Black Hills (NYSE:BKH) Issues FY24 Earnings Guidance

Black Hills (NYSE:BKH) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $3.80-$4.00 for the period, compared to the consensus earnings per share estimate of $3.92.

Black Hills Stock Up 2.7 %

Shares of BKH traded up $1.56 during trading hours on Wednesday, hitting $60.37. The stock had a trading volume of 939,573 shares, compared to its average volume of 469,250. The firm has a market capitalization of $4.21 billion, a P/E ratio of 14.56, a price-to-earnings-growth ratio of 4.18 and a beta of 0.69. Black Hills has a 1-year low of $48.27 and a 1-year high of $62.20. The firm has a 50 day simple moving average of $60.10 and a 200-day simple moving average of $57.39. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.06 and a quick ratio of 0.94.

Black Hills Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Monday, November 18th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date of this dividend is Monday, November 18th. Black Hills’s dividend payout ratio (DPR) is 64.36%.

Analyst Ratings Changes

BKH has been the topic of a number of analyst reports. Scotiabank upped their target price on shares of Black Hills from $54.00 to $63.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Wells Fargo & Company increased their price objective on 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 investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $58.00.

About Black Hills

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.