Black Hills Co. (NYSE:BKH) Announces $0.60 Quarterly Dividend

Black Hills Co. (NYSE:BKHGet Rating) announced a quarterly dividend on Monday, April 25th, Zacks reports. Stockholders of record on Wednesday, May 18th will be given a dividend of 0.595 per share by the utilities provider on Wednesday, June 1st. This represents a $2.38 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Tuesday, May 17th.

Black Hills has increased its dividend payment by an average of 5.9% per year over the last three years and has raised its dividend every year for the last 52 years. Black Hills has a payout ratio of 55.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Black Hills to earn $4.29 per share next year, which means the company should continue to be able to cover its $2.38 annual dividend with an expected future payout ratio of 55.5%.

Shares of BKH traded down $0.81 during mid-day trading on Wednesday, hitting $75.52. The company’s stock had a trading volume of 848 shares, compared to its average volume of 362,506. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.90 and a quick ratio of 0.73. The business has a 50-day moving average of $73.89. The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of 20.35, a P/E/G ratio of 3.14 and a beta of 0.47. Black Hills has a 1-year low of $61.95 and a 1-year high of $80.95.

Black Hills (NYSE:BKHGet Rating) last released its quarterly earnings data on Wednesday, February 9th. The utilities provider reported $1.11 earnings per share for the quarter, meeting the consensus estimate of $1.11. Black Hills had a return on equity of 8.48% and a net margin of 12.15%. The firm had revenue of $562.50 million during the quarter. During the same period in the previous year, the business earned $1.23 earnings per share. Sell-side analysts anticipate that Black Hills will post 4.05 EPS for the current fiscal year.

Several equities analysts have weighed in on BKH shares. StockNews.com downgraded Black Hills from a “hold” rating to a “sell” rating in a research report on Wednesday. Mizuho raised Black Hills from a “neutral” rating to a “buy” rating and set a $71.00 price target for the company in a research report on Monday, February 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, Black Hills currently has an average rating of “Hold” and an average price target of $74.80.

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in shares of Black Hills by 4.6% during the fourth quarter. BlackRock Inc. now owns 9,242,515 shares of the utilities provider’s stock worth $652,247,000 after purchasing an additional 404,234 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Black Hills by 4.7% during the fourth quarter. Legal & General Group Plc now owns 487,249 shares of the utilities provider’s stock worth $34,385,000 after purchasing an additional 21,785 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Black Hills by 16.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 349,586 shares of the utilities provider’s stock worth $24,670,000 after purchasing an additional 48,145 shares in the last quarter. Morgan Stanley lifted its stake in shares of Black Hills by 124.1% during the second quarter. Morgan Stanley now owns 256,204 shares of the utilities provider’s stock worth $16,815,000 after purchasing an additional 141,881 shares in the last quarter. Finally, Barclays PLC lifted its stake in shares of Black Hills by 26.3% during the fourth quarter. Barclays PLC now owns 109,591 shares of the utilities provider’s stock worth $7,734,000 after purchasing an additional 22,798 shares in the last quarter. Hedge funds and other institutional investors own 87.63% of the company’s stock.

Black Hills Company Profile (Get Rating)

Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. It operates in two segments, Electric Utilities and Gas Utilities. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 218,000 electric utility customers in Colorado, Montana, South Dakota, and Wyoming; and owns and operates 1,481.5 megawatts of generation capacity and 8,892 miles of electric transmission and distribution lines.

See Also

Dividend History for Black Hills (NYSE:BKH)

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