Black Hills Corporation (BKH) to Issue Quarterly Dividend of $0.68 on December 1st

Black Hills Corporation (NYSE:BKH) declared a quarterly dividend on Tuesday, October 28th. Shareholders of record on Monday, November 17th will be paid a dividend of 0.676 per share by the utilities provider on Monday, December 1st. This represents a c) annualized dividend and a yield of 3.9%. The ex-dividend date is Monday, November 17th.

Black Hills has increased its dividend by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 55 years. Black Hills has a payout ratio of 62.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Black Hills to earn $4.36 per share next year, which means the company should continue to be able to cover its $2.70 annual dividend with an expected future payout ratio of 61.9%.

Black Hills Trading Down 0.7%

NYSE:BKH opened at $69.81 on Friday. The stock has a market cap of $5.09 billion, a price-to-earnings ratio of 17.58, a PEG ratio of 2.95 and a beta of 0.76. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 1.06. The company’s 50 day moving average price is $62.76 and its 200-day moving average price is $59.87. Black Hills has a 52 week low of $54.92 and a 52 week high of $72.22.

Black Hills (NYSE:BKH) last announced its quarterly earnings data on Thursday, November 6th. The utilities provider reported $0.45 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.45. The company had revenue of $430.20 million during the quarter, compared to analyst estimates of $439.96 million. Black Hills had a net margin of 12.68% and a return on equity of 7.81%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.35 EPS. On average, equities research analysts forecast that Black Hills will post 4.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Black Hills news, CFO Kimberly F. Nooney sold 14,500 shares of the stock in a transaction dated 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 transaction, the chief financial officer owned 34,621 shares of the company’s stock, valued at approximately $2,447,704.70. This represents a 29.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On Black Hills

A number of large investors have recently made changes to their positions in the company. IMA Advisory Services Inc. bought a new position in shares of Black Hills in the 1st quarter worth approximately $30,000. Clearstead Trust LLC purchased a new stake in Black Hills during the first quarter valued at approximately $30,000. Spire Wealth Management increased its holdings in Black Hills by 4,115.4% during the second quarter. Spire Wealth Management now owns 548 shares of the utilities provider’s stock valued at $31,000 after buying an additional 535 shares during the last quarter. TD Waterhouse Canada Inc. bought a new position in Black Hills in the second quarter worth approximately $31,000. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Black Hills by 132.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 576 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 328 shares during the last quarter. 86.71% of the stock is currently owned by institutional investors.

About Black Hills

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.