Black Hills Co. (NYSE:BKH) Short Interest Update

Black Hills Co. (NYSE:BKHGet Free Report) saw a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 3,140,000 shares, an increase of 7.2% from the February 29th total of 2,930,000 shares. Based on an average trading volume of 562,900 shares, the days-to-cover ratio is currently 5.6 days.

Hedge Funds Weigh In On Black Hills

Institutional investors have recently modified their holdings of the business. State of Wyoming bought a new position in shares of Black Hills during the 2nd quarter valued at about $27,000. Geneos Wealth Management Inc. lifted its stake in Black Hills by 87.3% in the 3rd quarter. Geneos Wealth Management Inc. now owns 562 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 262 shares in the last quarter. ST Germain D J Co. Inc. bought a new stake in Black Hills in the 2nd quarter valued at approximately $30,000. Lindbrook Capital LLC lifted its stake in Black Hills by 678.4% in the 3rd quarter. Lindbrook Capital LLC now owns 685 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 597 shares in the last quarter. Finally, Parallel Advisors LLC lifted its stake in Black Hills by 53.8% in the 4th quarter. Parallel Advisors LLC now owns 752 shares of the utilities provider’s stock valued at $41,000 after acquiring an additional 263 shares in the last quarter. Institutional investors own 86.71% of the company’s stock.

Black Hills Trading Down 0.2 %

Shares of Black Hills stock traded down $0.11 during trading on Wednesday, hitting $54.11. 148,983 shares of the company were exchanged, compared to its average volume of 569,322. The firm has a market capitalization of $3.70 billion, a P/E ratio of 13.83 and a beta of 0.64. Black Hills has a 1-year low of $46.43 and a 1-year high of $66.85. The firm’s fifty day moving average price is $52.18 and its 200 day moving average price is $52.00. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.70 and a quick ratio of 0.56.

Black Hills (NYSE:BKHGet Free Report) last posted its earnings results on Thursday, February 8th. The utilities provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.11. The company had revenue of $591.70 million during the quarter, compared to analyst estimates 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 previous year, the company earned $1.11 EPS. As a group, sell-side analysts expect that Black Hills will post 3.9 earnings per share for the current fiscal year.

Black Hills Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. StockNews.com cut Black Hills from a “hold” rating to a “sell” rating in a report on Thursday, March 28th. Scotiabank lifted their price objective on Black Hills from $57.00 to $58.00 and gave the company a “sector perform” rating in a report on Friday, February 9th. Finally, Royal Bank of Canada cut their price objective on Black Hills from $61.00 to $57.00 and set a “sector perform” rating for the company in a report on Friday, February 9th. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $55.80.

Check Out Our Latest Stock Report on BKH

Black Hills Company Profile

(Get Free Report)

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.

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