visit www.mdu.com or contact the Investor Relations Department at investor@mduresources.com.
MDU Resources Group, Inc.

NYSE:MDU

MDU Rankings

MDU Stock Data

3.66B
202.37M
0.62%
76.36%
2.2%
Conglomerates
Mining & Quarrying of Nonmetallic Minerals (no Fuels)
Link
United States of America
BISMARCK