FY2024 EPS Estimates for Black Hills Cut by Scotiabank

Black Hills Co. (NYSE:BKH) – Analysts at Scotiabank dropped their FY2024 earnings estimates for shares of Black Hills in a report issued on Wednesday, January 8th. Scotiabank analyst A. Weisel now expects that the utilities provider will post earnings per share of $3.88 for the year, down from their previous forecast of $3.92. Scotiabank has a “Sector Perform” rating and a $67.00 price objective 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 Stock Down 0.1 %

NYSE BKH opened at $56.11 on Thursday. Black Hills has a twelve month low of $49.33 and a twelve month high of $65.59. The stock has a market cap of $4.02 billion, a PE ratio of 15.08, a PEG ratio of 4.41 and a beta of 0.72. The firm has a 50-day simple moving average of $60.61 and a 200 day simple moving average of $59.24. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.83 and a current ratio of 1.12.

Institutional Trading of Black Hills

Institutional investors have recently made changes to their positions in the business. Commonwealth Equity Services LLC lifted its stake in Black Hills by 11.8% during the second quarter. Commonwealth Equity Services LLC now owns 16,510 shares of the utilities provider’s stock worth $898,000 after purchasing an additional 1,749 shares during the period. Natixis Advisors LLC lifted its position in shares of Black Hills by 8.2% during the 2nd quarter. Natixis Advisors LLC now owns 17,559 shares of the utilities provider’s stock worth $955,000 after buying an additional 1,332 shares during the period. Rhumbline Advisers boosted its stake in Black Hills by 1.6% in the 2nd quarter. Rhumbline Advisers now owns 241,615 shares of the utilities provider’s stock valued at $13,139,000 after buying an additional 3,783 shares in the last quarter. Victory Capital Management Inc. grew its position in Black Hills by 54.5% in the second quarter. Victory Capital Management Inc. now owns 481,415 shares of the utilities provider’s stock valued at $26,179,000 after acquiring an additional 169,827 shares during the period. Finally, Arizona State Retirement System raised its stake in Black Hills by 2.3% during the second quarter. Arizona State Retirement System now owns 19,117 shares of the utilities provider’s stock worth $1,040,000 after acquiring an additional 431 shares in the last quarter. 86.71% of the stock is currently owned by institutional investors and hedge funds.

Black Hills Announces Dividend

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

About Black Hills

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.