Black Hills Corporation (NYSE:BKH) was upgraded by research analysts at Bank of America Corporation from an “underperform” rating to a “neutral” rating in a note issued to investors on Monday. The firm presently has a $61.00 target price on the utilities provider’s stock. Bank of America Corporation’s price target suggests a potential upside of 3.74% from the stock’s current price.
A number of other research firms also recently weighed in on BKH. Royal Bank Of Canada reissued a “buy” rating and issued a $73.00 target price on shares of Black Hills Corporation in a report on Wednesday, August 9th. Zacks Investment Research raised Black Hills Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Williams Capital downgraded Black Hills Corporation from a “buy” rating to a “hold” rating and lowered their target price for the company from $75.00 to $70.00 in a report on Friday, October 6th. Credit Suisse Group increased their target price on Black Hills Corporation from $75.00 to $77.00 and gave the company an “outperform” rating in a report on Monday, October 2nd. Finally, J P Morgan Chase & Co increased their target price on Black Hills Corporation from $76.00 to $77.00 and gave the company an “overweight” rating in a report on Thursday, October 12th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $68.13.
Black Hills Corporation (NYSE:BKH) opened at $58.80 on Monday. The stock has a market capitalization of $3,119.75, a price-to-earnings ratio of 17.21, a PEG ratio of 3.13 and a beta of 0.78. The company has a current ratio of 0.69, a quick ratio of 0.47 and a debt-to-equity ratio of 1.73. Black Hills Corporation has a 1-year low of $57.26 and a 1-year high of $72.02.
Black Hills Corporation (NYSE:BKH) last announced its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.05). Black Hills Corporation had a net margin of 8.47% and a return on equity of 10.47%. The business had revenue of $342.10 million for the quarter, compared to the consensus estimate of $369.84 million. During the same period in the previous year, the company earned $0.48 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. analysts predict that Black Hills Corporation will post 3.35 EPS for the current year.
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Several large investors have recently added to or reduced their stakes in BKH. OppenheimerFunds Inc. grew its position in shares of Black Hills Corporation by 37.3% during the first quarter. OppenheimerFunds Inc. now owns 6,848 shares of the utilities provider’s stock worth $455,000 after purchasing an additional 1,862 shares in the last quarter. Teachers Advisors LLC grew its position in shares of Black Hills Corporation by 2.4% during the first quarter. Teachers Advisors LLC now owns 87,347 shares of the utilities provider’s stock worth $5,806,000 after purchasing an additional 2,048 shares in the last quarter. HighTower Advisors LLC grew its position in shares of Black Hills Corporation by 12.8% during the first quarter. HighTower Advisors LLC now owns 3,885 shares of the utilities provider’s stock worth $261,000 after purchasing an additional 441 shares in the last quarter. Capstone Asset Management Co. grew its holdings in Black Hills Corporation by 6.6% during the 2nd quarter. Capstone Asset Management Co. now owns 5,189 shares of the utilities provider’s stock valued at $350,000 after buying an additional 320 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its holdings in Black Hills Corporation by 4.3% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 19,547 shares of the utilities provider’s stock valued at $1,319,000 after buying an additional 809 shares in the last quarter. Hedge funds and other institutional investors own 93.89% 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.
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