Black Hills (NYSE:BKH) Stock Picked Up by Analysts at Freedom Broker

Freedom Broker started coverage on shares of Black Hills (NYSE:BKH) in a research note issued to investors on Wednesday, Benzinga reports. The brokerage set a “hold” rating and a $69.00 price target on the utilities provider’s stock. Freedom Broker’s target price suggests a potential downside of 1.74% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Oppenheimer set a $78.00 price objective on Black Hills in a research report on Thursday, June 11th. Wall Street Zen raised Black Hills from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings raised shares of Black Hills from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 24th. Bank of America lifted their price target on shares of Black Hills from $87.00 to $97.00 and gave the stock a “buy” rating in a report on Monday, September 21st. Finally, BMO Capital Markets lowered their target price on Black Hills from $86.00 to $85.00 and set an “outperform” rating for the company in a research report on Wednesday, July 22nd. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $81.29.

Black Hills Price Performance

Shares of BKH stock traded down $0.05 during trading hours on Wednesday, reaching $70.22. The company’s stock had a trading volume of 1,050,857 shares, compared to its average volume of 957,555. The firm’s 50 day simple moving average is $72.52 and its 200-day simple moving average is $72.89. The company has a market capitalization of $5.35 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 2.76 and a beta of 0.71. Black Hills has a fifty-two week low of $59.33 and a fifty-two week high of $78.69. The company has a quick ratio of 0.41, a current ratio of 0.52 and a debt-to-equity ratio of 0.99.

Black Hills (NYSE:BKH) last released its earnings results on Wednesday, August 5th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. The firm had revenue of $452.80 million for the quarter, compared to analysts’ expectations of $490.89 million. Black Hills had a return on equity of 7.98% and a net margin of 13.01%.The business’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.38 earnings per share. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. Sell-side analysts forecast that Black Hills will post 4.34 earnings per share for the current year.

Hedge Funds Weigh In On Black Hills

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of Black Hills during the 2nd quarter worth approximately $928,675,000. Capital Research Global Investors lifted its position in shares of Black Hills by 38.7% during the 4th quarter. Capital Research Global Investors now owns 2,275,922 shares of the utilities provider’s stock valued at $157,995,000 after acquiring an additional 634,800 shares during the period. Geode Capital Management LLC boosted its stake in Black Hills by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 1,894,539 shares of the utilities provider’s stock worth $131,548,000 after acquiring an additional 55,232 shares in the last quarter. Engineers Gate Manager LP boosted its stake in Black Hills by 35.7% during the second quarter. Engineers Gate Manager LP now owns 1,442,064 shares of the utilities provider’s stock worth $107,290,000 after acquiring an additional 379,211 shares in the last quarter. Finally, Cohen & Steers Inc. grew its holdings in Black Hills by 17.8% in the fourth quarter. Cohen & Steers Inc. now owns 1,385,759 shares of the utilities provider’s stock worth $96,199,000 after purchasing an additional 209,135 shares during the period. 86.71% of the stock is currently owned by institutional investors.

Black Hills Company Profile

Black Hills Corporation (NYSE:BKH) is a regulated utility holding company headquartered in Rapid City, South Dakota. Through its operating subsidiaries, the company provides electric and natural gas utility services to residential, commercial, industrial and other customers.

Black Hills owns and operates electric generation, transmission and distribution facilities, as well as natural gas distribution, storage and transportation infrastructure. Its electric utilities serve customers in Colorado, Montana, South Dakota and Wyoming, while its natural gas utilities operate in Arkansas, Colorado, Iowa, Kansas, Nebraska and Wyoming.

The company traces its history to the development of utility services in the Black Hills region and was incorporated as Black Hills Corporation in 1941.