Black Hills (NYSE:BKH) Announces Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Key Points

• Black Hills reported quarterly EPS of $0.57, beating analyst estimates of $0.47 by $0.10; revenue of $466.1 million fell short of the $483.0 million consensus.
• The company declared a quarterly dividend of $0.703 per share, equivalent to $2.81 annually and a 3.3% yield.
• Analyst sentiment was broadly positive: MarketBeat reported an average “Buy” rating and an average price target of $83.25.

Black Hills (NYSE:BKH - Get Free Report) announced its quarterly earnings results on Wednesday. The utilities provider reported $0.57 EPS for the quarter, beating the consensus estimate of $0.47 by $0.10, FiscalAI reports. The company had revenue of $466.10 million for the quarter, compared to analyst estimates of $483.04 million. Black Hills had a net margin of 13.01% and a return on equity of 7.98%.

Black Hills Price Performance

Shares of NYSE BKH traded up $1.94 during mid-day trading on Wednesday, reaching $84.14. 2,564,333 shares of the company traded hands, compared to its average volume of 1,014,875. Black Hills has a fifty-two week low of $64.34 and a fifty-two week high of $85.35. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.52 and a quick ratio of 0.41. The stock has a fifty day simple moving average of $74.42 and a 200-day simple moving average of $73.44. The firm has a market cap of $6.42 billion, a PE ratio of 21.25, a price-to-earnings-growth ratio of 3.27 and a beta of 0.64.

Black Hills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, November 17th will be paid a $0.7030 dividend. This represents a $2.81 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Tuesday, November 17th. Black Hills's dividend payout ratio is currently 70.96%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Wall Street Zen upgraded Black Hills from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Bank of America increased their price objective on shares of Black Hills from $87.00 to $97.00 and gave the stock a "buy" rating in a report on Monday, September 21st. Jefferies Financial Group began coverage on Black Hills in a research report on Wednesday, October 14th. They set a "buy" rating and a $87.00 price target for the company. Weiss Ratings reissued a "buy (b)" rating on shares of Black Hills in a research report on Thursday, October 22nd. Finally, Freedom Broker upgraded Black Hills from a "hold" rating to a "buy" rating and upped their price target for the stock from $69.00 to $78.00 in a report on Wednesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $83.25.

Black Hills Company Profile

Black Hills Corporation NYSE: BKH is an energy company headquartered in Rapid City, South Dakota. Through its Black Hills Energy businesses, the company provides regulated electric and natural gas utility services to residential, commercial and industrial customers.

Black Hills operates electric utilities and natural gas distribution systems across parts of Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming. Its activities include generating and purchasing electricity, transmitting and distributing power, distributing natural gas, and developing and maintaining the infrastructure needed to serve its utility customers.

The company traces its history to the Black Hills region and has expanded through the development and acquisition of utility operations in the central and western United States.

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