Black Hills Stock Gets Stronger EPS Estimate from Scotiabank

Black Hills Corporation (NYSE:BKH) – Equities research analysts at Scotiabank lifted their FY2027 earnings per share estimates for shares of Black Hills in a report released on Wednesday, November 11th. Scotiabank analyst A. Weisel now anticipates that the utilities provider will earn $4.77 per share for the year, up from their prior forecast of $4.58. Scotiabank has a “Sector Outperform” rating and a $95.00 price target on the stock. The consensus estimate for Black Hills’ current full-year earnings is $4.34 per share.

Black Hills (NYSE:BKH) last issued its earnings results on Wednesday, November 4th. The utilities provider reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.10. The firm had revenue of $466.10 million for the quarter, compared to analyst estimates of $483.04 million. Black Hills had a return on equity of 8.17% and a net margin of 13.49%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the company earned $0.45 earnings per share.

A number of other analysts have also recently weighed in on the stock. Bank of America increased their price objective on shares of Black Hills from $87.00 to $97.00 and gave the stock a “buy” rating in a report on Monday, September 21st. Jefferies Financial Group assumed coverage on shares of Black Hills in a research note on Wednesday, October 14th. They set a “buy” rating and a $87.00 target price for the company. BMO Capital Markets boosted their target price on shares of Black Hills from $83.00 to $86.00 and gave the company an “outperform” rating in a research note on Thursday, October 8th. Wall Street Zen upgraded shares of Black Hills from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Freedom Broker cut shares of Black Hills from a “buy” rating to a “hold” rating and set a $78.00 target price for the company. in a research report on Thursday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $85.00.

Black Hills Stock Performance

Shares of BKH opened at $87.43 on Friday. Black Hills has a 1 year low of $67.25 and a 1 year high of $88.37. The company has a market cap of $6.69 billion, a price-to-earnings ratio of 21.02, a price-to-earnings-growth ratio of 3.45 and a beta of 0.64. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.34 and a current ratio of 0.47. The firm has a fifty day moving average of $76.26 and a 200-day moving average of $73.91.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Clearstead Trust LLC bought a new stake in shares of Black Hills during the second quarter valued at about $34,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Black Hills in the second quarter worth about $34,000. GK Wealth Management LLC bought a new position in Black Hills in the 3rd quarter valued at about $44,000. Pathway Financial Advisers LLC bought a new position in Black Hills in the 3rd quarter valued at about $45,000. Finally, Global Retirement Partners LLC bought a new position in Black Hills in the 2nd quarter valued at about $56,000. 86.71% of the stock is owned by institutional investors and hedge funds.

Black Hills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, November 17th will be paid a $0.7030 dividend. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $2.81 annualized dividend and a dividend yield of 3.2%. Black Hills’s dividend payout ratio is presently 67.55%.

About Black Hills

Black Hills Corporation is an energy company headquartered in Rapid City, South Dakota. Through its utility operations, it provides electric and natural gas service to communities across Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming. The company’s businesses include generating, transmitting and distributing electricity, as well as distributing natural gas. Its energy operations use a mix of resources, including natural gas, coal and renewable sources, to support electric service.