Black Hills (NYSE:BKH) Announces Earnings Results

Black Hills (NYSE:BKH) posted its quarterly earnings data on Wednesday. The utilities provider reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.10, FiscalAI reports. Black Hills had a return on equity of 7.98% and a net margin of 13.01%. The company had revenue of $466.10 million during the quarter, compared to analysts’ expectations of $483.04 million.

Black Hills Trading Up 2.4%

Black Hills stock traded up $1.94 during mid-day trading on Wednesday, hitting $84.14. The stock had a trading volume of 2,564,333 shares, compared to its average volume of 1,014,875. The stock has a 50-day simple moving average of $74.42 and a two-hundred day simple moving average of $73.44. The company has a current ratio of 0.52, a quick ratio of 0.41 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $6.42 billion, a PE ratio of 21.25, a P/E/G ratio of 3.27 and a beta of 0.64. Black Hills has a 12 month low of $64.34 and a 12 month high of $85.35.

Black Hills Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 17th will be given a $0.7030 dividend. This represents a $2.81 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Tuesday, November 17th. Black Hills’s dividend payout ratio (DPR) is presently 70.96%.

Analyst Upgrades and Downgrades

BKH has been the subject of a number of analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Black Hills in a research note on Thursday, October 22nd. Bank of America boosted their target price on shares of Black Hills from $87.00 to $97.00 and gave the company a “buy” rating in a research note on Monday, September 21st. BMO Capital Markets lifted their price target on shares of Black Hills from $83.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday, October 8th. Wall Street Zen upgraded shares of Black Hills from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Jefferies Financial Group began coverage on shares of Black Hills in a report on Wednesday, October 14th. They set a “buy” rating and a $87.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $83.25.

Black Hills Company Profile

Black Hills Corporation (NYSE:BKH) is an energy company headquartered in Rapid City, South Dakota. Through its Black Hills Energy businesses, the company provides regulated electric and natural gas utility services to residential, commercial and industrial customers.

Black Hills operates electric utilities and natural gas distribution systems across parts of Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming. Its activities include generating and purchasing electricity, transmitting and distributing power, distributing natural gas, and developing and maintaining the infrastructure needed to serve its utility customers.

The company traces its history to the Black Hills region and has expanded through the development and acquisition of utility operations in the central and western United States.