Black Hills (NYSE:BKH) Releases Quarterly Earnings Results, Beats Estimates By $0.11 EPS

Black Hills (NYSE:BKHGet Free Report) announced its quarterly earnings data on Thursday. The utilities provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.11, Briefing.com reports. Black Hills had a return on equity of 8.15% and a net margin of 11.25%. The company had revenue of $591.70 million for the quarter, compared to the consensus estimate of $863.67 million. During the same period in the previous year, the business earned $1.11 EPS.

Black Hills Stock Performance

Shares of BKH stock traded up $0.37 during trading on Friday, hitting $51.62. The company’s stock had a trading volume of 781,375 shares, compared to its average volume of 651,079. The business has a fifty day moving average of $53.13 and a 200-day moving average of $53.08. Black Hills has a 52 week low of $46.43 and a 52 week high of $66.85. The company has a market cap of $3.51 billion, a PE ratio of 13.17 and a beta of 0.65. The company has a current ratio of 0.77, a quick ratio of 0.67 and a debt-to-equity ratio of 1.17.

Black Hills Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 16th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This is a positive change from Black Hills’s previous quarterly dividend of $0.63. This represents a $2.60 annualized dividend and a dividend yield of 5.04%. Black Hills’s dividend payout ratio is currently 63.78%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BKH. Royal Bank of Canada dropped their price target on Black Hills from $61.00 to $57.00 and set a “sector perform” rating on the stock in a research note on Friday. Mizuho raised Black Hills from an “underperform” rating to a “neutral” rating and set a $53.00 price objective for the company in a research note on Tuesday, November 21st. Scotiabank increased their price objective on Black Hills from $57.00 to $58.00 and gave the stock a “sector perform” rating in a research note on Friday. Finally, Bank of America lowered their price objective on Black Hills from $60.00 to $49.00 and set an “underperform” rating for the company in a research note on Monday, November 20th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $55.80.

Check Out Our Latest Stock Report on BKH

Hedge Funds Weigh In On Black Hills

Several institutional investors and hedge funds have recently bought and sold shares of the company. American Century Companies Inc. bought a new position in Black Hills during the third quarter valued at $333,000. Deutsche Bank AG grew its holdings in Black Hills by 11.2% during the third quarter. Deutsche Bank AG now owns 28,804 shares of the utilities provider’s stock valued at $1,457,000 after purchasing an additional 2,892 shares during the period. Walleye Trading LLC bought a new position in Black Hills during the third quarter valued at $555,000. Creative Planning grew its holdings in Black Hills by 25.3% during the third quarter. Creative Planning now owns 13,518 shares of the utilities provider’s stock valued at $684,000 after purchasing an additional 2,727 shares during the period. Finally, Sei Investments Co. grew its holdings in Black Hills by 18.5% during the third quarter. Sei Investments Co. now owns 20,126 shares of the utilities provider’s stock valued at $1,018,000 after purchasing an additional 3,145 shares during the period. 86.64% of the stock is owned by institutional investors.

Black Hills Company Profile

(Get Free Report)

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 220,000 electric utility customers in Colorado, Montana, South Dakota, and Wyoming; and owns and operates 1,482 megawatts of generation capacity and 9,024 miles of electric transmission and distribution lines.

See Also

Earnings History for Black Hills (NYSE:BKH)

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