The MDU Resources Group (MDU)
Delivers regulated electricity and natural gas while operating WBI Energy's pipeline and storage network.
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Electric, Natural Gas Distribution, and Pipeline deliver electricity, retail gas service, and WBI Energy transportation and storage. The retained company focuses on energy delivery after separating its construction businesses.
Electric and Natural Gas Distribution serve customers through the Montana-Dakota, Great Plains Natural Gas, Cascade Natural Gas, and Intermountain Gas utilities. The Pipeline segment, led by WBI Energy, provides regulated natural-gas transportation, underground storage, cathodic protection, and related energy services.
WBI Energy's pipeline operations are concentrated in the northern Great Plains and Rocky Mountain regions, while utility companies serve customers across multiple states. The business delivers energy through wires and pipelines, rather than the separated construction operations.
Rate regulation shapes the utility and pipeline operations that deliver energy to customers in multiple states.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 6, 2026 | JP Morgan | Upgrade | ||
| Jul 13, 2026 | Wells Fargo | Initiate | Rating: —Target: — | Target: $25 |
| Feb 24, 2026 | Loop Capital Markets | Target | Target: — | Target: $21 |
| Oct 22, 2025 | Jefferies | Reiterate | Rating: —Target: — | Target: $22 |
| Sep 19, 2025 | Jefferies | Upgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $46.3M · Total debt $2.58B · Total assets $7.71B · Shareholders' equity $2.93B
- Revenue
- $375.2M
- Operating income
- $47.9M
- Net income
- $21.3M
HistoryDividendAnnual yield
| Institutions | 93.35% | 196.37M shares | |
|---|---|---|---|
| 439 holders · as of Jun 30, 2026 | |||
| Insiders | 0.76% | 1.61M shares | |
| 17 holders · as of Jul 1, 2026 | |||
| Other | 5.89% | 12.37M shares | |
| remainder | |||
210.35M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 13.00% | 27.35M | as of Jun 30, 2026 |
Barrow Hanley Mewhinney & Strauss LLCInstitution | 6.21% | 13.06M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 6.03% | 12.69M | as of Jun 30, 2026 |
Dimensional Fund Advisors LPInstitution | 4.96% | 10.44M | as of Jun 30, 2026 |
Earnest Partners LLCInstitution | 4.62% | 9.73M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Feb 13, 2026 | Charles M. Kelley | director | +5,000 | $20.85 |
- Black Hills
Northern-Plains electric-and-gas utility peer
- NorthWestern Energy
Montana and South Dakota electric-and-gas utility peer
- Xcel Energy
Large electric-and-gas utility across North Dakota and South Dakota
- NW Natural
Oregon and southwest Washington natural-gas utility peer
- TC Energy
Northern Border Pipeline co-owner in northern-Plains gas transport
CompareAfter hours
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| The MDU Resources Group | $18.56 | −0.03% | $3.88B | 19.5 | 18.3 | 2.1 | +6.8% |
| Black Hills | $71.77 | −0.03% | $5.48B | 18.2 | 15.4 | 2.4 | +3.1% |
| NorthWestern Energy | $69.87 | −0.04% | $4.30B | 25.2 | 18.7 | 2.5 | +14.6% |
| Xcel Energy | $81.91 | +13.67% | $44.88B | 19.6 | 17.0 | 3.1 | −5.1% |
| NW Natural | $47.78 | −0.02% | $2.02B | 15.7 | 14.9 | 1.6 | +3.1% |
| TC Energy | $59.78 | −0.07% | $62.96B | 25.4 | 23.9 | 5.5 | +40.3% |
| Median | 19.6 | 17.0 | 2.5 | +3.1% |