Black Hills Co. (BKH) to Distribute Quarterly Dividend of $0.68 on March 1st

Black Hills Co. (NYSE:BKH) declared a quarterly dividend on Friday, January 24th,RTT News reports. Investors of record on Tuesday, February 18th will be given a dividend of 0.676 per share by the utilities provider on Saturday, March 1st. This represents a $2.70 dividend on an annualized basis and a yield of 4.70%. This is a positive change from Black Hills’s previous quarterly dividend of $0.65.

Black Hills has raised its dividend payment by an average of 4.3% per year over the last three years and has increased its dividend every year for the last 35 years. Black Hills has a dividend payout ratio of 60.0% indicating that its dividend is sufficiently covered by earnings. Equities 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 $57.59 on Friday. The firm has a market cap of $4.12 billion, a PE ratio of 15.48, a P/E/G ratio of 4.13 and a beta of 0.72. The stock has a 50-day moving average price of $59.91 and a 200-day moving average price of $59.55. Black Hills has a 1 year low of $49.33 and a 1 year high of $65.59. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.12 and a quick ratio of 0.83.

Analyst Ratings Changes

Separately, Scotiabank upped their target price on shares of Black Hills from $63.00 to $67.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $61.25.

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.