Black Hills Corporation (NYSE:BKH) Short Interest Update

Black Hills Corporation (NYSE:BKH) was the recipient of a large increase in short interest during the month of January. As of January 15th, there was short interest totaling 6,542,982 shares, an increase of 35.1% from the December 31st total of 4,841,733 shares. Based on an average daily volume of 958,239 shares, the days-to-cover ratio is presently 6.8 days. Approximately 9.0% of the company’s shares are sold short. Approximately 9.0% of the company’s shares are sold short. Based on an average daily volume of 958,239 shares, the days-to-cover ratio is presently 6.8 days.

Black Hills Stock Performance

NYSE:BKH opened at $73.53 on Tuesday. The firm’s fifty day simple moving average is $71.18 and its 200 day simple moving average is $65.14. Black Hills has a twelve month low of $54.92 and a twelve month high of $74.23. The company has a quick ratio of 0.67, a current ratio of 0.91 and a debt-to-equity ratio of 1.10. The stock has a market cap of $5.36 billion, a P/E ratio of 18.54, a price-to-earnings-growth ratio of 3.21 and a beta of 0.75.

Black Hills (NYSE:BKH) last issued its earnings results on Thursday, November 6th. The utilities provider reported $0.45 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.45. Black Hills had a return on equity of 7.86% and a net margin of 12.54%.The business had revenue of $430.20 million during the quarter, compared to analyst estimates of $439.96 million. During the same quarter in the previous year, the firm earned $0.35 EPS. Black Hills’s revenue was up 7.1% on a year-over-year basis. As a group, research analysts predict that Black Hills will post 4.12 EPS for the current year.

Black Hills Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Tuesday, February 17th will be given a dividend of $0.703 per share. The ex-dividend date is Tuesday, February 17th. This represents a $2.81 dividend on an annualized basis and a dividend yield of 3.8%. This is an increase from Black Hills’s previous quarterly dividend of $0.68. Black Hills’s dividend payout ratio is currently 70.96%.

Insider Activity

In related news, CFO Kimberly F. Nooney sold 14,500 shares of the business’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $70.70, for a total value of $1,025,150.00. Following the transaction, the chief financial officer owned 34,621 shares in the company, valued at $2,447,704.70. The trade was a 29.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.63% of the company’s stock.

Institutional Trading of Black Hills

Institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Black Hills by 7.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,798 shares of the utilities provider’s stock valued at $2,596,000 after purchasing an additional 2,906 shares during the last quarter. NewEdge Advisors LLC grew its holdings in Black Hills by 83.2% during the first quarter. NewEdge Advisors LLC now owns 3,345 shares of the utilities provider’s stock worth $203,000 after acquiring an additional 1,519 shares during the period. Jones Financial Companies Lllp lifted its holdings in Black Hills by 37.8% in the first quarter. Jones Financial Companies Lllp now owns 3,040 shares of the utilities provider’s stock valued at $184,000 after acquiring an additional 834 shares during the period. United Services Automobile Association acquired a new stake in Black Hills during the first quarter valued at $255,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Black Hills by 5.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 134,673 shares of the utilities provider’s stock valued at $8,168,000 after purchasing an additional 7,332 shares in the last quarter. Institutional investors own 86.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Black Hills in a report on Monday, December 29th. Scotiabank upgraded shares of Black Hills from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $66.00 to $81.00 in a research report on Friday, November 7th. Finally, BMO Capital Markets raised their price target on Black Hills from $70.00 to $82.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 27th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $75.67.

About Black Hills

Black Hills Corporation is a diversified energy company based in Rapid City, South Dakota, that provides electricity and natural gas distribution services to residential, commercial and industrial customers. Through its regulated utility subsidiaries—Black Hills Power, Cheyenne Light & Power, and Black Hills Energy—the company delivers reliable energy across Colorado, Kansas, Montana, Nebraska, South Dakota and Wyoming.

In addition to its distribution operations, Black Hills owns and operates a generation portfolio that includes natural gas–fired plants, coal-fired units, hydroelectric facilities and wind projects.