Black Hills Corporation (NYSE:BKH – Get Free Report) hit a new 52-week high during mid-day trading on Thursday. The stock traded as high as $87.77 and last traded at $87.0750, with a volume of 25,116 shares trading hands. The stock had previously closed at $86.96.
Wall Street Analysts Forecast Growth
A number of research firms have commented on BKH. Wall Street Zen upgraded shares of Black Hills from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Black Hills in a research note on Thursday, October 22nd. BMO Capital Markets boosted their target price on Black Hills from $83.00 to $86.00 and gave the stock an “outperform” rating in a report on Thursday, October 8th. Scotiabank upped their price target on Black Hills from $84.00 to $95.00 and gave the company a “sector outperform” rating in a research report on Friday, November 6th. Finally, Bank of America upped their price target on Black Hills from $87.00 to $97.00 and gave the company a “buy” rating in a research report on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $85.00.
Read Our Latest Research Report on BKH
Black Hills Stock Up 1.1%
The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.34 and a current ratio of 0.47. The business has a 50 day simple moving average of $75.96 and a 200-day simple moving average of $73.84. The firm has a market capitalization of $6.73 billion, a price-to-earnings ratio of 21.13, a P/E/G ratio of 3.45 and a beta of 0.64.
Black Hills (NYSE:BKH – Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The utilities provider reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.10. The firm had revenue of $466.10 million for the quarter, compared to analysts’ expectations of $483.04 million. Black Hills had a net margin of 13.49% and a return on equity of 8.17%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 EPS. On average, equities analysts expect that Black Hills Corporation will post 4.34 EPS for the current year.
Black Hills Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 17th will be paid a dividend of $0.7030 per share. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $2.81 dividend on an annualized basis and a yield of 3.2%. Black Hills’s payout ratio is 67.55%.
Hedge Funds Weigh In On Black Hills
Institutional investors and hedge funds have recently bought and sold shares of the company. Clearstead Trust LLC purchased a new stake in shares of Black Hills in the 2nd quarter valued at approximately $34,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Black Hills during the 2nd quarter worth approximately $34,000. GK Wealth Management LLC acquired a new stake in shares of Black Hills during the 3rd quarter worth approximately $44,000. Pathway Financial Advisers LLC purchased a new stake in shares of Black Hills during the 3rd quarter valued at approximately $45,000. Finally, Global Retirement Partners LLC purchased a new stake in shares of Black Hills during the 2nd quarter valued at approximately $56,000. 86.71% of the stock is currently owned by institutional investors and hedge funds.
Black Hills Company Profile
Black Hills Corporation is an energy company headquartered in Rapid City, South Dakota. Through its utility operations, it provides electric and natural gas service to communities across Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming. The company’s businesses include generating, transmitting and distributing electricity, as well as distributing natural gas. Its energy operations use a mix of resources, including natural gas, coal and renewable sources, to support electric service.
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