FY2024 EPS Estimates for Black Hills Decreased by Scotiabank

Black Hills Co. (NYSE:BKH) – Stock analysts at Scotiabank lowered their FY2024 earnings estimates for Black Hills in a report issued on Wednesday, January 8th. Scotiabank analyst A. Weisel now anticipates that the utilities provider will post earnings per share of $3.88 for the year, down from their prior forecast 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 Down 0.8 %

Shares of NYSE BKH opened at $55.77 on Thursday. The stock has a market capitalization of $3.99 billion, a P/E ratio of 14.99, a P/E/G ratio of 4.41 and a beta of 0.72. The company has a 50-day moving average price of $60.55 and a 200-day moving average price of $59.22. Black Hills has a 1 year low of $49.33 and a 1 year 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.

Black Hills Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Monday, November 18th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date of this dividend was Monday, November 18th. Black Hills’s dividend payout ratio is currently 69.89%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Thrivent Financial for Lutherans lifted its position in shares of Black Hills by 19.3% during the third quarter. Thrivent Financial for Lutherans now owns 210,768 shares of the utilities provider’s stock valued at $12,882,000 after purchasing an additional 34,129 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Black Hills by 161.5% during the second quarter. Canada Pension Plan Investment Board now owns 54,400 shares of the utilities provider’s stock valued at $2,958,000 after purchasing an additional 33,600 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of Black Hills by 19.3% during the third quarter. HighTower Advisors LLC now owns 102,335 shares of the utilities provider’s stock valued at $6,257,000 after purchasing an additional 16,522 shares in the last quarter. CWA Asset Management Group LLC bought a new position in shares of Black Hills during the third quarter valued at about $1,807,000. Finally, Hsbc Holdings PLC lifted its position in shares of Black Hills by 34.4% during the second quarter. Hsbc Holdings PLC now owns 108,024 shares of the utilities provider’s stock valued at $5,854,000 after purchasing an additional 27,677 shares in the last quarter. 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.