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

Black Hills Co. (NYSE:BKH) saw a large decrease in short interest in the month of June. As of June 15th, there was short interest totalling 2,620,000 shares, a decrease of 8.1% from the May 31st total of 2,850,000 shares. Based on an average daily volume of 437,100 shares, the short-interest ratio is presently 6.0 days.

Black Hills Stock Up 0.1 %

Shares of NYSE BKH traded up $0.04 during trading hours on Wednesday, hitting $54.31. The company had a trading volume of 212,620 shares, compared to its average volume of 504,104. The stock has a market capitalization of $3.74 billion, a P/E ratio of 13.37 and a beta of 0.69. The company has a quick ratio of 0.61, a current ratio of 0.73 and a debt-to-equity ratio of 1.11. Black Hills has a 1-year low of $46.43 and a 1-year high of $61.94. The firm’s 50 day moving average is $54.87 and its 200-day moving average is $53.52.

Black Hills (NYSE:BKH) last released its quarterly earnings data on Wednesday, May 8th. The utilities provider reported $1.87 EPS for the quarter, beating the consensus estimate of $1.70 by $0.17. The company had revenue of $726.40 million during the quarter, compared to the consensus estimate of $683.00 million. Black Hills had a return on equity of 8.37% and a net margin of 12.92%. The firm’s revenue for the quarter was down 21.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.73 EPS. On average, analysts expect that Black Hills will post 3.92 earnings per share for the current fiscal year.

Black Hills Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 17th were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 4.79%. The ex-dividend date of this dividend was Thursday, May 16th. Black Hills’s dividend payout ratio is 64.04%.

Insider Buying and Selling at Black Hills

In other news, Director Rebecca B. Roberts sold 3,094 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $54.84, for a total value of $169,674.96. Following the completion of the sale, the director now directly owns 7,956 shares of the company’s stock, valued at approximately $436,307.04. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On Black Hills

Hedge funds have recently added to or reduced their stakes in the business. Rise Advisors LLC acquired a new stake in Black Hills during the 1st quarter valued at $31,000. Pathway Financial Advisers LLC bought a new position in Black Hills during the 1st quarter worth $31,000. Sunbelt Securities Inc. bought a new position in Black Hills during the 1st quarter worth $33,000. Fifth Third Bancorp increased its position in Black Hills by 56.3% during the 1st quarter. Fifth Third Bancorp now owns 650 shares of the utilities provider’s stock worth $35,000 after buying an additional 234 shares during the period. Finally, Riverview Trust Co bought a new position in Black Hills during the 1st quarter worth $38,000. Institutional investors and hedge funds own 86.71% of the company’s stock.

Wall Street Analyst Weigh In

BKH has been the subject of a number of recent analyst reports. Mizuho upped their price target on Black Hills from $53.00 to $57.00 and gave the company a “neutral” rating in a research note on Tuesday, June 4th. StockNews.com raised Black Hills from a “sell” rating to a “hold” rating in a research report on Thursday, May 9th. Wells Fargo & Company upped their price target on Black Hills from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Friday, May 10th. Finally, Scotiabank reduced their price target on Black Hills from $58.00 to $54.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $55.60.

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.