Brokerages Set Black Hills Co. (NYSE:BKH) PT at $55.00

Shares of Black Hills Co. (NYSE:BKH) have received an average recommendation of “Reduce” from the five brokerages that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $55.00.

Several research analysts have commented on BKH shares. StockNews.com downgraded Black Hills from a “hold” rating to a “sell” rating in a research note on Thursday, March 28th. Scotiabank decreased their price objective on Black Hills from $58.00 to $54.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. Finally, Royal Bank of Canada decreased their price target on Black Hills from $61.00 to $57.00 and set a “sector perform” rating on the stock in a research note on Friday, February 9th.

Black Hills Stock Up 1.3 %

Shares of NYSE BKH opened at $56.48 on Friday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.56 and a current ratio of 0.70. Black Hills has a 52 week low of $46.43 and a 52 week high of $66.54. The stock has a market capitalization of $3.86 billion, a P/E ratio of 14.41 and a beta of 0.64. The stock’s fifty day moving average is $53.24 and its 200 day moving average is $52.44.

Black Hills (NYSE:BKH) last posted its quarterly earnings data on Thursday, February 8th. The utilities provider reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. The company had revenue of $591.70 million for the quarter, compared to analyst estimates of $863.67 million. Black Hills had a return on equity of 8.09% and a net margin of 11.25%. During the same period in the previous year, the firm earned $1.11 earnings per share. Sell-side analysts forecast that Black Hills will post 3.9 earnings per share for the current fiscal year.

Black Hills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 17th will be given a $0.65 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.60%. Black Hills’s payout ratio is 66.33%.

Hedge Funds Weigh In On Black Hills

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new stake in Black Hills in the 1st quarter worth about $31,000. Sunbelt Securities Inc. purchased a new stake in shares of Black Hills during the 1st quarter valued at approximately $33,000. Lindbrook Capital LLC raised its position in shares of Black Hills by 678.4% during the 3rd quarter. Lindbrook Capital LLC now owns 685 shares of the utilities provider’s stock valued at $35,000 after buying an additional 597 shares during the period. Fifth Third Bancorp raised its position in Black Hills by 56.3% in the first quarter. Fifth Third Bancorp now owns 650 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 234 shares during the period. Finally, Riverview Trust Co purchased a new stake in Black Hills in the first quarter valued at approximately $38,000. 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.