Short Interest in Black Hills Co. (NYSE:BKH) Declines By 29.2%

Black Hills Co. (NYSE:BKH - Get Free Report) was the recipient of a significant decline in short interest during the month of May. As of May 31st, there was short interest totalling 1,500,000 shares, a decline of 29.2% from the May 15th total of 2,120,000 shares. Based on an average daily trading volume, of 469,200 shares, the days-to-cover ratio is currently 3.2 days. Currently, 2.1% of the company's stock are sold short.

Analysts Set New Price Targets

Separately, BMO Capital Markets started coverage on Black Hills in a report on Tuesday, May 13th. They issued an "outperform" rating and a $68.00 price target for the company.

Hedge Funds Weigh In On Black Hills

Hedge funds and other institutional investors have recently made changes to their positions in the business. Strs Ohio bought a new stake in Black Hills during the 1st quarter valued at $352,000. Intrua Financial LLC raised its stake in shares of Black Hills by 4.1% during the first quarter. Intrua Financial LLC now owns 8,353 shares of the utilities provider's stock valued at $507,000 after purchasing an additional 330 shares in the last quarter. Intech Investment Management LLC lifted its holdings in Black Hills by 21.5% in the first quarter. Intech Investment Management LLC now owns 33,120 shares of the utilities provider's stock worth $2,009,000 after purchasing an additional 5,859 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Black Hills by 5.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 134,673 shares of the utilities provider's stock valued at $8,168,000 after buying an additional 7,332 shares in the last quarter. Finally, United Services Automobile Association acquired a new position in Black Hills during the 1st quarter valued at about $255,000. 86.71% of the stock is currently owned by institutional investors and hedge funds.

Black Hills Price Performance

Shares of NYSE:BKH opened at $56.21 on Tuesday. 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 firm has a 50-day simple moving average of $58.95 and a 200 day simple moving average of $59.23. Black Hills has a fifty-two week low of $51.99 and a fifty-two week high of $65.59. The company has a market cap of $4.08 billion, a PE ratio of 14.34, a P/E/G ratio of 2.75 and a beta of 0.72.

Black Hills (NYSE:BKH - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $1.87 earnings per share for the quarter, missing analysts' consensus estimates of $1.92 by ($0.05). Black Hills had a return on equity of 7.82% and a net margin of 12.84%. The company had revenue of $805.20 million for the quarter, compared to analyst estimates of $729.73 million. During the same quarter in the previous year, the company posted $1.87 earnings per share. The firm's revenue for the quarter was up 10.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Black Hills will post 4.12 EPS for the current year.

Black Hills Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Friday, May 16th were issued a dividend of $0.676 per share. The ex-dividend date was Friday, May 16th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.81%. Black Hills's dividend payout ratio (DPR) is presently 68.88%.

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.

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