Black Hills (NYSE:BKH) CFO Sells $1,025,150.00 in Stock

Black Hills Corporation (NYSE:BKH) CFO Kimberly Nooney sold 14,500 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief financial officer owned 34,621 shares in the company, valued at $2,447,704.70. This trade represents a 29.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Black Hills Trading Up 0.2%

Shares of Black Hills stock traded up $0.11 during midday trading on Wednesday, reaching $72.10. The company had a trading volume of 1,615,022 shares, compared to its average volume of 592,400. The stock has a fifty day moving average price of $62.09 and a 200 day moving average price of $59.65. Black Hills Corporation has a fifty-two week low of $54.92 and a fifty-two week high of $72.22. The firm has a market cap of $5.25 billion, a PE ratio of 18.16, a P/E/G ratio of 2.95 and a beta of 0.76. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.64 and a quick ratio of 0.49.

Black Hills (NYSE:BKH) last released its quarterly earnings results on Wednesday, November 5th. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.45. Black Hills had a net margin of 12.68% and a return on equity of 7.81%. The firm had revenue of $430.20 million during the quarter, compared to analyst estimates of $439.96 million. During the same quarter last year, the business earned $0.35 EPS. The company’s revenue was up 7.1% compared to the same quarter last year. Black Hills has set its FY 2025 guidance at 4.000-4.20 EPS. On average, equities analysts anticipate that Black Hills Corporation will post 4.12 earnings per share for the current year.

Black Hills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be paid a $0.676 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, November 17th. Black Hills’s payout ratio is currently 68.18%.

Analysts Set New Price Targets

BKH has been the subject of a number of research analyst reports. Scotiabank upgraded Black Hills from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $66.00 to $81.00 in a report on Friday, November 7th. Bank of America raised shares of Black Hills from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $57.00 to $64.00 in a research report on Wednesday, August 20th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Black Hills in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Black Hills currently has an average rating of “Moderate Buy” and a consensus target price of $71.00.

Institutional Trading of Black Hills

A number of hedge funds and other institutional investors have recently bought and sold shares of BKH. IMA Advisory Services Inc. acquired a new position in shares of Black Hills during the first quarter valued at about $30,000. Clearstead Trust LLC acquired a new stake in shares of Black Hills in the 1st quarter worth about $30,000. Spire Wealth Management lifted its position in Black Hills by 4,115.4% in the 2nd quarter. Spire Wealth Management now owns 548 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 535 shares in the last quarter. TD Waterhouse Canada Inc. acquired a new position in Black Hills during the 2nd quarter valued at about $31,000. Finally, Smartleaf Asset Management LLC boosted its stake in Black Hills by 132.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 576 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 328 shares during the last quarter. Institutional investors own 86.71% of the company’s stock.

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.