Black Hills Corp (NYSE:BKH) was the target of a significant drop in short interest in November. As of November 15th, there was short interest totalling 1,995,588 shares, a drop of 53.1% from the October 31st total of 4,257,816 shares. Currently, 3.8% of the company’s stock are short sold. Based on an average daily volume of 510,842 shares, the short-interest ratio is presently 3.9 days.
Shares of BKH stock opened at $67.07 on Friday. The firm has a market capitalization of $4.07 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 4.38 and a beta of 0.32. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 1.54. Black Hills has a one year low of $50.49 and a one year high of $68.23.
Black Hills (NYSE:BKH) last announced its quarterly earnings results on Monday, November 5th. The utilities provider reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.08). The firm had revenue of $322.00 million during the quarter, compared to analyst estimates of $357.72 million. Black Hills had a net margin of 13.44% and a return on equity of 9.98%. The business’s revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.50 EPS. As a group, equities research analysts predict that Black Hills will post 3.41 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Saturday, December 1st. Shareholders of record on Monday, November 19th were paid a $0.505 dividend. The ex-dividend date was Friday, November 16th. This represents a $2.02 dividend on an annualized basis and a yield of 3.01%. This is a boost from Black Hills’s previous quarterly dividend of $0.48. Black Hills’s dividend payout ratio (DPR) is currently 60.12%.
Hedge funds have recently made changes to their positions in the business. Raymond James & Associates lifted its stake in Black Hills by 4,403.9% in the second quarter. Raymond James & Associates now owns 330,856 shares of the utilities provider’s stock valued at $20,252,000 after acquiring an additional 323,510 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Black Hills by 44.8% during the 2nd quarter. Bank of America Corp DE now owns 608,202 shares of the utilities provider’s stock worth $37,228,000 after buying an additional 188,316 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Black Hills by 6,031.5% during the 2nd quarter. Sei Investments Co. now owns 133,421 shares of the utilities provider’s stock worth $8,166,000 after buying an additional 131,245 shares during the last quarter. WealthPLAN Partners LLC acquired a new stake in shares of Black Hills during the 2nd quarter worth about $2,064,000. Finally, Moody Aldrich Partners LLC lifted its stake in shares of Black Hills by 19.0% during the 3rd quarter. Moody Aldrich Partners LLC now owns 42,990 shares of the utilities provider’s stock worth $2,497,000 after buying an additional 6,870 shares during the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.
A number of research analysts recently weighed in on BKH shares. ValuEngine raised shares of Black Hills from a “sell” rating to a “hold” rating in a research report on Monday, October 8th. Credit Suisse Group raised their target price on shares of Black Hills from $65.00 to $69.00 and gave the company an “outperform” rating in a research report on Tuesday. Zacks Investment Research raised shares of Black Hills from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a research report on Wednesday, October 10th. Finally, Wells Fargo & Co raised their target price on shares of Black Hills from $62.00 to $64.00 and gave the company a “market perform” rating in a research report on Monday, September 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. Black Hills presently has an average rating of “Hold” and an average target price of $62.14.
Black Hills Company Profile
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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