Shares of Black Hills Corp (NYSE:BKH) have been assigned an average recommendation of “Buy” from the ten ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $72.71.
BKH has been the topic of a number of research reports. Williams Capital restated a “buy” rating on shares of Black Hills in a research report on Wednesday, May 6th. Sidoti upgraded shares of Black Hills from a “neutral” rating to a “buy” rating and increased their price target for the company from $66.00 to $69.00 in a research report on Thursday, May 21st. Credit Suisse Group upgraded shares of Black Hills from a “neutral” rating to an “outperform” rating and set a $70.00 price target on the stock in a research report on Tuesday, May 19th. Siebert Williams Shank upgraded shares of Black Hills from a “hold” rating to a “buy” rating and increased their price target for the company from $64.00 to $75.00 in a research report on Wednesday, May 6th. Finally, Wells Fargo & Co cut their price target on shares of Black Hills from $88.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 6th.
In other Black Hills news, CEO Linden R. Evans purchased 1,000 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was bought at an average cost of $57.42 per share, with a total value of $57,420.00. Following the purchase, the chief executive officer now directly owns 118,113 shares of the company’s stock, valued at $6,782,048.46. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 1.00% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its holdings in Black Hills by 0.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 719,579 shares of the utilities provider’s stock valued at $46,074,000 after purchasing an additional 3,871 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Black Hills by 31.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,395 shares of the utilities provider’s stock valued at $362,000 after purchasing an additional 1,522 shares during the last quarter. First Trust Advisors LP lifted its holdings in Black Hills by 26.0% during the 2nd quarter. First Trust Advisors LP now owns 836,319 shares of the utilities provider’s stock valued at $47,386,000 after purchasing an additional 172,753 shares during the last quarter. Pictet Asset Management Ltd. acquired a new stake in Black Hills during the 1st quarter valued at $11,606,000. Finally, Legal & General Group Plc lifted its holdings in Black Hills by 2.9% during the 1st quarter. Legal & General Group Plc now owns 458,408 shares of the utilities provider’s stock valued at $29,392,000 after purchasing an additional 12,905 shares during the last quarter. 85.71% of the stock is owned by institutional investors.
Shares of BKH opened at $56.68 on Friday. The company’s 50 day simple moving average is $59.11 and its 200 day simple moving average is $64.16. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.80 and a current ratio of 1.08. Black Hills has a 1 year low of $48.07 and a 1 year high of $87.12. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of 16.24, a PEG ratio of 2.79 and a beta of 0.30.
Black Hills (NYSE:BKH) last issued its quarterly earnings results on Monday, August 3rd. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.03). The company had revenue of $326.90 million for the quarter, compared to analyst estimates of $395.88 million. Black Hills had a return on equity of 8.50% and a net margin of 11.70%. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the company earned $0.24 EPS. Equities analysts expect that Black Hills will post 3.53 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be paid a dividend of $0.535 per share. The ex-dividend date is Monday, August 17th. This represents a $2.14 annualized dividend and a dividend yield of 3.78%. Black Hills’s dividend payout ratio is currently 60.62%.
Black Hills Company Profile
Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. It operates through Electric Utilities, Gas Utilities, Power Generation, and Mining segments. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 212,000 electric customers in Colorado, Montana, South Dakota, and Wyoming, as well as provides electrical system construction services to large industrial customers.
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