Black Hills Corporation (BKH) To Go Ex-Dividend on November 16th
Black Hills Corporation (NYSE:BKH) announced a quarterly dividend on Wednesday, November 1st, NASDAQ reports. Stockholders of record on Friday, November 17th will be given a dividend of 0.475 per share by the utilities provider on Friday, December 1st. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend is Thursday, November 16th. This is a positive change from Black Hills Corporation’s previous quarterly dividend of $0.45.
Black Hills Corporation has raised its dividend payment by an average of 3.4% annually over the last three years and has increased its dividend annually for the last 47 consecutive years. Black Hills Corporation has a dividend payout ratio of 56.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Black Hills Corporation to earn $3.45 per share next year, which means the company should continue to be able to cover its $1.90 annual dividend with an expected future payout ratio of 55.1%.
Shares of Black Hills Corporation (BKH) traded down $0.61 during mid-day trading on Friday, hitting $57.59. The stock had a trading volume of 554,900 shares, compared to its average volume of 346,861. Black Hills Corporation has a twelve month low of $56.75 and a twelve month high of $72.02. The company has a quick ratio of 0.59, a current ratio of 0.69 and a debt-to-equity ratio of 1.73. The stock has a market capitalization of $3,112.80, a P/E ratio of 17.17, a price-to-earnings-growth ratio of 3.12 and a beta of 0.78.
Black Hills Corporation (NYSE:BKH) last issued its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.05). Black Hills Corporation had a net margin of 8.47% and a return on equity of 10.47%. The business had revenue of $342.10 million for the quarter, compared to analysts’ expectations of $369.84 million. During the same quarter in the prior year, the firm posted $0.48 EPS. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. analysts anticipate that Black Hills Corporation will post 3.35 EPS for the current fiscal year.
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Several brokerages recently issued reports on BKH. Royal Bank Of Canada restated a “buy” rating and set a $70.00 price target on shares of Black Hills Corporation in a research note on Monday, July 31st. Zacks Investment Research lowered Black Hills Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. Credit Suisse Group boosted their price target on Black Hills Corporation from $75.00 to $77.00 and gave the company an “outperform” rating in a research note on Monday, October 2nd. Williams Capital lowered Black Hills Corporation from a “buy” rating to a “hold” rating and lowered their price target for the company from $75.00 to $70.00 in a research note on Friday, October 6th. Finally, J P Morgan Chase & Co upped their price objective on Black Hills Corporation from $76.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, October 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $68.75.
Black Hills Corporation Company Profile
Black Hills Corporation is a holding company. The Company is an integrated energy company, which is focused primarily on regulated utilities. The Company operates through segments, including Electric Utilities, Gas Utilities, Power Generation, Mining, Oil and Gas, and Corporate. As of December 31, 2016, the Electric Utilities segment generated, transmitted and distributed electricity to approximately 208,500 customers in South Dakota, Wyoming, Colorado and Montana.
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