Black Hills (NYSE:BKH) Reaches New 1-Year High at $61.96

Black Hills Co. (NYSE:BKH) hit a new 52-week high during trading on Tuesday . The stock traded as high as $61.96 and last traded at $61.65, with a volume of 106160 shares traded. The stock had previously closed at $61.53.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BKH. Mizuho increased their price target on shares of Black Hills from $53.00 to $57.00 and gave the company a “neutral” rating in a report on Tuesday, June 4th. Scotiabank increased their target price on shares of Black Hills from $54.00 to $63.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Finally, Wells Fargo & Company lifted their price target on shares of Black Hills from $61.00 to $64.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $58.00.

Black Hills Stock Down 0.5 %

The firm has a market capitalization of $4.22 billion, a PE ratio of 15.10 and a beta of 0.68. The firm’s 50-day moving average is $58.73 and its 200 day moving average is $55.83. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.94 and a current ratio of 1.06.

Black Hills (NYSE:BKH) last announced its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.04. Black Hills had a net margin of 12.96% and a return on equity of 8.21%. The company had revenue of $402.60 million for the quarter, compared to the consensus estimate of $498.00 million. During the same quarter in the prior year, the firm earned $0.35 earnings per share. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, research analysts forecast that Black Hills Co. will post 3.92 earnings per share for the current fiscal year.

Black Hills Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Monday, August 19th were issued a $0.65 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.25%. Black Hills’s dividend payout ratio (DPR) is 64.04%.

Institutional Trading of Black Hills

Large investors have recently made changes to their positions in the stock. Rise Advisors LLC purchased a new position in Black Hills in the 1st quarter valued at about $31,000. Pathway Financial Advisers LLC purchased a new stake in shares of Black Hills in the first quarter valued at $31,000. Sunbelt Securities Inc. purchased a new stake in Black Hills in the 1st quarter valued at about $33,000. Riverview Trust Co purchased a new position in shares of Black Hills during the 1st quarter worth about $38,000. Finally, Hexagon Capital Partners LLC boosted its position in shares of Black Hills by 77.2% in the first quarter. Hexagon Capital Partners LLC now owns 732 shares of the utilities provider’s stock worth $40,000 after acquiring an additional 319 shares during the last quarter. Institutional investors and hedge funds own 86.71% of the company’s stock.

Black Hills Company Profile

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.