Black Hills Co. (NYSE:BKH - Get Free Report) declared a quarterly dividend on Tuesday, April 22nd, RTT News reports. Investors of record on Friday, May 16th will be given a dividend of 0.676 per share by the utilities provider on Sunday, June 1st. This represents a $2.70 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date of this dividend is Friday, May 16th.
Black Hills has raised its dividend payment by an average of 4.3% per year over the last three years and has increased its dividend annually for the last 55 consecutive years. Black Hills has a payout ratio of 62.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Black Hills to earn $4.36 per share next year, which means the company should continue to be able to cover its $2.70 annual dividend with an expected future payout ratio of 61.9%.
Black Hills Price Performance
Shares of NYSE:BKH traded down $0.32 during midday trading on Friday, hitting $60.23. The stock had a trading volume of 284,241 shares, compared to its average volume of 456,416. The company's 50-day moving average price is $59.77 and its 200-day moving average price is $59.93. Black Hills has a fifty-two week low of $51.66 and a fifty-two week high of $65.59. The company has a quick ratio of 0.77, a current ratio of 0.97 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $4.34 billion, a P/E ratio of 15.36, a price-to-earnings-growth ratio of 2.75 and a beta of 0.64.
Black Hills (NYSE:BKH - Get Free Report) last released its earnings results on Wednesday, February 5th. The utilities provider reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.17. Black Hills had a return on equity of 7.82% and a net margin of 12.84%. As a group, equities research analysts predict that Black Hills will post 4.12 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Separately, Scotiabank lowered their price objective on Black Hills from $67.00 to $66.00 and set a "sector perform" rating for the company in a research note on Friday, February 7th.
Check Out Our Latest Stock Analysis on BKH
About Black Hills
(
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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.
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