Black Hills (NYSE:BKH – Get Rating) issued its earnings results on Wednesday. The utilities provider reported $0.52 EPS for the quarter, topping the consensus estimate of $0.42 by $0.10, Fidelity Earnings reports. Black Hills had a return on equity of 9.22% and a net margin of 11.88%. During the same period in the previous year, the company earned $0.40 earnings per share. Black Hills updated its FY 2022 guidance to $3.95-$4.15 EPS and its FY22 guidance to $3.95-$4.15 EPS.
Black Hills Stock Performance
Shares of Black Hills stock traded down $0.63 during trading hours on Friday, reaching $74.40. The company had a trading volume of 412,512 shares, compared to its average volume of 299,771. The firm has a market cap of $4.82 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 2.95 and a beta of 0.49. Black Hills has a one year low of $61.95 and a one year high of $80.95. The business has a fifty day simple moving average of $72.95 and a 200 day simple moving average of $72.75. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.07 and a quick ratio of 0.93.
Black Hills Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Thursday, August 18th will be given a $0.595 dividend. This represents a $2.38 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date is Wednesday, August 17th. Black Hills’s dividend payout ratio is currently 57.35%.
Wall Street Analyst Weigh In
Insider Activity at Black Hills
In related news, Director Rebecca B. Roberts sold 500 shares of the business’s stock in a transaction dated Friday, May 20th. The stock was sold at an average price of $73.62, for a total transaction of $36,810.00. Following the transaction, the director now owns 6,445 shares in the company, valued at approximately $474,480.90. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.71% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Black Hills
Several hedge funds and other institutional investors have recently modified their holdings of BKH. Capital Research Global Investors bought a new position in shares of Black Hills in the 1st quarter valued at about $45,758,000. Gamco Investors INC. ET AL boosted its stake in Black Hills by 0.5% in the first quarter. Gamco Investors INC. ET AL now owns 202,491 shares of the utilities provider’s stock valued at $15,596,000 after acquiring an additional 1,000 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Black Hills by 2.9% during the first quarter. Advisors Asset Management Inc. now owns 10,002 shares of the utilities provider’s stock worth $770,000 after buying an additional 280 shares during the period. Mirabella Financial Services LLP acquired a new position in Black Hills during the first quarter valued at $445,000. Finally, Lido Advisors LLC acquired a new position in Black Hills during the first quarter valued at $423,000. 85.37% of the stock is currently owned by hedge funds and other institutional investors.
About Black Hills
Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. It operates in two segments, Electric Utilities and Gas Utilities. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 218,000 electric utility customers in Colorado, Montana, South Dakota, and Wyoming; and owns and operates 1,481.5 megawatts of generation capacity and 8,892 miles of electric transmission and distribution lines.
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