Black Hills (NYSE:BKH) PT Lowered to $54.00

Black Hills (NYSE:BKH) had its price objective reduced by equities researchers at Scotiabank from $58.00 to $54.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “sector perform” rating on the utilities provider’s stock. Scotiabank’s target price indicates a potential downside of 0.68% from the stock’s current price.

Other research analysts have also issued research reports about the company. Royal Bank of Canada dropped their target price on Black Hills from $61.00 to $57.00 and set a “sector perform” rating for the company in a research report on Friday, February 9th. StockNews.com lowered Black Hills from a “hold” rating to a “sell” rating in a report on Thursday, March 28th. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $55.00.

Black Hills Stock Up 0.1 %

Shares of NYSE:BKH opened at $54.37 on Monday. Black Hills has a 1 year low of $46.43 and a 1 year high of $66.85. The business has a 50 day simple moving average of $52.79 and a two-hundred day simple moving average of $52.18. The firm has a market capitalization of $3.71 billion, a PE ratio of 13.87 and a beta of 0.64. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.70 and a quick ratio of 0.56.

Black Hills (NYSE:BKH) last announced its earnings results on Thursday, February 8th. The utilities provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.11. Black Hills had a return on equity of 8.09% and a net margin of 11.25%. The business had revenue of $591.70 million during the quarter, compared to analyst estimates of $863.67 million. During the same quarter in the previous year, the business earned $1.11 earnings per share. On average, equities analysts predict that Black Hills will post 3.9 EPS for the current year.

Institutional Trading of Black Hills

A number of hedge funds have recently bought and sold shares of the stock. Financial Advocates Investment Management lifted its holdings in Black Hills by 4.2% during the fourth quarter. Financial Advocates Investment Management now owns 4,988 shares of the utilities provider’s stock worth $269,000 after buying an additional 200 shares during the period. Uncommon Cents Investing LLC lifted its holdings in Black Hills by 2.0% during the first quarter. Uncommon Cents Investing LLC now owns 10,710 shares of the utilities provider’s stock worth $585,000 after buying an additional 210 shares during the period. Legacy Financial Advisors Inc. lifted its holdings in Black Hills by 2.8% during the fourth quarter. Legacy Financial Advisors Inc. now owns 8,188 shares of the utilities provider’s stock worth $442,000 after buying an additional 226 shares during the period. Fifth Third Bancorp lifted its holdings in Black Hills by 56.3% during the first quarter. Fifth Third Bancorp now owns 650 shares of the utilities provider’s stock worth $35,000 after buying an additional 234 shares during the period. Finally, Pinnacle West Asset Management Inc. lifted its holdings in Black Hills by 5.2% during the third quarter. Pinnacle West Asset Management Inc. now owns 4,890 shares of the utilities provider’s stock worth $247,000 after buying an additional 240 shares during the period. Hedge funds and other institutional investors own 86.71% of the company’s stock.

About Black Hills

Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. The company operates in two segments: Electric Utilities and Gas Utilities. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 222,000 electric utility customers in Colorado, Montana, South Dakota, and Wyoming; and owns and operates 1,394 megawatts of generation capacity and 9,106 miles of electric transmission and distribution lines.