FY2024 EPS Estimates for Black Hills Lowered by Scotiabank

Black Hills Co. (NYSE:BKH) – Equities research analysts at Scotiabank decreased their FY2024 EPS estimates for Black Hills in a research report issued on Wednesday, January 8th. Scotiabank analyst A. Weisel now expects that the utilities provider will earn $3.88 per share for the year, down from their prior estimate of $3.92. Scotiabank currently has a “Sector Perform” rating and a $67.00 target price on the stock. The consensus estimate for Black Hills’ current full-year earnings is $3.91 per share. Scotiabank also issued estimates for Black Hills’ FY2026 earnings at $4.41 EPS.

Black Hills Stock Performance

BKH stock opened at $56.11 on Thursday. The company has a 50 day moving average price of $60.61 and a 200 day moving average price of $59.24. Black Hills has a fifty-two week low of $49.33 and a fifty-two week high of $65.59. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.12 and a quick ratio of 0.83. The stock has a market capitalization of $4.02 billion, a PE ratio of 15.08, a price-to-earnings-growth ratio of 4.41 and a beta of 0.72.

Black Hills Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Monday, November 18th were given a dividend of $0.65 per share. The ex-dividend date was Monday, November 18th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.63%. Black Hills’s payout ratio is currently 69.89%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BKH. Zimmer Partners LP bought a new stake in shares of Black Hills during the third quarter worth approximately $96,374,000. Franklin Resources Inc. raised its position in shares of Black Hills by 109.8% during the 3rd quarter. Franklin Resources Inc. now owns 882,646 shares of the utilities provider’s stock valued at $53,356,000 after acquiring an additional 461,894 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Black Hills by 31.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,147,939 shares of the utilities provider’s stock valued at $62,425,000 after purchasing an additional 275,994 shares during the period. Victory Capital Management Inc. boosted its position in shares of Black Hills by 54.5% in the 2nd quarter. Victory Capital Management Inc. now owns 481,415 shares of the utilities provider’s stock worth $26,179,000 after purchasing an additional 169,827 shares during the last quarter. Finally, Invenomic Capital Management LP acquired a new stake in shares of Black Hills during the third quarter worth $8,260,000. 86.71% of the stock is currently owned by institutional investors and hedge funds.

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.