Black Hills (BKH) Sees Unusually-High Trading Volume

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Black Hills Corp (NYSE:BKH) saw an uptick in trading volume on Friday . 1,428,464 shares changed hands during mid-day trading, an increase of 253% from the previous session’s volume of 404,140 shares.The stock last traded at $73.02 and had previously closed at $72.69.

Several brokerages recently weighed in on BKH. Zacks Investment Research lowered Black Hills from a “buy” rating to a “hold” rating in a report on Tuesday, February 12th. ValuEngine upgraded Black Hills from a “hold” rating to a “buy” rating in a research note on Tuesday, November 20th. Credit Suisse Group raised their target price on Black Hills from $66.00 to $68.00 and gave the stock a “neutral” rating in a research note on Monday, February 11th. Williams Capital downgraded Black Hills from a “buy” rating to a “hold” rating and set a $64.00 target price for the company. in a research note on Wednesday, February 6th. Finally, Bank of America upgraded Black Hills from an “underperform” rating to a “neutral” rating and set a $69.00 target price for the company in a research note on Monday, February 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. Black Hills has an average rating of “Hold” and an average target price of $65.43.

The company has a debt-to-equity ratio of 1.29, a current ratio of 0.78 and a quick ratio of 0.60. The company has a market capitalization of $4.38 billion, a P/E ratio of 20.63, a PEG ratio of 4.57 and a beta of 0.45.

Black Hills (NYSE:BKH) last issued its earnings results on Thursday, February 7th. The utilities provider reported $1.05 EPS for the quarter, topping the consensus estimate of $0.92 by $0.13. Black Hills had a return on equity of 9.75% and a net margin of 14.73%. The business had revenue of $501.20 million during the quarter, compared to the consensus estimate of $466.97 million. During the same quarter last year, the company earned $0.98 EPS. The firm’s revenue was up 10.1% compared to the same quarter last year. Equities analysts forecast that Black Hills Corp will post 3.43 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 15th were paid a $0.505 dividend. The ex-dividend date was Thursday, February 14th. This represents a $2.02 annualized dividend and a yield of 2.77%. Black Hills’s dividend payout ratio is currently 57.06%.

In other Black Hills news, insider David R. Emery sold 2,143 shares of the firm’s stock in a transaction dated Wednesday, February 13th. The stock was sold at an average price of $70.14, for a total value of $150,310.02. Following the completion of the transaction, the insider now owns 205,306 shares in the company, valued at approximately $14,400,162.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Black Hills by 5.3% during the 4th quarter. BlackRock Inc. now owns 7,869,750 shares of the utilities provider’s stock valued at $494,062,000 after acquiring an additional 398,122 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Black Hills by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,162,066 shares of the utilities provider’s stock valued at $299,865,000 after acquiring an additional 81,321 shares during the last quarter. Vanguard Group Inc boosted its position in shares of Black Hills by 1.6% during the 3rd quarter. Vanguard Group Inc now owns 5,162,066 shares of the utilities provider’s stock valued at $299,865,000 after acquiring an additional 81,321 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Black Hills by 3.6% during the 3rd quarter. Franklin Resources Inc. now owns 1,741,864 shares of the utilities provider’s stock valued at $101,185,000 after acquiring an additional 59,852 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of Black Hills by 21.7% during the 3rd quarter. Alliancebernstein L.P. now owns 1,350,389 shares of the utilities provider’s stock valued at $78,444,000 after acquiring an additional 240,640 shares during the last quarter. Hedge funds and other institutional investors own 87.55% of the company’s stock.

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Black Hills Company Profile (NYSE:BKH)

Black Hills Corporation, through its subsidiaries, operates as a vertically-integrated utility company in the United States. The company's Electric Utilities segment generates, transmits, and distributes electricity to approximately 210,000 electric customers in South Dakota, Wyoming, Colorado, and Montana.

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