MDU Resources Group, Inc.

WBI Energy Reaches Positive Final Investment Decision to Build Bakken East Pipeline

MDU Resources' board approved a positive Final Investment Decision for subsidiary WBI Energy to build the Bakken East Pipeline, a roughly 350-mile line with 1.4 Bcf per day initial capacity running from the Bakken to near Fargo. The project is estimated to cost between $2.7 and $3.2 billion, with construction across 2028-2030 and in-service in two phases targeted for late 2029 and late 2030. The decision is underpinned by secured customer commitments, including a unanimous August 2025 North Dakota Industrial Commission commitment of $50 million per year for 10 years; the company is evaluating debt and equity financing, including potential partnerships, which could introduce dilution or partnership-sourced returns.

•25d ago

MDU Resources Announces Increased Quarterly Dividend

MDU Resources raised its quarterly dividend to 14.5 cents per share, a 3.6% increase from the previous rate, for an annualized payout of 56 cents. The board adjusted its long-term payout ratio target to 55%–65% of earnings, down from 60%–70%, to prioritize funding for utility and pipeline capital investments. The dividend is payable October 1, 2026, to shareholders of record on September 10, 2026.

•2mo ago

MDU: 10-Q · periodic report

MDU Resources' Q2 2026 net income rose 54% year over year to $21.2 million, with diluted EPS of $0.10 versus $0.07, as revenue grew 6.9% to $375.3 million. The electric segment led with $14.7 million of earnings on new Montana and Wyoming rates and the Badger Wind Farm, while natural gas distribution narrowed its seasonal loss by $3.5 million on new rates in Idaho, Washington, Montana and Wyoming. The filing showcases a growing data-center franchise: a June 2026 electric service agreement supporting 430 MW of high-performance-computing load near Center, North Dakota, on top of Applied Digital's Ellendale campus (180 MW at full capacity, about 21% of MDU's generation portfolio, plus 350 MW of approved incremental load). A proposed Bakken East Pipeline, backed by roughly 1.2 Bcf/d of firm commitments including up to $50 million a year for 10 years from the State of North Dakota, could add $2.7-3.2 billion of investment beyond the current $2.5 billion five-year utility capex plan. Offsets include Q2 interest expense up about 24% to $31.5 million on higher debt, six-month operating cash flow down to $265.3 million from $334.9 million, and a share count up roughly 3% year over year after ATM sales and forward settlements — with $370 million of ATM capacity and 7.4 million unsettled forward shares (~$139.6 million) still outstanding.

SEC 10-Q•2mo ago

MDU Resources Reports Second Quarter 2026 Results; Advances Infrastructure Growth Opportunities

MDU Resources reported Q2 net income of $21.3 million, up 55.5% year-over-year, with EPS rising 42.9% to $0.10 driven by rate increases, customer growth, and contributions from Badger Wind Farm. The company reaffirmed full-year 2026 EPS guidance of $0.93 to $1.00 and highlighted progress on the Bakken East Pipeline, which now has agreements for 1.2 Bcf/d of capacity. Regulatory momentum continued with rate case filings in Washington and North Dakota, including a service agreement for a 430 MW data center AI factory.

•2mo ago

Montana-Dakota Utilities Announces Electric Service Agreement with Applied Digital for Proposed AI Factory

Montana-Dakota Utilities, a subsidiary of MDU Resources, entered into an electric service agreement with Applied Digital to power Polaris Forge 3, a proposed 430MW AI Factory in North Dakota. The facility is backed by a previously announced 15-year lease with a U.S. hyperscaler, with initial operations anticipated to commence in August 2027. This agreement expands Applied Digital's footprint in North Dakota, building on its existing Polaris Forge 1 site, though regulatory approval from the North Dakota Public Service Commission is still required.

•4mo ago