Short Interest in Black Hills Corporation (NYSE:BKH) Decreases By 29.2%

Black Hills Corporation (NYSE:BKH - Get Free Report) was the recipient of a large decrease in short interest in the month of May. As of May 31st, there was short interest totalling 1,500,000 shares, a decrease 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 presently 3.2 days. Approximately 2.1% of the company's stock are short sold.

Black Hills Stock Performance

Black Hills stock traded down $0.22 during trading on Friday, reaching $55.76. The company had a trading volume of 879,485 shares, compared to its average volume of 462,123. The firm has a market capitalization of $4.04 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 2.59 and a beta of 0.72. Black Hills has a 52 week low of $52.42 and a 52 week high of $65.59. The firm's 50-day simple moving average is $58.82 and its 200 day simple moving average is $59.14. The company has a current ratio of 0.76, a quick ratio of 0.62 and a debt-to-equity ratio of 1.06.

Black Hills (NYSE:BKH - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $1.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.92 by ($0.05). Black Hills had a net margin of 12.67% and a return on equity of 7.83%. The company had revenue of $805.20 million for the quarter, compared to the consensus estimate of $729.73 million. During the same quarter in the previous year, the business earned $1.87 EPS. The company's quarterly revenue was up 10.8% on a year-over-year basis. Sell-side analysts forecast that Black Hills will post 4.12 earnings per share for the current fiscal year.

Black Hills Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Friday, May 16th were paid a dividend of $0.676 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date was Friday, May 16th. Black Hills's dividend payout ratio is currently 68.88%.

Hedge Funds Weigh In On Black Hills

Hedge funds have recently bought and sold shares of the business. Journey Strategic Wealth LLC boosted its stake in shares of Black Hills by 4.1% during the first quarter. Journey Strategic Wealth LLC now owns 4,367 shares of the utilities provider's stock valued at $265,000 after purchasing an additional 172 shares during the period. Smartleaf Asset Management LLC increased its stake in Black Hills by 66.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 432 shares of the utilities provider's stock worth $25,000 after buying an additional 173 shares during the period. Financial Counselors Inc. lifted its holdings in Black Hills by 0.3% during the 1st quarter. Financial Counselors Inc. now owns 54,175 shares of the utilities provider's stock valued at $3,286,000 after buying an additional 176 shares in the last quarter. Xponance Inc. boosted its position in Black Hills by 1.9% in the 1st quarter. Xponance Inc. now owns 10,218 shares of the utilities provider's stock valued at $620,000 after buying an additional 188 shares during the period. Finally, EP Wealth Advisors LLC boosted its position in Black Hills by 5.9% in the 4th quarter. EP Wealth Advisors LLC now owns 3,528 shares of the utilities provider's stock valued at $206,000 after buying an additional 197 shares during the period. Institutional investors own 86.71% of the company's stock.

Analysts Set New Price Targets

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

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.