FY2024 EPS Estimates for Black Hills Reduced by Scotiabank

Black Hills Co. (NYSE:BKH - Free Report) - Stock analysts at Scotiabank reduced their FY2024 EPS estimates for Black Hills in a research note issued on Wednesday, January 8th. Scotiabank analyst A. Weisel now anticipates that the utilities provider will post earnings per share of $3.88 for the year, down from their previous forecast of $3.92. Scotiabank currently has a "Sector Perform" rating and a $67.00 target price on the stock. The consensus estimate for Black Hills' current full-year earnings is $3.91 per share. Scotiabank also issued estimates for Black Hills' FY2026 earnings at $4.41 EPS.

Black Hills Trading Down 0.1 %

Shares of BKH traded down $0.08 during midday trading on Thursday, hitting $56.11. The stock had a trading volume of 488,170 shares, compared to its average volume of 466,914. The stock's 50 day moving average is $60.55 and its 200 day moving average is $59.22. The firm has a market cap of $4.02 billion, a PE ratio of 15.08, a price-to-earnings-growth ratio of 4.41 and a beta of 0.72. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.12 and a quick ratio of 0.83. Black Hills has a 1 year low of $49.33 and a 1 year high of $65.59.

Hedge Funds Weigh In On Black Hills

Institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc increased its holdings in Black Hills by 181.5% during the 4th quarter. Versant Capital Management Inc now owns 473 shares of the utilities provider's stock worth $28,000 after purchasing an additional 305 shares during the period. Blue Trust Inc. increased its stake in shares of Black Hills by 84.9% during the third quarter. Blue Trust Inc. now owns 577 shares of the utilities provider's stock valued at $35,000 after buying an additional 265 shares during the period. Capital Performance Advisors LLP bought a new stake in shares of Black Hills in the third quarter valued at about $45,000. Quarry LP lifted its stake in Black Hills by 158.0% in the second quarter. Quarry LP now owns 841 shares of the utilities provider's stock worth $46,000 after acquiring an additional 515 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. lifted its stake 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 worth $48,000 after acquiring an additional 807 shares during the period. 86.71% of the stock is owned by hedge funds and other institutional investors.

Black Hills Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Monday, November 18th were paid a $0.65 dividend. The ex-dividend date was Monday, November 18th. This represents a $2.60 dividend on an annualized basis and a yield of 4.63%. Black Hills's payout ratio is 69.89%.

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.