Black Hills (NYSE:BKH) Releases FY 2024 Earnings Guidance

Black Hills (NYSE:BKH) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 3.800-4.000 for the period, compared to the consensus estimate of 3.890. The company issued revenue guidance of -.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Royal Bank of Canada cut their price target on Black Hills from $61.00 to $57.00 and set a sector perform rating on the stock in a report on Friday, February 9th. Scotiabank upped their target price on Black Hills from $57.00 to $58.00 and gave the stock a sector perform rating in a report on Friday, February 9th. Finally, StockNews.com lowered Black Hills from a hold rating to a sell rating in a report on Thursday. Two analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, Black Hills presently has a consensus rating of Hold and an average target price of $55.80.

Black Hills Price Performance

Shares of NYSE BKH opened at $54.04 on Thursday. The business’s 50 day moving average price is $51.89 and its two-hundred day moving average price is $52.04. The company has a market cap of $3.69 billion, a PE ratio of 13.79 and a beta of 0.64. The company has a quick ratio of 0.56, a current ratio of 0.70 and a debt-to-equity ratio of 1.15. Black Hills has a twelve month low of $46.43 and a twelve month high of $66.85.

Black Hills (NYSE:BKH) last announced its quarterly earnings results on Thursday, February 8th. The utilities provider reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. The firm had revenue of $591.70 million for the quarter, compared to the consensus estimate of $863.67 million. Black Hills had a return on equity of 8.09% and a net margin of 11.25%. During the same quarter in the previous year, the business earned $1.11 earnings per share. On average, analysts predict that Black Hills will post 3.9 EPS for the current year.

Black Hills Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were given a $0.65 dividend. This is an increase from Black Hills’s previous quarterly dividend of $0.63. The ex-dividend date was Thursday, February 15th. This represents a $2.60 annualized dividend and a dividend yield of 4.81%. Black Hills’s dividend payout ratio is presently 66.33%.

Hedge Funds Weigh In On Black Hills

Several institutional investors and hedge funds have recently made changes to their positions in BKH. State of Wyoming acquired a new position in shares of Black Hills in the second quarter valued at approximately $27,000. Clarity Asset Management Inc. acquired a new position in shares of Black Hills in the fourth quarter valued at approximately $41,000. Belpointe Asset Management LLC grew its position in shares of Black Hills by 60.6% in the first quarter. Belpointe Asset Management LLC now owns 652 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 246 shares during the last quarter. KBC Group NV acquired a new position in shares of Black Hills in the fourth quarter valued at approximately $51,000. Finally, CENTRAL TRUST Co grew its position in shares of Black Hills by 63.3% in the third quarter. CENTRAL TRUST Co now owns 890 shares of the utilities provider’s stock valued at $61,000 after purchasing an additional 345 shares during the last quarter. Institutional investors and hedge funds own 86.71% of the company’s stock.

Black Hills Company Profile

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.