Black Hills (NYSE:BKH) CFO Kimberly Nooney Sells 14,500 Shares of Stock

Black Hills Corporation (NYSE:BKH) CFO Kimberly Nooney sold 14,500 shares of the stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $70.70, for a total value of $1,025,150.00. Following the completion of the transaction, the chief financial officer directly owned 34,621 shares in the company, valued at approximately $2,447,704.70. This trade represents a 29.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Black Hills Stock Performance

BKH stock opened at $72.10 on Thursday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.64 and a quick ratio of 0.49. The business has a 50-day moving average price of $62.35 and a 200 day moving average price of $59.74. Black Hills Corporation has a 1-year low of $54.92 and a 1-year high of $72.22. The company has a market capitalization of $5.25 billion, a P/E ratio of 18.16, a PEG ratio of 2.95 and a beta of 0.76.

Black Hills (NYSE:BKH) last posted its quarterly earnings data on Wednesday, November 5th. The utilities provider reported $0.45 EPS for the quarter, hitting the consensus estimate of $0.45. Black Hills had a net margin of 12.68% and a return on equity of 7.81%. The firm had revenue of $430.20 million during the quarter, compared to analyst estimates of $439.96 million. During the same quarter in the previous year, the business posted $0.35 EPS. Black Hills’s revenue was up 7.1% on a year-over-year basis. Black Hills has set its FY 2025 guidance at 4.000-4.20 EPS. As a group, equities research analysts forecast that Black Hills Corporation will post 4.12 EPS for the current fiscal year.

Black Hills Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be given a dividend of $0.676 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $2.70 dividend on an annualized basis and a yield of 3.8%. Black Hills’s payout ratio is currently 68.18%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Scotiabank raised Black Hills from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $66.00 to $81.00 in a report on Friday, November 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Black Hills in a research note on Wednesday, October 8th. Finally, Bank of America upgraded shares of Black Hills from an “underperform” rating to a “neutral” rating and raised their price target for the company from $57.00 to $64.00 in a research report on Wednesday, August 20th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Black Hills currently has an average rating of “Moderate Buy” and an average price target of $71.00.

Institutional Investors Weigh In On Black Hills

A number of hedge funds have recently modified their holdings of the business. IMA Advisory Services Inc. acquired a new position in Black Hills during the first quarter worth $30,000. Clearstead Trust LLC acquired a new stake in Black Hills during the first quarter worth about $30,000. Spire Wealth Management raised its stake in Black Hills by 4,115.4% during the second quarter. Spire Wealth Management now owns 548 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 535 shares during the period. TD Waterhouse Canada Inc. acquired a new position in Black Hills in the 2nd quarter valued at about $31,000. Finally, Smartleaf Asset Management LLC grew its position in Black Hills by 132.3% in the third quarter. Smartleaf Asset Management LLC now owns 576 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 328 shares during the period. 86.71% of the stock is currently owned by institutional investors and hedge funds.

About Black Hills

Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. The company operates in two segments: Electric Utilities and Gas Utilities. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 222,000 electric utility customers in Colorado, Montana, South Dakota, and Wyoming; and owns and operates 1,394 megawatts of generation capacity and 9,106 miles of electric transmission and distribution lines.