Black Hills Co. (NYSE:BKH) Short Interest Update

by · The Cerbat Gem

Black Hills Co. (NYSE:BKH – Get Free Report) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 2,490,000 shares, a growth of 12.2% from the October 15th total of 2,220,000 shares. Based on an average daily volume of 425,100 shares, the short-interest ratio is presently 5.9 days.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BKH. Wells Fargo & Company lifted their target price 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 lifted their target price on 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 given a hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $58.00.

View Our Latest Analysis on BKH

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Zimmer Partners LP acquired a new stake in Black Hills during the 3rd quarter worth about $96,374,000. AQR Capital Management LLC boosted its position in Black Hills by 31.7% during the 2nd quarter. AQR Capital Management LLC now owns 1,147,939 shares of the utilities provider’s stock worth $62,425,000 after acquiring an additional 275,994 shares during the period. Victory Capital Management Inc. boosted its position in Black Hills by 54.5% during the 2nd quarter. Victory Capital Management Inc. now owns 481,415 shares of the utilities provider’s stock worth $26,179,000 after acquiring an additional 169,827 shares during the period. Jupiter Asset Management Ltd. boosted its position in Black Hills by 39.7% during the 1st quarter. Jupiter Asset Management Ltd. now owns 483,120 shares of the utilities provider’s stock worth $26,378,000 after acquiring an additional 137,356 shares during the period. Finally, Invenomic Capital Management LP acquired a new stake in Black Hills during the 3rd quarter worth about $8,260,000. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Black Hills Trading Up 1.4 %

Shares of NYSE:BKH traded up $0.88 during mid-day trading on Monday, hitting $62.98. The stock had a trading volume of 422,631 shares, compared to its average volume of 474,917. The company’s 50 day moving average is $60.56 and its 200-day moving average is $57.84. Black Hills has a 12-month low of $49.33 and a 12-month high of $63.60. 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 company has a market cap of $4.51 billion, a PE ratio of 16.93, a P/E/G ratio of 4.53 and a beta of 0.69.

Black Hills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Monday, November 18th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.13%. Black Hills’s payout ratio is currently 69.89%.

About Black Hills

(Get Free Report)

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.

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