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MDU Resources Group Inc (MDU)



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Upturn Advisory Summary
07/09/2025: MDU (4-star) is currently NOT-A-BUY. Pass it for now.
1 Year Target Price $19.25
1 Year Target Price $19.25
3 | Strong Buy |
0 | Buy |
2 | Hold |
0 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 30.9% | Avg. Invested days 50 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 3.38B USD | Price to earnings Ratio 17.98 | 1Y Target Price 19.25 |
Price to earnings Ratio 17.98 | 1Y Target Price 19.25 | ||
Volume (30-day avg) 5 | Beta 0.45 | 52 Weeks Range 12.87 - 19.94 | Updated Date 07/9/2025 |
52 Weeks Range 12.87 - 19.94 | Updated Date 07/9/2025 | ||
Dividends yield (FY) 3.12% | Basic EPS (TTM) 0.92 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 14.21% | Operating Margin (TTM) 16.9% |
Management Effectiveness
Return on Assets (TTM) 2.42% | Return on Equity (TTM) 6.6% |
Valuation
Trailing PE 17.98 | Forward PE 16.89 | Enterprise Value 5481079564 | Price to Sales(TTM) 1.83 |
Enterprise Value 5481079564 | Price to Sales(TTM) 1.83 | ||
Enterprise Value to Revenue 2.97 | Enterprise Value to EBITDA 10.58 | Shares Outstanding 204331008 | Shares Floating 201777030 |
Shares Outstanding 204331008 | Shares Floating 201777030 | ||
Percent Insiders 0.94 | Percent Institutions 82.85 |
Upturn AI SWOT
MDU Resources Group Inc

Company Overview
History and Background
MDU Resources Group, Inc. was founded in 1924 as Montana-Dakota Utilities Co. Initially providing energy services, it has diversified into construction materials and services.
Core Business Areas
- Utilities: Provides electric and natural gas service to customers in Montana, North Dakota, South Dakota, Wyoming, and other states. This segment is the bedrock of the companyu2019s regulated operations.
- Construction Materials and Contracting: Produces aggregates, asphalt mix, and ready-mix concrete. Also provides construction services including road construction, paving, and infrastructure projects.
- Construction Services: Provides electrical and mechanical contracting services, primarily in the western and central United States. Includes services like transmission line construction, substation work, and industrial plant maintenance.
Leadership and Structure
The company is led by President and CEO Nicole A. Kivisto. The organizational structure is divided along its core business segments, each headed by senior management.
Top Products and Market Share
Key Offerings
- Electricity Distribution: Distributes electricity to residential, commercial, and industrial customers. Market share varies by region; direct revenue attributed to electricity distribution is not publicly itemized, but it's a significant portion of the Utilities revenue. Competitors include local municipal utilities and other investor-owned utilities in its service territories, such as Xcel Energy (XEL) and Black Hills Corp (BKH).
- Aggregates: Supply sand, gravel, and crushed stone used in construction and infrastructure projects. Competitors include Martin Marietta Materials (MLM) and Vulcan Materials Company (VMC). Market share varies by region.
- Natural Gas Distribution: Distributes natural gas to residential, commercial, and industrial customers. Competitors are often the same as with electricity. The natural gas distribution market is competitive and highly regulated. MDU does not explicitly release its market share for natural gas distribution.
Market Dynamics
Industry Overview
The utility industry is undergoing modernization with investments in renewable energy, smart grids, and infrastructure upgrades. The construction materials industry is driven by infrastructure spending, housing starts, and non-residential construction. The construction services segment is fueled by infrastructure improvements and energy-related projects.
Positioning
MDU Resources is a diversified infrastructure company with a strong regional presence in the Upper Midwest and Mountain West. It benefits from both regulated utility operations and cyclical construction-related businesses. Its competitive advantages include a diverse revenue stream and operational expertise in its chosen markets.
Total Addressable Market (TAM)
The combined TAM for Utilities and Construction Materials/Services is estimated to be in the hundreds of billions annually in the US. MDU Resources is positioned to capture a portion of this TAM through infrastructure upgrades, population growth in their service areas, and efficient operations.
Upturn SWOT Analysis
Strengths
- Diversified business model
- Regulated utility operations providing stable cash flow
- Strong regional presence
- Experience and expertise in construction materials and services
Weaknesses
- Exposure to commodity price fluctuations (natural gas)
- Dependence on regulatory approvals
- Cyclicality of construction-related businesses
- Geographic concentration
Opportunities
- Infrastructure spending initiatives
- Growth in renewable energy demand
- Population growth in service territories
- Acquisitions to expand geographic reach and service offerings
Threats
- Changes in regulatory environment
- Economic downturn affecting construction activity
- Increased competition
- Environmental regulations
Competitors and Market Share
Key Competitors
- XEL
- BKH
- MLM
- VMC
Competitive Landscape
MDU Resources competes with larger utilities and construction materials companies. Its diversified business model and regional focus give it a competitive advantage in its core markets. Larger competitors have greater scale and resources.
Major Acquisitions
Knife River Corporation
- Year: 2023
- Acquisition Price (USD millions): 0
- Strategic Rationale: Spun Off construction business. Focused on Utility business.
Growth Trajectory and Initiatives
Historical Growth: Discuss MDU Resources Group Inc's growth trends over the past years.
Future Projections: Provide projections for MDU Resources Group Inc's future growth based on analyst estimates.
Recent Initiatives: Highlight recent strategic initiatives undertaken by MDU Resources Group Inc.
Summary
MDU Resources is a diversified infrastructure company with stable utility operations and cyclical construction businesses. The company benefits from its regional focus and diversified revenue streams. Economic downturns and regulatory changes pose potential risks. Overall, MDU Resources presents a mixed profile with both strengths and weaknesses.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company filings, investor presentations, market research reports
- Yahoo Finance
- Bloomberg
Disclaimers:
This analysis is for informational purposes only and should not be considered financial advice. Market data is subject to change and may not be perfectly accurate. Consult with a qualified financial advisor before making any investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About MDU Resources Group Inc
Exchange NYSE | Headquaters Bismarck, ND, United States | ||
IPO Launch date 1987-11-05 | President, CEO & Director Ms. Nicole A. Kivisto | ||
Sector Industrials | Industry Conglomerates | Full time employees 2052 | Website https://www.mdu.com |
Full time employees 2052 | Website https://www.mdu.com |
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. The company also distributes natural gas in Idaho, Minnesota, Montana, North Dakota, Oregon, South Dakota, Washington, and Wyoming; 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.

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