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

Black Hills Co. (NYSE:BKH) saw a large growth in short interest in October. As of October 31st, there was short interest totalling 2,490,000 shares, a growth of 12.2% from the October 15th total of 2,220,000 shares. Based on an average daily volume of 425,100 shares, the short-interest ratio is currently 5.9 days.

Black Hills Stock Performance

BKH traded up $0.88 during midday trading on Monday, reaching $62.98. The company’s stock had a trading volume of 422,631 shares, compared to its average volume of 474,917. The stock has a market cap of $4.51 billion, a P/E ratio of 16.93, a PEG ratio of 4.53 and a beta of 0.69. The company has a fifty day simple moving average of $60.56 and a 200 day simple moving average of $57.84. The company has a current ratio of 1.12, a quick ratio of 0.83 and a debt-to-equity ratio of 1.20. Black Hills has a twelve month low of $49.33 and a twelve month high of $63.60.

Black Hills Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Monday, November 18th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 4.13%. The ex-dividend date is Monday, November 18th. Black Hills’s payout ratio is presently 69.89%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on BKH shares. Scotiabank raised their price target on Black Hills from $54.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Wells Fargo & Company raised their price objective on Black Hills from $61.00 to $64.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $58.00.

Institutional Trading of Black Hills

Institutional investors have recently modified their holdings of the company. Pathway Financial Advisers LLC acquired a new stake in shares of Black Hills during the 1st quarter worth approximately $31,000. Blue Trust Inc. grew its holdings in shares of Black Hills by 84.9% during the 3rd quarter. Blue Trust Inc. now owns 577 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 265 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in Black Hills in the 3rd quarter valued at $45,000. Quarry LP boosted its stake in Black Hills by 158.0% in the 2nd quarter. Quarry LP now owns 841 shares of the utilities provider’s stock valued at $46,000 after buying an additional 515 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. grew its position in Black Hills by 972.3% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 890 shares of the utilities provider’s stock valued at $48,000 after acquiring an additional 807 shares during the period. Institutional investors and hedge funds own 86.71% of the company’s stock.

About Black Hills

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.