Black Hills (NYSE:BKH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday. The firm currently has a $78.00 target price on the utilities provider’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 10.94% from the company’s previous close.
According to Zacks, “Black Hills Corporation is an energy company that generates wholesale electricity and produces natural gas, crude oil and coal. They serve natural gas and electric utility customers in Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming. “
BKH has been the topic of a number of other research reports. Credit Suisse Group boosted their price objective on shares of Black Hills from $65.00 to $69.00 and gave the stock an “outperform” rating in a report on Tuesday, December 4th. Scotiabank cut shares of Black Hills from a “sector perform” rating to a “sell” rating in a research report on Wednesday, December 12th. ValuEngine upgraded shares of Black Hills from a “hold” rating to a “buy” rating in a research report on Tuesday, November 20th. Williams Capital cut shares of Black Hills from a “buy” rating to a “hold” rating and set a $64.00 target price for the company. in a research report on Wednesday, February 6th. Finally, Bank of America upgraded shares of Black Hills from an “underperform” rating to a “neutral” rating and set a $69.00 target price for the company in a research report on Monday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $64.86.
BKH stock traded up $0.88 during trading on Monday, reaching $70.31. 641,308 shares of the company were exchanged, compared to its average volume of 374,290. The company has a market cap of $4.16 billion, a P/E ratio of 19.86, a P/E/G ratio of 4.35 and a beta of 0.45. Black Hills has a 52-week low of $50.49 and a 52-week high of $70.33. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 1.54.
Black Hills (NYSE:BKH) last released its quarterly earnings data on Thursday, February 7th. The utilities provider reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.13. The firm had revenue of $501.20 million for the quarter, compared to the consensus estimate of $466.97 million. Black Hills had a net margin of 14.73% and a return on equity of 10.21%. The firm’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.98 earnings per share. On average, equities research analysts expect that Black Hills will post 3.43 earnings per share for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Black Hills by 8.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,496 shares of the utilities provider’s stock worth $219,000 after acquiring an additional 282 shares during the last quarter. Paradigm Asset Management Co. LLC raised its position in shares of Black Hills by 5.6% in the third quarter. Paradigm Asset Management Co. LLC now owns 6,650 shares of the utilities provider’s stock valued at $386,000 after buying an additional 350 shares during the last quarter. Ffcm LLC raised its position in shares of Black Hills by 303.9% in the fourth quarter. Ffcm LLC now owns 622 shares of the utilities provider’s stock valued at $39,000 after buying an additional 468 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Black Hills in the fourth quarter valued at approximately $41,000. Finally, Arizona State Retirement System raised its position in shares of Black Hills by 1.8% in the fourth quarter. Arizona State Retirement System now owns 38,742 shares of the utilities provider’s stock valued at $2,432,000 after buying an additional 687 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.
About Black Hills
Black Hills Corporation, through its subsidiaries, operates as a vertically-integrated utility company in the United States. The company's Electric Utilities segment generates, transmits, and distributes electricity to approximately 210,000 electric customers in South Dakota, Wyoming, Colorado, and Montana.
Featured Story: Momentum Investing
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Black Hills Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Black Hills and related companies with MarketBeat.com's FREE daily email newsletter.