MDU Resources Group Inc logo

MDU Resources Group Inc(MDU)

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ADVISORIES YOU CAN VERIFY
QUALITY SIGNAL
2-STAR RATING
PASS
LAST CLOSE
$18.64
09/24/2026
(24-hour delay)

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*as per simulation (see disclosures)
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Upturn Advisory & Investor View for MDU

09/24/2026: MDU (2-star) is currently NOT-A-BUY. Pass it for now.

MDU Resources Group is a focused, regulated utility company providing essential electricity and natural gas services in the Northern Plains and Pacific Northwest. Following a significant strategic simplification, including the spin-off of its construction materials subsidiary and the divestiture of its construction services business, the company now operates as a pure-play utility. Its main strength lies in stable, regulated revenue streams backed by essential service demand. The primary growth opportunity involves capital investment in grid modernization. While the stock appeals to dividend-seeking and defensive investors, key risks include regulatory rate outcomes and sensitivity to interest rates. Investors should monitor rate case decisions and infrastructure execution.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Investor Fit

Investor styleFitWhy
Growth investorWeak fitAs a regulated utility, the company offers modest, stable growth rather than high-growth potential.
Momentum investorMixed fitMomentum fit is conditional on a positive, sustained price upturn signal.
Value investorStrong fitThe company's focus on utility assets often appeals to value-oriented investors seeking stable, tangible assets.
Dividend investorStrong fitThe company has a longstanding history of providing consistent dividend income.
Low-risk investorStrong fitRegulated utilities typically exhibit lower volatility and defensive characteristics during market downturns.

Risk Profile

Risk factorLevelWhy it matters
Price volatilityLowUtilities are generally less sensitive to market-wide volatility than growth stocks.
Valuation riskMediumUtility stocks can be sensitive to interest rate changes that affect the attractiveness of dividend yields.
Competition risk (Regional Utility)LowRegulated utilities operate as natural monopolies in their specific service areas.
Business qualityMedium / highThe business benefits from regulated, predictable cash flows and essential service demand.
Dividend incomeMediumDividend sustainability depends on regulatory approvals for rate base increases.
Execution riskMediumCapital expenditure projects for infrastructure must be executed on time and budget to earn regulated returns.

Price Behavior

Rolling Over
PRICE PATH

Rolling Over

The price momentum is slowing down and beginning to turn downward.

Very Smooth
PRICE STABILITY

Very Smooth

The stock has followed a highly orderly price path with minimal short-term disruption.

Analysis of Past Performance

Type Stock
Historic Profit 38.08%
Avg. Invested days 41
Today’s Advisory PASS
Upturn Advisory Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 2.0
Stock Returns Performance Upturn Returns Performance icon 3.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 09/24/2026

Upturn Scorecard

Upturn Star Rating

★★★★★
MDU receives a 3-star rating, supported by solid analyst coverage. The rating is constrained by soft unit economics, and weak price momentum.

Company Fundamentals

★★★★★
MDU has moderate overall fundamentals (3 stars), with moderate financial health, soft growth momentum, and solid ownership. In FY2025 versus FY2024, solid profitability (net margin 10.2%) is partially offset by negative earnings growth (-32.3%), soft cash generation (FCF margin -17.0%), moderate revenue growth (+6.7%).

Financial Health Rating

★★★★★
MDU's financial health is supported by moderate efficiency, including operating-expense and cost-of-revenue discipline (opex 6.1% of revenue). Liquidity is soft (2 stars), which helps explain the 3-star overall score.

Growth Momentum Score

★★★★★
Revenue growth is MDU's strongest growth driver at +6.7% FY2025 versus FY2024 (moderate, 3 stars). By comparison, while earnings growth (-32.3%, negative) and free-cash-flow growth (-1453.7%, negative) hold the profile back, so recent growth is not broad-based across the business.

Ownership

★★★★★
Institutional ownership is 94.3% and approximately 99.4% of outstanding shares are publicly tradable, supporting liquidity and institutional participation. Insider ownership is only 0.45%, which materially reduces the ownership score.

Top 5 Institutional Investors

BlackRock Inc 12.22%
Barrow Hanley Mewhinney & Strauss LLC 6.21%
Vanguard Portfolio Management, LLC 5.96%
Dimensional Fund Advisors, Inc. 4.96%
Earnest Partners LLC 4.70%

Unit Economics (Per $1K Revenue)

★★★★★
MDU generates approximately $216 of gross profit, $155 of operating income, and $-170 of free cash flow for every $1,000 of revenue. Based on FY2025 results. Strong cash conversion and healthy margins support the rating, although capital efficiency remains below the highest tier.

Economic Dimensions

★★★★★
Effective Tax Rate: 9.29%

Quantitative Style Profile

★★★★★
MDU has a liquid, relatively low-volatility profile. Weak momentum is the primary drawback.

Style Classification

Quality Focused

Value-OrientedLow VolatilitySmall / Mid Cap RiskShort Squeeze RiskHighly Liquid / Institution-Friendly

Key Highlights

Company Size Mid-Cap Stock
Market Capitalization 3.92B USD
Price to earnings Ratio 19.83
1Y Target Price 23.62
Price to earnings Ratio 19.83
1Y Target Price 23.62
Volume (30-day avg) 1.7M shares
Beta 0.38
52 Weeks Range 16.91 - 22.66
Updated Date 09/24/2026
52 Weeks Range 16.91 - 22.66
Updated Date 09/24/2026
Dividends yield (FY) 3.05%
Basic EPS (TTM) 0.94

How Company Makes Money

Business areaWhat it includesRetail investor read
Regulated Electric UtilityGeneration, transmission, and distribution of electricity to residential and commercial customers.Steady income generated from providing essential electric service.
Regulated Natural Gas UtilityTransportation and distribution of natural gas to customers.Stable revenue based on regulated natural gas delivery.

Analyzing Revenue: Products, Geography and Growth

Revenue by Products

Product revenue - Year on Year

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Valuation

Trailing PE 19.83
Forward PE 17.33
Enterprise Value 6.43B
Price to Sales(TTM) 2.14
Enterprise Value 6.43B
Price to Sales(TTM) 2.14
Enterprise Value to Revenue 3.52
Enterprise Value to EBITDA 11.79
Shares Outstanding 210.35M
Shares Floating 209.16M
Shares Outstanding 210.35M
Shares Floating 209.16M
Percent Insiders 0.45
Percent Institutions 94.31

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Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

About MDU Resources Group Inc

Exchange NYSE
Headquarters Bismarck, ND, United States
IPO Launch date 1987-11-05
President, CEO & Director Ms. Nicole A. Kivisto
Sector Utilities
Industry Utilities - Regulated Gas
Full time employees 2096
Full time employees 2096

MDU Resources Group, Inc. engages in the regulated energy delivery businesses in the United States. The company operates through three segments: Electric, Natural Gas Distribution, and Pipeline. It generates, transmits, and distributes electricity in Montana, North Dakota, South Dakota, and Wyoming through approximately 3,400 miles of transmission and 4,900 miles of distribution lines, as well as 86 transmission and 299 distribution substations. The company also distributes natural gas in Idaho, Minnesota, Montana, North Dakota, Oregon, South Dakota, Washington, and Wyoming through approximately 22,000 miles of distribution and 540 miles transmission systems; and supplies related value-added services. In addition, it provides natural gas transportation and underground storage services through a regulated pipeline system primarily in the Rocky Mountain and northern Great Plains regions; and cathodic protection non-regulated energy-related services. Further, the company offers transportation and storage services. MDU Resources Group, Inc. was incorporated in 1924 and is headquartered in Bismarck, North Dakota.