Black Hills Co. (NYSE:BKH) Declares $0.65 Quarterly Dividend

Black Hills Co. (NYSE:BKH) declared a quarterly dividend on Monday, October 28th,NASDAQ Dividends reports. Stockholders of record on Monday, November 18th will be given a dividend of 0.65 per share by the utilities provider on Sunday, December 1st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date is Monday, November 18th.

Black Hills has increased its dividend payment by an average of 4.8% per year over the last three years and has increased its dividend annually for the last 54 consecutive years. Black Hills has a dividend payout ratio of 63.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Black Hills to earn $4.13 per share next year, which means the company should continue to be able to cover its $2.60 annual dividend with an expected future payout ratio of 63.0%.

Black Hills Stock Up 0.1 %

Shares of NYSE BKH opened at $62.74 on Friday. The firm’s 50 day moving average price is $60.49 and its 200 day moving average price is $57.75. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.83 and a current ratio of 1.12. The firm has a market cap of $4.49 billion, a P/E ratio of 16.87, a price-to-earnings-growth ratio of 4.56 and a beta of 0.69. Black Hills has a 1 year low of $49.33 and a 1 year high of $63.60.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BKH. Wells Fargo & Company raised their price objective on Black Hills from $61.00 to $64.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Scotiabank raised their price target on Black Hills from $54.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat, Black Hills presently has a consensus rating of “Hold” and an average price target of $58.00.

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.