Black Hills (NYSE:BKH) Trading 0.3% Higher

Black Hills Corp (NYSE:BKH) shares traded up 0.3% on Friday . The company traded as high as $78.44 and last traded at $77.95. 2,204 shares were traded during trading, a decline of 99% from the average session volume of 313,148 shares. The stock had previously closed at $77.70.

A number of equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Black Hills from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a research note on Monday, May 13th. Williams Capital restated a “hold” rating on shares of Black Hills in a report on Monday, March 18th. Scotiabank upgraded shares of Black Hills from an “underperform” rating to a “sector perform” rating and boosted their price objective for the company from $64.00 to $70.00 in a report on Wednesday, May 8th. Finally, Credit Suisse Group set a $72.00 price objective on shares of Black Hills and gave the company a “hold” rating in a report on Tuesday, March 5th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $68.71.

The firm has a market cap of $4.69 billion, a PE ratio of 22.07, a P/E/G ratio of 4.68 and a beta of 0.36. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.67 and a current ratio of 0.82.

Black Hills (NYSE:BKH) last issued its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $1.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.58 by $0.15. The firm had revenue of $597.80 million during the quarter, compared to analysts’ expectations of $581.85 million. Black Hills had a net margin of 12.91% and a return on equity of 9.97%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.63 earnings per share. As a group, equities research analysts forecast that Black Hills Corp will post 3.48 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Friday, May 17th were issued a dividend of $0.505 per share. This represents a $2.02 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date was Thursday, May 16th. Black Hills’s dividend payout ratio is currently 57.06%.

In other news, SVP Brian Iverson sold 6,469 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $77.89, for a total value of $503,870.41. Following the completion of the transaction, the senior vice president now owns 26,108 shares in the company, valued at $2,033,552.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman David R. Emery sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $76.16, for a total transaction of $571,200.00. Following the completion of the transaction, the chairman now owns 182,806 shares of the company’s stock, valued at approximately $13,922,504.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,969 shares of company stock valued at $2,150,120. Corporate insiders own 1.00% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in BKH. JPMorgan Chase & Co. boosted its holdings in shares of Black Hills by 25.3% in the third quarter. JPMorgan Chase & Co. now owns 59,787 shares of the utilities provider’s stock valued at $3,473,000 after buying an additional 12,081 shares during the period. Advisors Asset Management Inc. lifted its position in shares of Black Hills by 36.9% in the fourth quarter. Advisors Asset Management Inc. now owns 13,007 shares of the utilities provider’s stock worth $817,000 after purchasing an additional 3,504 shares in the last quarter. Crossmark Global Holdings Inc. lifted its position in shares of Black Hills by 36.9% in the fourth quarter. Crossmark Global Holdings Inc. now owns 7,119 shares of the utilities provider’s stock worth $447,000 after purchasing an additional 1,920 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of Black Hills by 6.0% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 16,045 shares of the utilities provider’s stock worth $1,007,000 after purchasing an additional 909 shares in the last quarter. Finally, Dupont Capital Management Corp bought a new stake in shares of Black Hills in the fourth quarter worth $327,000. Institutional investors own 87.11% of the company’s stock.

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Black Hills Company Profile (NYSE:BKH)

Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. It operates through Electric Utilities, Gas Utilities, Power Generation, and Mining segments. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 212,000 electric customers in Colorado, Montana, South Dakota, and Wyoming, as well as provides electrical system construction services to large industrial customers.

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