Black Hills Corporation (NYSE:BKH) Earns “Buy” Rating from Royal Bank Of Canada

Royal Bank Of Canada restated their buy rating on shares of Black Hills Corporation (NYSE:BKH) in a report published on Wednesday. Royal Bank Of Canada currently has a $73.00 price target on the utilities provider’s stock.

A number of other research analysts also recently weighed in on the stock. Singular Research increased their price objective on shares of Black Hills Corporation from $68.00 to $75.00 and gave the company a buy rating in a research report on Wednesday, May 10th. BMO Capital Markets increased their price objective on shares of Black Hills Corporation from $67.00 to $74.00 and gave the company an outperform rating in a research report on Friday, May 5th. Williams Capital increased their price objective on shares of Black Hills Corporation from $68.00 to $76.00 and gave the company a buy rating in a research report on Monday, June 19th. Finally, BidaskClub downgraded shares of Black Hills Corporation from a buy rating to a hold rating in a research report on Thursday, June 29th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $72.50.

Shares of Black Hills Corporation (NYSE BKH) opened at 69.52 on Wednesday. The stock’s 50 day moving average is $69.16 and its 200 day moving average is $67.18. Black Hills Corporation has a 52 week low of $54.76 and a 52 week high of $72.02. The stock has a market cap of $3.72 billion, a price-to-earnings ratio of 29.03 and a beta of 0.82.

Black Hills Corporation (NYSE:BKH) last issued its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.10. The company had revenue of $348 million for the quarter, compared to the consensus estimate of $356.85 million. Black Hills Corporation had a net margin of 7.71% and a return on equity of 10.48%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the company earned $0.39 EPS. On average, equities analysts forecast that Black Hills Corporation will post $3.51 EPS for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be given a $0.445 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $1.78 annualized dividend and a yield of 2.56%. Black Hills Corporation’s payout ratio is presently 74.79%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BKH. Teachers Advisors LLC increased its position in Black Hills Corporation by 2.6% in the fourth quarter. Teachers Advisors LLC now owns 85,299 shares of the utilities provider’s stock valued at $5,232,000 after buying an additional 2,198 shares during the last quarter. Capstone Asset Management Co. increased its position in Black Hills Corporation by 28.8% in the first quarter. Capstone Asset Management Co. now owns 4,869 shares of the utilities provider’s stock valued at $324,000 after buying an additional 1,090 shares during the last quarter. Honkamp Krueger Financial Services Inc. increased its position in Black Hills Corporation by 881.3% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 39,850 shares of the utilities provider’s stock valued at $2,649,000 after buying an additional 35,789 shares during the last quarter. Louisiana State Employees Retirement System increased its position in Black Hills Corporation by 3.1% in the first quarter. Louisiana State Employees Retirement System now owns 13,500 shares of the utilities provider’s stock valued at $897,000 after buying an additional 400 shares during the last quarter. Finally, Bollard Group LLC increased its position in Black Hills Corporation by 0.7% in the first quarter. Bollard Group LLC now owns 4,928 shares of the utilities provider’s stock valued at $328,000 after buying an additional 33 shares during the last quarter. Institutional investors and hedge funds own 94.67% of the company’s stock.

About Black Hills Corporation

Black Hills Corporation is a holding company. The Company is an integrated energy company, which is focused primarily on regulated utilities. The Company operates through segments, including Electric Utilities, Gas Utilities, Power Generation, Mining, Oil and Gas, and Corporate. As of December 31, 2016, the Electric Utilities segment generated, transmitted and distributed electricity to approximately 208,500 customers in South Dakota, Wyoming, Colorado and Montana.

Analyst Recommendations for Black Hills Corporation (NYSE:BKH)

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