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

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 annualized dividend and a dividend yield of 4.14%. The ex-dividend date is Monday, November 18th.

Black Hills has increased its dividend by an average of 4.8% per year over the last three years and has raised its dividend annually for the last 54 consecutive years. Black Hills has a payout ratio of 63.3% meaning 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 Price Performance

BKH opened at $62.74 on Friday. The stock has a fifty day moving average price of $60.49 and a 200 day moving average price of $57.77. The company has a current ratio of 1.12, a quick ratio of 0.83 and a debt-to-equity ratio of 1.20. Black Hills has a 1 year low of $49.33 and a 1 year high of $63.60. The stock has a market cap of $4.49 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 4.53 and a beta of 0.69.

Analyst Ratings Changes

BKH has been the topic of a number of research reports. Scotiabank increased their price objective on Black Hills from $54.00 to $63.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Wells Fargo & Company boosted their target price on shares of Black Hills from $61.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat, Black Hills currently has an average 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.