mduresources.com
MDU Resources Group, Inc. is a regulated energy delivery company serving more than 1.2 million electric and natural gas utility customers across eight states through subsidiaries including Montana-Dakota Utilities, Cascade Natural Gas, and WBI Energy, operating 3,800 miles of regulated natural gas transmission pipeline.
- Company typePublic
- Founded1924
- HeadquartersBismarck, United States
- Headcount—
- GTM typeB2B and B2C
- OfferingServices
What mduresources.com does
MDU Resources Group, Inc. is a publicly traded (NYSE: MDU) regulated energy delivery holding company headquartered in Bismarck, North Dakota, founded in 1924 and listed on the NYSE since 1948. The company operates regulated electric and natural gas utility services across eight states in the Pacific Northwest and Midwest — Montana, North Dakota, South Dakota, Wyoming, Minnesota, Oregon, Washington, and Idaho — serving more than 1.2 million customers through wholly-owned subsidiaries including Montana-Dakota Utilities, Cascade Natural Gas, Great Plains Natural Gas, and Intermountain Gas Company. Its pipeline transportation business, WBI Energy, owns approximately 3,800 miles of regulated natural gas transmission pipelines with 2.6 billion cubic feet per day of capacity, 14 interconnections with other pipelines, and the largest natural gas storage field in North America.
The company's core technology is physical energy infrastructure — generation, transmission and distribution systems for electricity, natural gas distribution networks, and regulated interstate gas pipelines with underground storage. MDU's revenue model is built on regulated, recurring, rate-based utility tariffs approved by state utility commissions and federal pipeline regulators; it does not depend on transactional sales or merchant commodity exposure. Customer acquisition occurs automatically through franchise territories rather than outbound sales. Residential customers form the largest base, complemented by commercial and industrial accounts; WBI Energy additionally serves gas producers, marketers, and end-users on its pipeline system.
Following the 2023 spinoff of Knife River Corporation (NYSE: KNF) and the 2024 spinoff of Everus Construction Group (NYSE: ECG), MDU Resources has refocused as a pure-play regulated utility. The company has paid uninterrupted dividends since 1937 and has raised its dividend for 32 consecutive years, reflecting the predictability of regulated utility cash flows. Its 100-year operating history, S&P MidCap 400 membership, and presence on the Fortune 500 underscore its institutional scale and capital market standing.
mduresources.com firmographics
Firmographics- Name
- mduresources.com
- Legal name
- MDU Resources Group, Inc.
- Website
- https://mduresources.com
- Company type
- Public
- Founded year
- 1924
- Operating status
- Operating
- Short description
- MDU Resources Group, Inc. is a regulated energy delivery company serving more than 1.2 million electric and natural gas utility customers across eight states through subsidiaries including Montana-Dakota Utilities, Cascade Natural Gas, and WBI Energy, operating 3,800 miles of regulated natural gas transmission pipeline.
- Ownership category
- akta.pro rank
mduresources.com industry classification
Industry- Product category
- Regulated Electric and Natural Gas Utility Services
- NAICS
- Natural Gas Distribution (221210), Natural Gas Distribution (2212), Pipeline Transportation of Natural Gas (48621)
- SIC
- Natural Gas Transmisison & Distribution (4923), Natural Gas Transmission (4922)
- akta.pro primary industry
- Local Distribution Company (LDC) Natural Gas Distribution Utilities (TLAGADAA)
- akta.pro secondary industry
- Midstream Commercial Services (Capacity Marketing, Balancing & Scheduling) (EUAAACAL)
Keywords
Where mduresources.com is headquartered
LocationHeadquarters
- HQ city
- Bismarck
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
mduresources.com business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Infrastructure, Operations, Personnel, Technology or R&D, Marketing or Sales
Revenue model
- Electric Utility Services: Generation, transmission and distribution of electricity to customers in Montana, North Dakota, South Dakota and Wyoming through Montana-Dakota Utilities Co.
- Natural Gas Distribution: Distribution of natural gas to residential, commercial and industrial customers through multiple subsidiaries: Cascade Natural Gas (Oregon/Washington), Great Plains Natural Gas (Minnesota/North Dakota), Intermountain Gas Company (Idaho), and Montana-Dakota Utilities (Montana/North Dakota/South Dakota/Wyoming).
- Pipeline Transportation Services: Natural gas transportation and underground storage services through WBI Energy's approximately 3,800 miles of pipeline with capacity to transport 2.6 billion cubic feet of natural gas per day.
Go-to-market motion1 record
Distribution channels5 records
Marketing channels4 records
mduresources.com product offering
Product offeringCore offering
MDU Resources Group is a regulated energy delivery holding company that provides electric generation, transmission, and distribution services and natural gas distribution services to residential, commercial, and industrial customers across eight states. Through its four utility subsidiaries (Montana-Dakota Utilities, Cascade Natural Gas, Great Plains Natural Gas, and Intermountain Gas) and its WBI Energy pipeline segment, the company serves over 1.2 million customers and owns 3,800 miles of pipeline with 2.6 billion cubic feet per day of capacity, including the largest natural gas storage field in North America.
Product overview
MDU Resources provides essential products and services through its regulated energy delivery businesses. The company operates a portfolio of utility subsidiaries including electric and natural gas distribution across eight states: Cascade Natural Gas (Oregon/Washington), Great Plains Natural Gas (Minnesota/North Dakota), Intermountain Gas (Idaho), and Montana-Dakota Utilities (Montana/North Dakota/South Dakota/Wyoming). The company also operates WBI Energy, which provides natural gas transportation through approximately 3,800 miles of regulated pipelines and owns the largest natural gas storage field in North America. MDU Resources has spun off its former construction materials (Knife River Corporation) and construction services (Everus Construction Group) subsidiaries. The company serves more than 1.2 million utility customers with combined pipeline capacity of 2.6 billion cubic feet of natural gas per day.
Differentiator
Problem solved
Functional benefit
Quantifiable outcome
- Served more than 1.2 million customers with electricity and natural gas utility services
- +3 more outcomes
Companies that use mduresources.com
Customer profileNamed customers4 records
Segments3 records
Ideal customer profiles3 records
mduresources.com technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
Feature2 records
mduresources.com partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core and minor.
- OSHA Electrical Transmission & Distribution PartnershipcoreMDU Construction Services Group is a founding member of the OSHA Electrical Transmission & Distribution Partnership, a formal collaboration of industry stakeholders working together to improve safety for workers in the electric line construction industry. The partnership began in 2004.
- Ford Motor CompanyminorMDU Resources has a national Ford account enabling faster acquisition of Ford F-150 Lightning Pro electric pickups for its fleet through OEG, part of the MDU Resources family of companies.
- Liberty Mutual InsurancecoreLiberty Mutual provides workers compensation, general liability and auto liability coverages for many MDU Resources operations. Liberty Mutual also recognizes MDU Resources companies with annual safety awards.
Scale indicators7 records
Recent moves11 records
Expansion highlights5 records
mduresources.com competitors and assessment
Company assessmentDirect peers
- ONE Gas, Inc. Pure-play natural gas local distribution company serving Oklahoma, Kansas, and Texas with more than 2 million customers. ONE Gas is the closest direct comparable to MDU's four LDC subsidiaries given its regulated distribution-only business model and similar rate-regulated revenue structure.
- Northwest Natural Holding Company: Natural gas LDC serving Oregon, Washington, and Idaho through its NW Natural subsidiary, with additional gas storage assets. Directly comparable to MDU's Cascade Natural Gas and Intermountain Gas Company given overlapping Pacific Northwest service territory and similar LDC plus storage business model.
- Black Hills Corporation: Vertically integrated electric and natural gas utility serving customers across South Dakota, Montana, Wyoming, Colorado, Nebraska, Kansas, Oklahoma, Iowa, and Arkansas. Comparable to MDU given similar electric/gas multi-utility mix and overlapping Rocky Mountain and Plains state footprint.
- Avista Corporation: Electric and natural gas utility serving customers in eastern Washington, northern Idaho, and parts of Oregon. Directly comparable to MDU's Pacific Northwest utility operations (Cascade, Intermountain, Montana-Dakota) with a similar electric-plus-gas combination.
- Southwest Gas Holdings, Inc. Natural gas LDC serving Arizona, Nevada, and California through Southwest Gas Corporation. Comparable to MDU's LDC subsidiaries given the regulated distribution-only business model and similar customer-type mix (residential, commercial, industrial).
- MGE Energy, Inc. Holding company for Madison Gas and Electric Company serving electric and natural gas customers in Wisconsin. Comparable as a small-cap electric/gas multi-utility with regulated operations and overlapping Midwest geographic exposure to MDU.
- Spire Inc. Natural gas distribution utility serving Missouri, Alabama, and Mississippi through Spire Missouri, Spire Alabama, and Spire STL Pipeline. Directly comparable to MDU's LDC business given pure-play regulated gas distribution model with pipeline transportation and storage assets.
Broad incumbents
- Atmos Energy Corporation: Largest pure-play natural gas distributor in the U.S., serving more than 3 million customers across Texas, Kentucky, Louisiana, Mississippi, Tennessee, Virginia, and Colorado. Comparable to MDU as a much larger pure-play LDC peer with similar business model but greater geographic scale.
- Xcel Energy Inc. Large multi-utility serving electric and natural gas customers across eight western and midwestern states including Minnesota, Wisconsin, North Dakota, South Dakota, Colorado, and Texas. Comparable to MDU given overlapping Midwest/Rocky Mountain service territory and similar electric-plus-gas portfolio mix, though at materially larger scale.
- Kinder Morgan, Inc. One of the largest energy infrastructure companies in North America, operating approximately 70,000 miles of natural gas pipelines and significant natural gas storage assets. Comparable to MDU's WBI Energy subsidiary given overlap in regulated natural gas transmission and storage, though at vastly greater scale and geographic reach.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
mduresources.com social profiles
Digital presencemduresources.com financial estimates
Financial estimateRevenue estimate
Valuation estimate
mduresources.com leadership team
Management profileNumber of profiles
Profiles10 records
mduresources.com subsidiaries and ownership
Company hierarchySubsidiaries7 records
mduresources.com funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
mduresources.com M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about mduresources.com
What does mduresources.com do?
MDU Resources Group is a regulated energy delivery holding company that provides electric generation, transmission, and distribution services and natural gas distribution services to residential, commercial, and industrial customers across eight states. Through its four utility subsidiaries (Montana-Dakota Utilities, Cascade Natural Gas, Great Plains Natural Gas, and Intermountain Gas) and its WBI Energy pipeline segment, the company serves over 1.2 million customers and owns 3,800 miles of pipeline with 2.6 billion cubic feet per day of capacity, including the largest natural gas storage field in North America.
Is mduresources.com a public or private company?
mduresources.com is a public company. It is classified as public and is currently operating.
When was mduresources.com founded?
mduresources.com was founded in 1924.
Where is mduresources.com based?
mduresources.com is headquartered in Bismarck, United States, in the North America region.
How does mduresources.com make money?
Three revenue lines are on record. Electric Utility Services are the primary driver. The others are natural Gas Distribution and pipeline Transportation Services.
Who are mduresources.com's main competitors?
Direct peers on record are ONE Gas, Inc., Northwest Natural Holding Company, Black Hills Corporation, Avista Corporation, Southwest Gas Holdings, Inc., MGE Energy, Inc. and Spire Inc.. Broad incumbents are Atmos Energy Corporation, Xcel Energy Inc. and Kinder Morgan, Inc..
Does mduresources.com have an API?
No public API is recorded for mduresources.com.
What industry is mduresources.com in?
mduresources.com's product category is Regulated Electric and Natural Gas Utility Services. Its primary akta.pro industry code is TLAGADAA, Local Distribution Company (LDC) Natural Gas Distribution Utilities, with a secondary code of EUAAACAL, Midstream Commercial Services (Capacity Marketing, Balancing & Scheduling). Its NAICS code is 221210 and its SIC code is 4923.