Black Hills (NYSE:BKH) Updates FY 2024 Earnings Guidance

Black Hills (NYSE:BKH) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 3.800-4.000 for the period, compared to the consensus earnings per share estimate of 3.920. The company issued revenue guidance of -. Black Hills also updated its FY24 guidance to $3.80-$4.00 EPS.

Black Hills Stock Up 2.7 %

Shares of NYSE:BKH traded up $1.56 during midday trading on Wednesday, reaching $60.37. 939,573 shares of the company were exchanged, compared to its average volume of 469,250. The firm has a market cap of $4.21 billion, a PE ratio of 14.56, a P/E/G ratio of 4.18 and a beta of 0.69. The company has a quick ratio of 0.94, a current ratio of 1.06 and a debt-to-equity ratio of 1.23. Black Hills has a fifty-two week low of $48.27 and a fifty-two week high of $62.20. The stock has a fifty day simple moving average of $60.10 and a two-hundred day simple moving average of $57.39.

Black Hills Announces Dividend

The company 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 dividend of $0.65 per share. The ex-dividend date is Monday, November 18th. This represents a $2.60 annualized dividend and a dividend yield of 4.31%. Black Hills’s dividend payout ratio is currently 64.36%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Wells Fargo & Company upped their price target on Black Hills from $61.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Scotiabank boosted their price target on shares of Black Hills from $54.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $58.00.

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.