Black Hills Co. (NYSE:BKH) to Issue Quarterly Dividend of $0.65

Black Hills Co. (NYSE:BKHGet Free Report) announced a quarterly dividend on Monday, April 22nd, Zacks reports. Stockholders of record on Friday, May 17th will be given a dividend of 0.65 per share by the utilities provider on Saturday, June 1st. This represents a $2.60 annualized dividend and a dividend yield of 4.59%. The ex-dividend date of this dividend is Thursday, May 16th.

Black Hills has raised its dividend by an average of 4.8% per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Black Hills has a dividend payout ratio of 63.1% indicating that its dividend is sufficiently covered by earnings.

Black Hills Stock Performance

Black Hills stock opened at $56.63 on Wednesday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.73 and a quick ratio of 0.61. The firm has a market capitalization of $3.90 billion, a P/E ratio of 13.95 and a beta of 0.64. Black Hills has a 1-year low of $46.43 and a 1-year high of $65.83. The company’s 50-day moving average is $53.92 and its 200 day moving average is $52.84.

Black Hills (NYSE:BKHGet Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The utilities provider reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.17. Black Hills had a return on equity of 8.37% and a net margin of 12.92%. The firm had revenue of $726.40 million for the quarter, compared to the consensus estimate of $683.00 million. During the same period in the prior year, the business posted $1.73 earnings per share. The company’s revenue for the quarter was down 21.1% on a year-over-year basis. Research analysts forecast that Black Hills will post 3.9 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on BKH shares. Wells Fargo & Company raised their target price on shares of Black Hills from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Friday, May 10th. Royal Bank of Canada decreased their target price on Black Hills from $61.00 to $57.00 and set a “sector perform” rating for the company in a research report on Friday, February 9th. Scotiabank dropped their price target on Black Hills from $58.00 to $54.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. Finally, StockNews.com upgraded Black Hills from a “sell” rating to a “hold” rating in a report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $54.80.

Read Our Latest Research Report on Black Hills

About Black Hills

(Get Free Report)

Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. The company operates in two segments: Electric Utilities and Gas Utilities. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 222,000 electric utility customers in Colorado, Montana, South Dakota, and Wyoming; and owns and operates 1,394 megawatts of generation capacity and 9,106 miles of electric transmission and distribution lines.

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Dividend History for Black Hills (NYSE:BKH)

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