Black Hills Stock Earnings Estimates Lifted by Scotiabank

Black Hills Corporation (NYSE:BKH) – Equities researchers at Scotiabank boosted their FY2027 EPS estimates for shares of Black Hills in a note issued to investors on Wednesday, November 11th. Scotiabank analyst A. Weisel now expects that the utilities provider will post earnings of $4.77 per share for the year, up from their previous forecast of $4.58. Scotiabank has a “Sector Outperform” rating and a $95.00 price target on the stock. The consensus estimate for Black Hills’ current full-year earnings is $4.34 per share.

Several other research firms have also recently commented on BKH. Weiss Ratings reiterated a “buy (b)” rating on shares of Black Hills in a research note on Thursday, October 22nd. Jefferies Financial Group began coverage on Black Hills in a research note on Wednesday, October 14th. They set a “buy” rating and a $87.00 price objective for the company. Bank of America lifted their price objective on Black Hills from $87.00 to $97.00 and gave the stock a “buy” rating in a report on Monday, September 21st. Wall Street Zen upgraded Black Hills from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Freedom Broker lowered Black Hills from a “buy” rating to a “hold” rating and set a $78.00 target price on the stock. in a research report on Thursday, November 5th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $85.00.

Black Hills Stock Up 0.5%

Shares of NYSE BKH opened at $87.43 on Friday. Black Hills has a 1 year low of $67.25 and a 1 year high of $88.37. The firm has a market cap of $6.69 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 3.45 and a beta of 0.64. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.34 and a current ratio of 0.47. The stock’s 50-day simple moving average is $76.26 and its 200-day simple moving average is $73.91.

Black Hills (NYSE:BKH) last issued its quarterly earnings data on Wednesday, November 4th. The utilities provider reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. The firm had revenue of $466.10 million for the quarter, compared to analyst estimates of $483.04 million. Black Hills had a net margin of 13.49% and a return on equity of 8.17%. The firm’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.45 EPS.

Hedge Funds Weigh In On Black Hills

Several large investors have recently added to or reduced their stakes in BKH. Clearstead Trust LLC bought a new stake in Black Hills during the second quarter valued at $34,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Black Hills during the 2nd quarter valued at about $34,000. GK Wealth Management LLC bought a new stake in shares of Black Hills during the 3rd quarter valued at about $44,000. Pathway Financial Advisers LLC acquired a new stake in Black Hills during the third quarter worth about $45,000. Finally, Global Retirement Partners LLC acquired a new stake in Black Hills during the second quarter worth about $56,000. 86.71% of the stock is currently owned by institutional investors.

Black Hills Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, November 17th will be given a dividend of $0.7030 per share. This represents a $2.81 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Tuesday, November 17th. Black Hills’s dividend payout ratio is currently 67.55%.

About Black Hills

Black Hills Corporation is an energy company headquartered in Rapid City, South Dakota. Through its utility operations, it provides electric and natural gas service to communities across Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming. The company’s businesses include generating, transmitting and distributing electricity, as well as distributing natural gas. Its energy operations use a mix of resources, including natural gas, coal and renewable sources, to support electric service.