Argus looking for more favorable entry point in MDU Resources

Argus keeps a Hold rating on MDU Resources but notes that the firm is looking for a more favorable entry point on the stock. The company is strengthening operations in its utility segment through acquisitions and expansion projects, which should result in more consistent performance over time, and also offers a solid balance sheet and a secure dividend with a yield of about 2.6%, the analyst tells investors in a research note. MDU Resources shares are suitable for investors seeking income, the firm added.