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

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. StockNews.com cut shares of Black Hills from a hold rating to a sell rating in a research report on Thursday. Scotiabank boosted their price target on shares of Black Hills from $57.00 to $58.00 and gave the stock a sector perform rating in a research note on Friday, February 9th. Finally, Royal Bank of Canada reduced their target price 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. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $55.80.

Black Hills Stock Up 3.5 %

Shares of NYSE BKH opened at $54.04 on Thursday. The company has a current ratio of 0.70, a quick ratio of 0.56 and a debt-to-equity ratio of 1.15. Black Hills has a 12-month low of $46.43 and a 12-month high of $66.85. The firm’s 50-day moving average price is $51.89 and its 200-day moving average price is $52.04. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of 13.79 and a beta of 0.64.

Black Hills (NYSE:BKH) last issued its quarterly earnings data on Thursday, February 8th. The utilities provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.11. The business 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 period in the prior year, the business posted $1.11 earnings per share. On average, equities research analysts anticipate that Black Hills will post 3.9 EPS for the current fiscal year.

Black Hills Increases Dividend

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

Institutional Investors Weigh In On Black Hills

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Clarity Asset Management Inc. purchased a new stake in shares of Black Hills in the fourth quarter worth approximately $41,000. GSA Capital Partners LLP purchased a new position in shares of Black Hills during the fourth quarter worth approximately $491,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Black Hills during the fourth quarter valued at approximately $5,667,000. Ruggaard & Associates LLC bought a new position in Black Hills in the fourth quarter worth approximately $222,000. Finally, Virtus ETF Advisers LLC raised its position in Black Hills by 15.4% during the 4th quarter. Virtus ETF Advisers LLC now owns 3,753 shares of the utilities provider’s stock valued at $202,000 after purchasing an additional 502 shares in the last quarter. Hedge funds and other institutional investors 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.