Black Hills Corporation (NYSE:BKH) Short Interest Update
by Sarita Garza · The Markets DailyBlack Hills Corporation (NYSE:BKH – Get Free Report) saw a significant growth in short interest in January. As of January 15th, there was short interest totaling 6,542,982 shares, a growth of 35.1% from the December 31st total of 4,841,733 shares. Based on an average daily volume of 958,239 shares, the days-to-cover ratio is currently 6.8 days. Approximately 9.0% of the company’s stock are short sold. Approximately 9.0% of the company’s stock are short sold. Based on an average daily volume of 958,239 shares, the days-to-cover ratio is currently 6.8 days.
Insider Activity
In related news, CFO Kimberly F. Nooney sold 14,500 shares of the company’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $70.70, for a total transaction of $1,025,150.00. Following the completion of the sale, the chief financial officer owned 34,621 shares in the company, valued at approximately $2,447,704.70. This represents a 29.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.63% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in BKH. Spire Wealth Management increased its position in shares of Black Hills by 4,115.4% during the second quarter. Spire Wealth Management now owns 548 shares of the utilities provider’s stock valued at $31,000 after buying an additional 535 shares during the period. TD Waterhouse Canada Inc. purchased a new position in Black Hills during the second quarter valued at approximately $31,000. Smartleaf Asset Management LLC increased its holdings in Black Hills by 132.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 576 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 328 shares during the period. Blue Trust Inc. lifted its stake in Black Hills by 37.8% in the 3rd quarter. Blue Trust Inc. now owns 641 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 176 shares in the last quarter. Finally, Ameritas Advisory Services LLC bought a new position in Black Hills in the 2nd quarter valued at $43,000. Institutional investors own 86.71% of the company’s stock.
Black Hills Stock Performance
Black Hills stock traded up $0.99 during midday trading on Tuesday, reaching $73.45. The stock had a trading volume of 412,030 shares, compared to its average volume of 988,118. The firm has a market capitalization of $5.35 billion, a PE ratio of 18.56, a P/E/G ratio of 3.21 and a beta of 0.75. Black Hills has a 12 month low of $54.92 and a 12 month high of $74.23. The company has a quick ratio of 0.67, a current ratio of 0.91 and a debt-to-equity ratio of 1.10. The firm’s 50-day moving average price is $71.18 and its 200 day moving average price is $65.14.
Black Hills (NYSE:BKH – Get Free Report) last posted its earnings results on Thursday, November 6th. The utilities provider reported $0.45 earnings per share for the quarter, hitting the consensus estimate of $0.45. The firm had revenue of $430.20 million during the quarter, compared to the consensus estimate of $439.96 million. Black Hills had a net margin of 12.54% and a return on equity of 7.86%. The company’s revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the company earned $0.35 earnings per share. As a group, research analysts predict that Black Hills will post 4.12 earnings per share for the current fiscal year.
Black Hills Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Tuesday, February 17th will be given a $0.703 dividend. This represents a $2.81 annualized dividend and a dividend yield of 3.8%. This is a boost from Black Hills’s previous quarterly dividend of $0.68. The ex-dividend date is Tuesday, February 17th. Black Hills’s dividend payout ratio (DPR) is presently 70.96%.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Black Hills in a research report on Monday, December 29th. BMO Capital Markets lifted their target price on Black Hills from $70.00 to $82.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 27th. Finally, Scotiabank upgraded shares of Black Hills from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $66.00 to $81.00 in a report on Friday, November 7th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $75.67.
View Our Latest Research Report on Black Hills
About Black Hills
Black Hills Corporation is a diversified energy company based in Rapid City, South Dakota, that provides electricity and natural gas distribution services to residential, commercial and industrial customers. Through its regulated utility subsidiaries—Black Hills Power, Cheyenne Light & Power, and Black Hills Energy—the company delivers reliable energy across Colorado, Kansas, Montana, Nebraska, South Dakota and Wyoming.
In addition to its distribution operations, Black Hills owns and operates a generation portfolio that includes natural gas–fired plants, coal-fired units, hydroelectric facilities and wind projects.