Black Hills (NYSE:BKH) Releases FY24 Earnings Guidance

Black Hills (NYSE:BKH) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $3.80-4.00 for the period, compared to the consensus earnings per share estimate of $3.92.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BKH. Wells Fargo & Company boosted their price target on Black Hills from $56.00 to $61.00 and gave the company an equal weight rating in a report on Friday, May 10th. Scotiabank reduced their price target on Black Hills from $58.00 to $54.00 and set a sector perform rating on the stock in a research report on Monday, April 22nd. Mizuho upped their target price on Black Hills from $53.00 to $57.00 and gave the company a neutral rating in a research report on Tuesday, June 4th. Finally, StockNews.com raised Black Hills from a sell rating to a hold rating in a research report on Thursday, May 9th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $55.60.

Black Hills Stock Up 0.0 %

Black Hills stock traded up $0.02 during midday trading on Wednesday, reaching $58.97. The company’s stock had a trading volume of 870,791 shares, compared to its average volume of 493,994. The business has a 50-day simple moving average of $55.17 and a 200-day simple moving average of $53.85. The company has a market cap of $4.06 billion, a P/E ratio of 14.52 and a beta of 0.69. Black Hills has a fifty-two week low of $46.43 and a fifty-two week high of $61.01. The company has a quick ratio of 0.61, a current ratio of 0.73 and a debt-to-equity ratio of 1.11.

Black Hills (NYSE:BKH) last issued its quarterly earnings data on Wednesday, May 8th. The utilities provider reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.17. Black Hills had a return on equity of 8.37% and a net margin of 12.92%. The firm had revenue of $726.40 million during the quarter, compared to the consensus estimate of $683.00 million. During the same period in the previous year, the firm posted $1.73 EPS. The company’s quarterly revenue was down 21.1% compared to the same quarter last year. On average, research analysts expect that Black Hills will post 3.92 earnings per share for the current fiscal year.

Black Hills Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Monday, August 19th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.41%. Black Hills’s dividend payout ratio (DPR) is presently 64.04%.

Insider Activity at Black Hills

In related news, Director Rebecca B. Roberts sold 3,094 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $54.84, for a total transaction of $169,674.96. Following the completion of the sale, the director now directly owns 7,956 shares of the company’s stock, valued at $436,307.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.61% 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.