Black Hills (NYSE:BKH) Issues FY 2022 Earnings Guidance

Black Hills (NYSE:BKHGet Rating) issued an update on its FY 2022 earnings guidance on Wednesday morning. The company provided EPS guidance of $3.95-$4.15 for the period, compared to the consensus EPS estimate of $4.06. The company issued revenue guidance of -.

Shares of BKH stock opened at $75.28 on Wednesday. Black Hills has a 52-week low of $61.95 and a 52-week high of $80.95. 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 company has a market cap of $4.88 billion, a price-to-earnings ratio of 18.68, a P/E/G ratio of 2.98 and a beta of 0.48. The business’s 50 day simple moving average is $75.09.

Black Hills (NYSE:BKHGet Rating) last issued its earnings results on Wednesday, May 4th. The utilities provider reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.19. The business had revenue of $823.60 million during the quarter, compared to analyst estimates of $657.25 million. Black Hills had a return on equity of 9.16% and a net margin of 12.06%. Black Hills’s revenue was up 30.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.54 EPS. On average, equities research analysts anticipate that Black Hills will post 4.05 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 1st. Stockholders of record on Wednesday, May 18th will be issued a $0.595 dividend. The ex-dividend date of this dividend is Tuesday, May 17th. This represents a $2.38 dividend on an annualized basis and a dividend yield of 3.16%. Black Hills’s dividend payout ratio is presently 59.06%.

Several research analysts recently weighed in on BKH shares. StockNews.com upgraded Black Hills from a sell rating to a hold rating in a research note on Tuesday. Mizuho cut Black Hills from a buy rating to a neutral rating and upped their price target for the stock from $71.00 to $76.00 in a report on Friday, May 6th.

A number of institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio raised its stake in shares of Black Hills by 8.0% in the fourth quarter. Public Employees Retirement System of Ohio now owns 3,769 shares of the utilities provider’s stock valued at $266,000 after acquiring an additional 279 shares in the last quarter. MetLife Investment Management LLC grew its holdings in shares of Black Hills by 0.8% during the fourth quarter. MetLife Investment Management LLC now owns 53,319 shares of the utilities provider’s stock worth $3,763,000 after buying an additional 432 shares during the last quarter. Amalgamated Bank lifted its position in Black Hills by 1.1% in the fourth quarter. Amalgamated Bank now owns 42,162 shares of the utilities provider’s stock valued at $2,975,000 after purchasing an additional 469 shares during the period. Comerica Bank lifted its position in Black Hills by 1.5% in the fourth quarter. Comerica Bank now owns 39,050 shares of the utilities provider’s stock valued at $2,634,000 after purchasing an additional 560 shares during the period. Finally, Stifel Financial Corp lifted its position in Black Hills by 5.1% in the fourth quarter. Stifel Financial Corp now owns 14,378 shares of the utilities provider’s stock valued at $1,014,000 after purchasing an additional 700 shares during the period. Institutional investors own 85.37% 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.

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