Black Hills Corp (NYSE:BKH) shares saw unusually-high trading volume on Friday . Approximately 1,428,464 shares changed hands during trading, an increase of 253% from the previous session’s volume of 404,140 shares.The stock last traded at $73.02 and had previously closed at $72.69.
BKH has been the topic of several research reports. ValuEngine raised Black Hills from a “hold” rating to a “buy” rating in a research note on Tuesday, November 20th. Credit Suisse Group upped their price target on Black Hills from $65.00 to $69.00 and gave the company an “outperform” rating in a research note on Tuesday, December 4th. Zacks Investment Research lowered Black Hills from a “buy” rating to a “hold” rating in a research note on Tuesday, December 11th. Scotiabank lowered Black Hills from a “sector perform” rating to a “sell” rating in a research note on Wednesday, December 12th. Finally, Williams Capital lowered Black Hills from a “buy” rating to a “hold” rating and set a $64.00 price target on the stock. in a research note on Wednesday, February 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. Black Hills presently has a consensus rating of “Hold” and a consensus price target of $65.43.
The company has a quick ratio of 0.60, a current ratio of 0.78 and a debt-to-equity ratio of 1.29. The company has a market cap of $4.38 billion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 4.57 and a beta of 0.45.
Black Hills (NYSE:BKH) last released its earnings results on Thursday, February 7th. The utilities provider reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.13. Black Hills had a return on equity of 9.75% and a net margin of 14.73%. The firm had revenue of $501.20 million for the quarter, compared to analyst estimates of $466.97 million. During the same quarter in the prior year, the firm posted $0.98 earnings per share. The company’s quarterly revenue was up 10.1% on a year-over-year basis. Equities research analysts predict that Black Hills Corp will post 3.43 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 15th were paid a $0.505 dividend. This represents a $2.02 annualized dividend and a yield of 2.77%. The ex-dividend date was Thursday, February 14th. Black Hills’s payout ratio is 57.06%.
In other Black Hills news, insider David R. Emery sold 2,143 shares of the stock in a transaction dated Wednesday, February 13th. The stock was sold at an average price of $70.14, for a total value of $150,310.02. Following the transaction, the insider now owns 205,306 shares of the company’s stock, valued at $14,400,162.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.10% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in BKH. Russell Investments Group Ltd. raised its position in shares of Black Hills by 2.9% during the third quarter. Russell Investments Group Ltd. now owns 46,513 shares of the utilities provider’s stock worth $2,702,000 after purchasing an additional 1,293 shares during the period. Bessemer Group Inc. raised its position in shares of Black Hills by 20.9% during the third quarter. Bessemer Group Inc. now owns 5,200 shares of the utilities provider’s stock worth $302,000 after purchasing an additional 900 shares during the period. Systematic Financial Management LP acquired a new stake in shares of Black Hills during the third quarter worth about $1,367,000. SG Americas Securities LLC raised its position in shares of Black Hills by 57.4% during the third quarter. SG Americas Securities LLC now owns 30,888 shares of the utilities provider’s stock worth $1,794,000 after purchasing an additional 11,261 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Black Hills by 25.3% during the third quarter. JPMorgan Chase & Co. now owns 59,787 shares of the utilities provider’s stock worth $3,473,000 after purchasing an additional 12,081 shares during the period. 87.55% of the stock is currently owned by hedge funds and other institutional investors.
Black Hills Company Profile (NYSE:BKH)
Black Hills Corporation, through its subsidiaries, operates as a vertically-integrated utility company in the United States. The company's Electric Utilities segment generates, transmits, and distributes electricity to approximately 210,000 electric customers in South Dakota, Wyoming, Colorado, and Montana.
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