MDU RESOURCES GROUP, INC.
In the published model solve dated 2026-Q2, anchored at $20.01, MDU RESOURCES GROUP, INC. (MDU) is priced for +3.9% growth. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 24, 2026 from SEC EDGAR filings.
• Roughly three quarters of last quarter's revenue came from piping regulated natural gas to homes and businesses, which makes winter weather, not the economy, the swing factor in any given quarter. • The balance sheet carries $2.54 billion of net debt against earnings that cover the interest bill about 2.7 times, which is the constraint on how a proposed multi-billion-dollar gas pipeline gets funded. • A Section 7 application for that pipeline is targeted for the third quarter of 2026 and a f
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406 institutional managers reported holding MDU in 13F filings for the quarter ended 2026-03-31. Together they hold about 92% of the company; the top 10 hold 53%. 47 opened new positions that quarter. Held by BlackRock, Vanguard Group, Dimensional Fund Advisors, among others. On the short side, 11.3M shares were sold short as of the 2026-06-15 count, about 5% of shares outstanding (8.3 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
MDU has cut its share count 61.2% over the past five years, spending $12.21M on repurchases. It pays a dividend, and has paid one every year in our records (18 and counting); the current rate is $0.54 a share annually. Cash returned over the past three years: $310.56M in dividends.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at MDU over the trailing three years: 2024: 2 buys totaling $932k; 2025: 3 buys totaling $661k; 2026: 1 buy totaling $104k. 18 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
MDU's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-04 | -5.6% | -9.0% |
| 2023-11-03 | +2.4% | +2.4% |
| 2024-02-23 | +0.9% | +15.7% |
| 2024-05-03 | +0.7% | -2.0% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
MDU's latest 8-K filings: 2026-08-06 (items 2.02, 7.01, 9.01); 2026-05-13 (items 5.02, 5.05, 5.07, 9.01); 2026-05-07 (items 2.02, 7.01, 9.01); 2026-02-05 (items 2.02, 7.01, 9.01); 2026-01-16 (items 1.01, 2.03, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 24, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.