BISMARCK, N.D. - MDU Resources Group, Inc. (NYSE: MDU), a provider of essential products and services in energy delivery and construction, announced the election of Douglas W. Jaeger to its board of directors at the company's annual stockholders' meeting held today.
With more than 27 years of experience in the electric utility and construction services industries, Jaeger brings a wealth of knowledge to the board. Currently serving as president and CEO of the engineering services firm Ulteig, Inc., he has a background that aligns with MDU Resources' core businesses. His previous leadership roles include positions at Adolfson & Peterson, Inc., Xcel Energy Inc (NASDAQ:XEL)., and Exelon Corp (NASDAQ:EXC).
Board Chair Dennis W. Johnson expressed confidence in Jaeger's ability to contribute to the board, citing his relevant industry experience and leadership skills. Jaeger's election is seen as a move to enhance the board's collective expertise, particularly in areas related to utility transmission and generation.
Jaeger, who also holds positions on the boards of several other companies and non-profits, expressed his enthusiasm for joining MDU Resources and his intent to support the company's progress.
The new director holds an MBA from the University of St. Thomas and a bachelor's degree in business administration from St. John's University and resides in Anoka, Minnesota.
MDU Resources Group, Inc., founded in 1924 and celebrating its 100th anniversary, is part of the S&P MidCap 400 index. The company emphasizes that statements made by its chair and Jaeger regarding future expectations are forward-looking and that actual results could differ materially due to various risk factors.
InvestingPro Insights
As MDU Resources Group, Inc. (NYSE: MDU) welcomes Douglas W. Jaeger to its board of directors, the company's financial health and market performance remain key considerations for investors. With a market capitalization of $5.11 billion, MDU Resources is positioned as a significant player in the energy and construction sectors. The company's commitment to shareholder returns is evident through its high shareholder yield, a testament to its financial management strategies.
An analysis of MDU's stock reveals a promising outlook for value investors. Currently trading at a low P/E ratio of 10.67, the company is attracting attention for its potential relative to near-term earnings growth. Additionally, the stock's low earnings multiple suggests that it may be undervalued, presenting a potential opportunity for investors seeking growth at a reasonable price.
Investors may also take comfort in the company's stability, as MDU Resources has a history of low price volatility, which can be appealing in uncertain market conditions. Moreover, with a solid track record of maintaining dividend payments for 54 consecutive years, MDU demonstrates a strong commitment to returning value to its shareholders.
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InvestingPro Data also highlights the company's recent performance, with a strong return over the last three months of 22.5%, and an impressive six-month price total return of 36.3%. These figures underscore the company's robust market presence and may signal confidence in its future trajectory, especially as analysts predict MDU will remain profitable this year.
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