Black Hills Corporation (NYSE:BKH) Short Interest Update

Black Hills Corporation (NYSE:BKH) was the target of a large growth in short interest during the month of January. As of January 15th, there was short interest totaling 6,542,982 shares, a growth of 35.1% from the December 31st total of 4,841,733 shares. Currently, 9.0% of the shares of the company are sold short. Based on an average trading volume of 958,239 shares, the short-interest ratio is currently 6.8 days. Based on an average trading volume of 958,239 shares, the short-interest ratio is currently 6.8 days. Currently, 9.0% of the shares of the company are sold short.

Black Hills Price Performance

BKH traded up $0.14 during midday trading on Friday, hitting $72.95. 1,663,626 shares of the company traded hands, compared to its average volume of 913,257. The business has a 50 day simple moving average of $71.15 and a two-hundred day simple moving average of $64.98. Black Hills has a 52-week low of $54.92 and a 52-week high of $74.23. The company has a market capitalization of $5.31 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 3.20 and a beta of 0.75. The company has a current ratio of 0.91, a quick ratio of 0.67 and a debt-to-equity ratio of 1.10.

Black Hills (NYSE:BKH) last released its quarterly earnings results on Thursday, November 6th. The utilities provider reported $0.45 earnings per share for the quarter, hitting the consensus estimate of $0.45. Black Hills had a net margin of 12.54% and a return on equity of 7.86%. The firm had revenue of $430.20 million during the quarter, compared to the consensus estimate of $439.96 million. During the same quarter in the prior year, the firm earned $0.35 EPS. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, equities analysts forecast that Black Hills will post 4.12 earnings per share for the current fiscal year.

Black Hills Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Tuesday, February 17th will be paid a $0.703 dividend. This is a boost from Black Hills’s previous quarterly dividend of $0.68. This represents a $2.81 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Tuesday, February 17th. Black Hills’s dividend payout ratio is presently 68.18%.

Wall Street Analyst Weigh In

BKH has been the subject of several analyst reports. Scotiabank upgraded shares of Black Hills from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $66.00 to $81.00 in a research note on Friday, November 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Black Hills in a report on Monday, December 29th. Finally, BMO Capital Markets increased their target price on shares of Black Hills from $70.00 to $82.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 27th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $75.67.

Insider Buying and Selling at Black Hills

In related news, CFO Kimberly F. Nooney sold 14,500 shares of the firm’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $70.70, for a total transaction of $1,025,150.00. Following the completion of the transaction, the chief financial officer owned 34,621 shares of the company’s stock, valued at $2,447,704.70. This trade represents a 29.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.63% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BKH. Spire Wealth Management grew its holdings in shares of Black Hills by 4,115.4% during the second quarter. Spire Wealth Management now owns 548 shares of the utilities provider’s stock worth $31,000 after buying an additional 535 shares in the last quarter. TD Waterhouse Canada Inc. acquired a new position in Black Hills during the second quarter worth about $31,000. Smartleaf Asset Management LLC grew its stake in Black Hills by 132.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 576 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 328 shares in the last quarter. Blue Trust Inc. grew its stake in Black Hills by 37.8% during the 3rd quarter. Blue Trust Inc. now owns 641 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 176 shares in the last quarter. Finally, Ameritas Advisory Services LLC acquired a new stake in Black Hills in the 2nd quarter valued at about $43,000. 86.71% of the stock is owned by institutional investors and hedge funds.

About Black Hills

Black Hills Corporation is a diversified energy company based in Rapid City, South Dakota, that provides electricity and natural gas distribution services to residential, commercial and industrial customers. Through its regulated utility subsidiaries—Black Hills Power, Cheyenne Light & Power, and Black Hills Energy—the company delivers reliable energy across Colorado, Kansas, Montana, Nebraska, South Dakota and Wyoming.

In addition to its distribution operations, Black Hills owns and operates a generation portfolio that includes natural gas–fired plants, coal-fired units, hydroelectric facilities and wind projects.