Black Hills Co. (NYSE:BKH) Plans Quarterly Dividend of $0.65

Black Hills Co. (NYSE:BKH) declared a quarterly dividend on Monday, April 22nd, Zacks reports. Investors of record on Friday, May 17th will be paid a dividend of 0.65 per share by the utilities provider on Saturday, June 1st. This represents a $2.60 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date is Thursday, May 16th.

Black Hills has increased its dividend by an average of 4.8% annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Black Hills has a dividend payout ratio of 63.1% meaning its dividend is sufficiently covered by earnings.

Black Hills Stock Performance

BKH stock traded down $0.25 on Wednesday, reaching $54.12. 29,418 shares of the company were exchanged, compared to its average volume of 540,660. Black Hills has a 12 month low of $46.43 and a 12 month high of $66.85. The stock’s fifty day moving average price is $52.79 and its 200 day moving average price is $52.18. The firm has a market capitalization of $3.70 billion, a PE ratio of 13.87 and a beta of 0.64. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.70 and a quick ratio of 0.56.

Black Hills (NYSE:BKH) last announced its earnings results on Thursday, February 8th. The utilities provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. Black Hills had a net margin of 11.25% and a return on equity of 8.09%. The business had revenue of $591.70 million for the quarter, compared to analyst estimates of $863.67 million. During the same quarter in the previous year, the firm posted $1.11 earnings per share. On average, research analysts anticipate that Black Hills will post 3.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BKH. StockNews.com downgraded shares of Black Hills from a “hold” rating to a “sell” rating in a research note on Thursday, March 28th. Scotiabank decreased their price target on shares of Black Hills from $58.00 to $54.00 and set a “sector perform” rating on the stock in a research note on Monday. Finally, Royal Bank of Canada decreased their price target on shares of Black Hills from $61.00 to $57.00 and set a “sector perform” rating on the stock in a research note on Friday, February 9th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat.com, Black Hills currently has an average rating of “Hold” and an average price target of $55.00.

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.