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.
MDU Resources announced a quarterly dividend of 12.5 cents per share, consistent with the previous quarter's dividend. The payout will occur on July 1, 2024, for shareholders on record as of June 13, 2024. This decision reflects the company's ongoing commitment to returning value to its shareholders.
On May 14, 2024, MDU Resources Group shareholders elected Douglas W. Jaeger as a new independent director to the company's board. With over 27 years of industry experience, Jaeger is currently the president and CEO of Ulteig and has held senior leadership roles at Adolfson & Peterson, Xcel Energy, and Exelon Corp. His expertise aligns with MDU's energy delivery and construction services businesses. Jaeger also serves on the boards of Ulteig, Amsoil, and Computype, along with the non-profit Great Plains Institute. He holds an MBA from the University of St. Thomas and a bachelor's degree from St. John's University.
MDU Resources Group, Inc. reported strong first-quarter results with record earnings across its utility, pipeline, and construction services businesses. Notably, the regulated pipeline business saw an 82% earnings increase, while the utility earnings were up by 4%. Everus reported an 8% increase in earnings with record EBITDA and backlog. The company affirmed its 2024 guidance, including regulated energy delivery earnings of $170-180 million and Everus revenues of $2.9-3.1 billion.
FAQ
What is the current stock price of MDU Resources Group (MDU)?
What is the market cap of MDU Resources Group (MDU)?
What are the core businesses of MDU Resources Group, Inc.?
What recent projects has MDU Resources Group, Inc. undertaken?
What is the significance of the planned spinoff of Everus Construction Group?
What regions does MDU Resources serve?
What is the historical background of MDU Resources Group, Inc.?
How does MDU Resources contribute to infrastructure development?
What is the financial outlook for MDU Resources?
What is the status of the Heskett Unit IV project?
How does MDU Resources ensure reliability in its services?
Where can I find more information about MDU Resources?
