Black Hills (NYSE:BKH) Releases FY 2020 Earnings Guidance

Black Hills (NYSE:BKH) issued an update on its FY 2020 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $3.50-3.80 for the period, compared to the Thomson Reuters consensus estimate of $3.68. Black Hills also updated its FY 2019 guidance to $3.40-3.60 EPS.

Black Hills stock traded down $1.51 on Monday, reaching $77.08. 437,120 shares of the stock were exchanged, compared to its average volume of 364,984. The firm has a market cap of $4.72 billion, a PE ratio of 21.77, a PEG ratio of 5.22 and a beta of 0.30. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.67 and a current ratio of 0.82. Black Hills has a twelve month low of $56.42 and a twelve month high of $82.01. The company’s fifty day moving average is $79.39.

Black Hills (NYSE:BKH) last released its earnings results on Thursday, May 2nd. The utilities provider reported $1.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.58 by $0.15. Black Hills had a net margin of 12.91% and a return on equity of 9.97%. The firm had revenue of $597.80 million during the quarter, compared to analyst estimates of $581.85 million. During the same quarter in the previous year, the business earned $1.63 EPS. The business’s revenue was up 3.9% on a year-over-year basis. Equities analysts anticipate that Black Hills will post 3.48 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Monday, August 19th will be issued a dividend of $0.505 per share. The ex-dividend date is Friday, August 16th. This represents a $2.02 annualized dividend and a dividend yield of 2.62%. Black Hills’s payout ratio is 57.06%.

A number of equities analysts have commented on BKH shares. Scotiabank upgraded shares of Black Hills from an underperform rating to a sector perform rating and boosted their price target for the company from $64.00 to $70.00 in a research report on Wednesday, May 8th. Zacks Investment Research downgraded shares of Black Hills from a buy rating to a hold rating in a research report on Monday, July 22nd. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $71.67.

In related news, SVP Brian Iverson sold 6,469 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $77.89, for a total transaction of $503,870.41. Following the transaction, the senior vice president now directly owns 26,108 shares of the company’s stock, valued at $2,033,552.12. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider David R. Emery sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $78.14, for a total transaction of $586,050.00. Following the transaction, the insider now directly owns 167,806 shares in the company, valued at $13,112,360.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,969 shares of company stock valued at $2,272,970. 1.00% of the stock is currently owned by corporate insiders.

Black Hills Company Profile

Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. It operates through Electric Utilities, Gas Utilities, Power Generation, and Mining segments. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 212,000 electric customers in Colorado, Montana, South Dakota, and Wyoming, as well as provides electrical system construction services to large industrial customers.

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