Black Hills (NYSE:BKH) Price Target Raised to $87.00 at Bank of America

Black Hills (NYSE:BKH) had its price objective lifted by Bank of America from $78.00 to $87.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a buy rating on the utilities provider’s stock.

Several other analysts have also recently issued reports on the company. Weiss Ratings upgraded Black Hills from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, June 24th. Wall Street Zen cut shares of Black Hills from a “hold” rating to a “sell” rating in a research report on Saturday, April 11th. Siebert Williams Shank raised Black Hills from a “hold” rating to a “buy” rating and raised their price target for the stock from $79.00 to $82.00 in a research note on Thursday, March 12th. BMO Capital Markets boosted their price objective on shares of Black Hills from $84.00 to $91.00 and gave the company an “outperform” rating in a research report on Wednesday, April 15th. Finally, Oppenheimer set a $78.00 price target on Black Hills in a research note on Thursday, June 11th. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $82.67.

Black Hills Stock Performance

NYSE:BKH traded up $1.86 during trading hours on Friday, reaching $75.14. The company had a trading volume of 965,310 shares, compared to its average volume of 812,565. The firm has a market cap of $5.72 billion, a price-to-earnings ratio of 19.57, a PEG ratio of 2.90 and a beta of 0.71. The company has a current ratio of 0.65, a quick ratio of 0.53 and a debt-to-equity ratio of 0.99. The firm’s 50 day moving average price is $73.42 and its 200-day moving average price is $72.61. Black Hills has a 52 week low of $55.79 and a 52 week high of $78.69.

Black Hills (NYSE:BKH) last issued its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.79 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.09). The business had revenue of $780.70 million during the quarter, compared to the consensus estimate of $769.19 million. Black Hills had a return on equity of 7.77% and a net margin of 12.61%.Black Hills’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter last year, the company earned $1.87 EPS. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. On average, analysts forecast that Black Hills will post 4.34 EPS for the current year.

Black Hills Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were issued a dividend of $0.703 per share. The ex-dividend date was Friday, May 15th. This represents a $2.81 annualized dividend and a dividend yield of 3.7%. Black Hills’s dividend payout ratio is 73.18%.

Insider Activity at Black Hills

In related news, Director Robert P. Otto sold 4,109 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $74.22, for a total value of $304,969.98. Following the completion of the transaction, the director directly owned 10,886 shares of the company’s stock, valued at $807,958.92. This trade represents a 27.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.56% of the stock is owned by insiders.

Institutional Investors Weigh In On Black Hills

A number of large investors have recently made changes to their positions in BKH. State Street Corp grew its stake in Black Hills by 0.8% during the 2nd quarter. State Street Corp now owns 3,841,615 shares of the utilities provider’s stock valued at $215,515,000 after purchasing an additional 31,093 shares during the last quarter. Capital Research Global Investors boosted its position in Black Hills by 38.7% in the 4th quarter. Capital Research Global Investors now owns 2,275,922 shares of the utilities provider’s stock worth $157,995,000 after purchasing an additional 634,800 shares in the last quarter. Geode Capital Management LLC grew its position 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 valued at $131,548,000 after buying an additional 55,232 shares during the period. Adage Capital Partners GP L.L.C. grew its position in shares of Black Hills by 176.9% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,592,000 shares of the utilities provider’s stock valued at $110,517,000 after acquiring an additional 1,017,000 shares during the period. Finally, AQR Capital Management LLC grew its holdings in Black Hills by 3.2% in the fourth quarter. AQR Capital Management LLC now owns 1,418,384 shares of the utilities provider’s stock valued at $98,464,000 after purchasing an additional 44,334 shares during the period. 86.71% of the stock is owned by hedge funds and other institutional investors.

About Black Hills

Black Hills Corporation is a diversified energy company based in Rapid City, South Dakota, that provides electricity and natural gas distribution services to residential, commercial and industrial customers. Through its regulated utility subsidiaries—Black Hills Power, Cheyenne Light & Power, and Black Hills Energy—the company delivers reliable energy across Colorado, Kansas, Montana, Nebraska, South Dakota and Wyoming.

In addition to its distribution operations, Black Hills owns and operates a generation portfolio that includes natural gas–fired plants, coal-fired units, hydroelectric facilities and wind projects.