Black Hills (NYSE:BKH – Get Rating) announced its quarterly earnings results on Wednesday. The utilities provider reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.10, Fidelity Earnings reports. Black Hills had a return on equity of 9.22% and a net margin of 11.88%. During the same period in the previous year, the business posted $0.40 earnings per share. Black Hills updated its FY 2022 guidance to $3.95-$4.15 EPS and its FY22 guidance to $3.95-$4.15 EPS.
Black Hills Trading Down 0.8 %
Black Hills stock traded down $0.63 during trading hours on Friday, reaching $74.40. 412,508 shares of the company’s stock were exchanged, compared to its average volume of 377,937. The company has a quick ratio of 0.93, a current ratio of 1.07 and a debt-to-equity ratio of 1.39. The firm’s 50 day simple moving average is $72.95 and its 200 day simple moving average is $72.75. Black Hills has a twelve month low of $61.95 and a twelve month high of $80.95. The firm has a market capitalization of $4.82 billion, a PE ratio of 17.93, a PEG ratio of 3.00 and a beta of 0.49.
Black Hills Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Thursday, August 18th will be issued a dividend of $0.595 per share. The ex-dividend date is Wednesday, August 17th. This represents a $2.38 dividend on an annualized basis and a yield of 3.20%. Black Hills’s payout ratio is currently 57.35%.
Wall Street Analysts Forecast Growth
Insiders Place Their Bets
In other Black Hills news, Director Rebecca B. Roberts sold 500 shares of the stock in a transaction dated Friday, May 20th. The stock was sold at an average price of $73.62, for a total transaction of $36,810.00. Following the completion of the sale, the director now directly owns 6,445 shares in the company, valued at approximately $474,480.90. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.71% of the company’s stock.
Hedge Funds Weigh In On Black Hills
A number of institutional investors and hedge funds have recently made changes to their positions in BKH. Great West Life Assurance Co. Can boosted its position in shares of Black Hills by 11.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 36,590 shares of the utilities provider’s stock worth $2,896,000 after purchasing an additional 3,657 shares in the last quarter. Yousif Capital Management LLC boosted its position in shares of Black Hills by 4.4% during the 1st quarter. Yousif Capital Management LLC now owns 34,426 shares of the utilities provider’s stock worth $2,651,000 after purchasing an additional 1,466 shares in the last quarter. Raymond James Trust N.A. boosted its position in shares of Black Hills by 8.2% during the 1st quarter. Raymond James Trust N.A. now owns 8,190 shares of the utilities provider’s stock worth $631,000 after purchasing an additional 618 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Black Hills by 7.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 748,590 shares of the utilities provider’s stock valued at $57,656,000 after acquiring an additional 50,038 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its position in Black Hills by 1.1% in the 1st quarter. Allianz Asset Management GmbH now owns 13,420 shares of the utilities provider’s stock valued at $1,034,000 after acquiring an additional 151 shares in the last quarter. Institutional investors own 85.37% 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. 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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