Black Hills (NYSE:BKH) Releases FY24 Earnings Guidance

Black Hills (NYSE:BKH) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $3.80-$4.00 for the period, compared to the consensus EPS estimate of $3.92. Black Hills also updated its FY 2024 guidance to 3.800-4.000 EPS.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BKH shares. Wells Fargo & Company raised their price objective on shares of Black Hills from $61.00 to $64.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Scotiabank boosted their price objective 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. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat, Black Hills currently has a consensus rating of “Hold” and an average price target of $58.00.

Black Hills Stock Performance

BKH traded up $1.21 during mid-day trading on Friday, reaching $60.78. 456,582 shares of the company traded hands, compared to its average volume of 471,177. The stock has a market capitalization of $4.24 billion, a P/E ratio of 15.05, a P/E/G ratio of 4.16 and a beta of 0.69. Black Hills has a 52-week low of $48.27 and a 52-week high of $62.20. The company has a quick ratio of 0.94, a current ratio of 1.06 and a debt-to-equity ratio of 1.23. The company’s fifty day moving average price is $60.19 and its 200-day moving average price is $57.47.

Black Hills (NYSE:BKH) last issued its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.12). The business had revenue of $401.60 million for the quarter. Black Hills had a net margin of 12.96% and a return on equity of 8.21%. On average, sell-side analysts expect that Black Hills will post 3.91 EPS for the current year.

Black Hills Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Monday, November 18th will be given a $0.65 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.60 annualized dividend and a dividend yield of 4.28%. Black Hills’s payout ratio is 64.36%.

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.