Can MDU's Capital Investments Drive Long-Term Earnings Growth?

MDU Resources plans nearly $3.1 billion in capital investments through 2030 across electric, gas, and pipeline projects, expecting 1-2% annual customer growth and 6-8% long-term earnings growth. The company has over 1 GW of data center load under signed agreements. Similar utility companies like ONE Gas and Southwest Gas Holdings are also increasing capital spending to support rate-base growth and earnings expansion.