Black Hills (NYSE:BKH) Sets New 1-Year High – Here’s Why

Black Hills Co. (NYSE:BKH) reached a new 52-week high on Monday . The company traded as high as $62.36 and last traded at $62.35, with a volume of 134715 shares. The stock had previously closed at $60.78.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on BKH shares. Scotiabank lifted their price objective on shares of Black Hills from $54.00 to $63.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Wells Fargo & Company lifted their price target on shares of Black Hills from $61.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat.com, Black Hills has a consensus rating of “Hold” and an average target price of $58.00.

Black Hills Price Performance

The company has a current ratio of 1.12, a quick ratio of 0.83 and a debt-to-equity ratio of 1.20. The company has a market cap of $4.52 billion, a P/E ratio of 16.80, a P/E/G ratio of 4.46 and a beta of 0.69. The company’s 50-day moving average price is $60.31 and its two-hundred day moving average price is $57.62.

Black Hills Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Monday, November 18th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 4.12%. The ex-dividend date is Monday, November 18th. Black Hills’s dividend payout ratio (DPR) is presently 69.89%.

Institutional Trading of Black Hills

Several institutional investors have recently added to or reduced their stakes in the business. Leeward Investments LLC MA boosted its holdings in shares of Black Hills by 5.6% in the 2nd quarter. Leeward Investments LLC MA now owns 170,148 shares of the utilities provider’s stock valued at $9,253,000 after buying an additional 9,048 shares during the period. Jupiter Asset Management Ltd. grew its holdings in shares of Black Hills by 39.7% during the first quarter. Jupiter Asset Management Ltd. now owns 483,120 shares of the utilities provider’s stock valued at $26,378,000 after purchasing an additional 137,356 shares during the last quarter. Canada Pension Plan Investment Board raised its position in shares of Black Hills by 161.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 54,400 shares of the utilities provider’s stock worth $2,958,000 after purchasing an additional 33,600 shares during the period. Empowered Funds LLC bought a new stake in shares of Black Hills in the 1st quarter worth approximately $1,028,000. Finally, CWA Asset Management Group LLC bought a new stake in shares of Black Hills in the 3rd quarter worth approximately $1,807,000. Institutional investors own 86.71% of the company’s stock.

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.