Black Hills Corp (NYSE:BKH) Director Kathleen S. Mcallister purchased 1,000 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was purchased at an average price of $54.76 per share, for a total transaction of $54,760.00. Following the acquisition, the director now owns 2,633 shares in the company, valued at $144,183.08. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Shares of BKH traded up $0.50 during midday trading on Wednesday, reaching $54.95. 365,460 shares of the company were exchanged, compared to its average volume of 420,589. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 1.35. Black Hills Corp has a 1-year low of $48.07 and a 1-year high of $87.12. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 17.39, a P/E/G ratio of 2.66 and a beta of 0.26. The stock has a 50-day moving average price of $56.97 and a 200-day moving average price of $60.57.
Black Hills (NYSE:BKH) last announced its earnings results on Monday, August 3rd. The utilities provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). Black Hills had a net margin of 11.70% and a return on equity of 8.50%. The business had revenue of $326.90 million for the quarter, compared to analyst estimates of $395.88 million. During the same quarter in the prior year, the business earned $0.24 earnings per share. The firm's revenue was down 2.1% on a year-over-year basis. Equities research analysts anticipate that Black Hills Corp will post 3.55 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th were issued a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date was Monday, August 17th. Black Hills's dividend payout ratio (DPR) is 60.62%.
A number of analysts have commented on BKH shares. Mizuho decreased their target price on Black Hills from $77.00 to $70.00 and set a "buy" rating on the stock in a research report on Thursday, July 2nd. Sidoti raised shares of Black Hills from a "neutral" rating to a "buy" rating and upped their price target for the company from $66.00 to $69.00 in a report on Thursday, May 21st. TheStreet lowered Black Hills from a "b-" rating to a "c" rating in a research note on Friday, September 4th. Credit Suisse Group upgraded Black Hills from a "neutral" rating to an "outperform" rating and set a $70.00 target price on the stock in a report on Tuesday, May 19th. Finally, Zacks Investment Research cut Black Hills from a "hold" rating to a "sell" rating in a research report on Tuesday, June 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of "Buy" and a consensus price target of $72.75.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Financial Counselors Inc. lifted its position in Black Hills by 0.3% in the second quarter. Financial Counselors Inc. now owns 59,951 shares of the utilities provider's stock worth $3,397,000 after purchasing an additional 205 shares during the period. First PREMIER Bank raised its holdings in shares of Black Hills by 0.7% during the second quarter. First PREMIER Bank now owns 29,465 shares of the utilities provider's stock valued at $1,669,000 after acquiring an additional 211 shares during the period. Advisor Group Holdings Inc. boosted its stake in Black Hills by 3.6% in the 2nd quarter. Advisor Group Holdings Inc. now owns 6,736 shares of the utilities provider's stock worth $383,000 after purchasing an additional 233 shares during the period. AdvisorNet Financial Inc grew its position in Black Hills by 4.3% during the 2nd quarter. AdvisorNet Financial Inc now owns 8,069 shares of the utilities provider's stock worth $457,000 after purchasing an additional 329 shares in the last quarter. Finally, Crewe Advisors LLC grew its holdings in shares of Black Hills by 41.8% during the second quarter. Crewe Advisors LLC now owns 1,133 shares of the utilities provider's stock valued at $64,000 after buying an additional 334 shares in the last quarter. Hedge funds and other institutional investors own 85.71% of the company's stock.
About Black Hills
Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. It operates through Electric Utilities, Gas Utilities, Power Generation, and Mining segments. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 212,000 electric customers in Colorado, Montana, South Dakota, and Wyoming, as well as provides electrical system construction services to large industrial customers.
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5 Oil Stocks That May Not Survive the Current Crisis
What would you think of the long-term prospects of a business that paid you to buy their products? That’s an oversimplification of what occurred to the May futures contract for oil on April 20. The price for that contract sold for a negative price for the first time in history.
The crisis befalling the oil companies at this time can best be described as “only the strongest survive.” There’s just no way the oil companies can possibly handle month after month of rock-bottom oil prices.
The problem is almost comically simple to understand. There is a massively reduced demand for oil as millions of Americans are following mitigation orders ranging from social distancing guidelines to more restrictive shelter in place orders. At the same time, the market is trying to absorb the oversupply of oil that came from Russia and Saudi Arabia.
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However, since the middle of February, the bottom has dropped out of the market in general, and oil prices have been one of the main sectors to feel the impact.
Initially, investors tried to remain optimistic. A month ago, investors thought that the economy might be reopening sooner rather than later. However, the exact timing of the reopening is about as fluid as a barrel of oil. And with it looking more likely that there will be more demand destruction at least through May, there’s very little to prop up the stock of any oil companies.
And that means that, in all likelihood, there will not be room left for some oil companies. We’ve highlighted five oil stocks that have a strong probability of not surviving the chaos surrounding the coronavirus and our nation’s response.
View the "5 Oil Stocks That May Not Survive the Current Crisis".