Scotiabank Decreases Earnings Estimates for Black Hills

Black Hills Co. (NYSE:BKH) – Research analysts at Scotiabank dropped their FY2024 earnings per share (EPS) 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 previous 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 Performance

NYSE BKH opened at $56.11 on Thursday. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.12 and a quick ratio of 0.83. The company has a market cap of $4.02 billion, a P/E ratio of 15.08, a P/E/G ratio of 4.41 and a beta of 0.72. The stock has a 50-day moving average of $60.55 and a two-hundred day moving average of $59.22. Black Hills has a 1-year low of $49.33 and a 1-year high of $65.59.

Black Hills Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Monday, November 18th were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $2.60 dividend on an annualized basis and a yield of 4.63%. Black Hills’s dividend payout ratio (DPR) is presently 69.89%.

Institutional Investors Weigh In On Black Hills

Large investors have recently bought and sold shares of the stock. Versant Capital Management Inc grew its stake in shares of Black Hills by 181.5% during the fourth quarter. Versant Capital Management Inc now owns 473 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 305 shares in the last quarter. Blue Trust Inc. lifted its holdings in Black Hills by 84.9% during the 3rd quarter. Blue Trust Inc. now owns 577 shares of the utilities provider’s stock worth $35,000 after buying an additional 265 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Black Hills during the 3rd quarter worth about $45,000. Quarry LP increased its holdings in shares of Black Hills by 158.0% in the 2nd quarter. Quarry LP now owns 841 shares of the utilities provider’s stock valued at $46,000 after acquiring an additional 515 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. raised its position in shares of Black Hills by 972.3% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 890 shares of the utilities provider’s stock worth $48,000 after acquiring an additional 807 shares in the last quarter. Hedge funds and other 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.