Black Hills Corporation (NYSE:BKH) Short Interest Update

Black Hills Corporation (NYSE:BKH) was the target of a significant growth in short interest in January. As of January 15th, there was short interest totaling 6,542,982 shares, a growth of 35.1% from the December 31st total of 4,841,733 shares. Currently, 9.0% of the shares of the stock are short sold. Based on an average daily volume of 958,239 shares, the short-interest ratio is presently 6.8 days. Based on an average daily volume of 958,239 shares, the short-interest ratio is presently 6.8 days. Currently, 9.0% of the shares of the stock are short sold.

Black Hills Trading Up 0.2%

Shares of NYSE BKH traded up $0.14 during mid-day trading on Friday, reaching $72.95. 1,663,626 shares of the company’s stock were exchanged, compared to its average volume of 913,257. The firm has a market capitalization of $5.31 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 3.20 and a beta of 0.75. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.67 and a current ratio of 0.91. Black Hills has a 52-week low of $54.92 and a 52-week high of $74.23. The company’s 50-day moving average is $71.15 and its 200-day moving average is $64.98.

Black Hills (NYSE:BKH) last issued its quarterly earnings data on Thursday, November 6th. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.45. The firm had revenue of $430.20 million for the quarter, compared to analyst estimates of $439.96 million. Black Hills had a net margin of 12.54% and a return on equity of 7.86%. Black Hills’s revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.35 EPS. Analysts expect that Black Hills will post 4.12 EPS for the current fiscal year.

Black Hills Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Tuesday, February 17th will be issued a $0.703 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $2.81 annualized dividend and a dividend yield of 3.9%. This is an increase from Black Hills’s previous quarterly dividend of $0.68. Black Hills’s dividend payout ratio (DPR) is currently 68.18%.

Analyst Ratings Changes

BKH has been the subject of several analyst reports. BMO Capital Markets upped their target price on Black Hills from $70.00 to $82.00 and gave the company an “outperform” rating in a report on Tuesday, January 27th. Weiss Ratings reissued a “buy (b-)” rating on shares of Black Hills in a research report on Monday, December 29th. Finally, Scotiabank upgraded shares of Black Hills from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $66.00 to $81.00 in a research report on Friday, November 7th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Black Hills has an average rating of “Moderate Buy” and a consensus target price of $75.67.

Insider Activity at Black Hills

In related news, CFO Kimberly F. Nooney sold 14,500 shares of the stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $70.70, for a total value of $1,025,150.00. Following the completion of the sale, the chief financial officer owned 34,621 shares of the company’s stock, valued at approximately $2,447,704.70. This trade represents a 29.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.63% of the company’s stock.

Institutional Trading of Black Hills

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Turning Point Benefit Group Inc. grew its stake in shares of Black Hills by 2,655.1% in the fourth quarter. Turning Point Benefit Group Inc. now owns 2,452 shares of the utilities provider’s stock valued at $170,000 after buying an additional 2,363 shares in the last quarter. AMG National Trust Bank increased its stake in Black Hills by 1.0% during the fourth quarter. AMG National Trust Bank now owns 43,856 shares of the utilities provider’s stock worth $3,044,000 after purchasing an additional 418 shares during the period. M&T Bank Corp lifted its position in shares of Black Hills by 20.7% during the fourth quarter. M&T Bank Corp now owns 5,126 shares of the utilities provider’s stock worth $356,000 after purchasing an additional 878 shares in the last quarter. Comerica Bank grew its holdings in shares of Black Hills by 1.7% in the fourth quarter. Comerica Bank now owns 32,842 shares of the utilities provider’s stock valued at $2,280,000 after purchasing an additional 547 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its holdings in shares of Black Hills by 49.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 11,020 shares of the utilities provider’s stock valued at $765,000 after purchasing an additional 3,644 shares in the last quarter. Hedge funds and other institutional investors own 86.71% of the company’s stock.

About Black Hills

Black Hills Corporation is a diversified energy company based in Rapid City, South Dakota, that provides electricity and natural gas distribution services to residential, commercial and industrial customers. Through its regulated utility subsidiaries—Black Hills Power, Cheyenne Light & Power, and Black Hills Energy—the company delivers reliable energy across Colorado, Kansas, Montana, Nebraska, South Dakota and Wyoming.

In addition to its distribution operations, Black Hills owns and operates a generation portfolio that includes natural gas–fired plants, coal-fired units, hydroelectric facilities and wind projects.