Black Hills Corp. (BKH) Shares Gap Up to $59.33
Shares of Black Hills Corp. (NYSE:BKH) gapped up prior to trading on Friday . The stock had previously closed at $59.14, but opened at $59.33. Black Hills Corp. shares last traded at $59.60, with a volume of 170,671 shares changing hands.
BKH has been the topic of a number of recent research reports. Zacks Investment Research downgraded Black Hills Corp. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 19th. JPMorgan Chase & Co. initiated coverage on Black Hills Corp. in a research report on Monday, April 25th. They issued an “overweight” rating and a $62.00 target price on the stock. Bank of America Corp. reaffirmed a “buy” rating on shares of Black Hills Corp. in a research report on Tuesday, May 24th. BMO Capital Markets reaffirmed a “buy” rating on shares of Black Hills Corp. in a research report on Monday, April 18th. Finally, Williams Capital lifted their target price on Black Hills Corp. from $63.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, May 5th. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $62.17.
The firm has a market capitalization of $3.11 billion and a price-to-earnings ratio of 174.59. The company has a 50-day moving average price of $62.11 and a 200-day moving average price of $59.10.
Black Hills Corp. (NYSE:BKH) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.39 EPS for the quarter, missing the Zacks’ consensus estimate of $0.53 by $0.14. During the same quarter last year, the company earned $0.56 EPS. On average, equities analysts forecast that Black Hills Corp. will post $3.01 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Thursday, August 18th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Tuesday, August 16th. This represents a $1.68 dividend on an annualized basis and a yield of 2.83%.
Several institutional investors recently added to or reduced their stakes in the company. Comerica Bank boosted its position in Black Hills Corp. by 13.9% in the fourth quarter. Comerica Bank now owns 36,302 shares of the company’s stock worth $1,723,000 after buying an additional 4,423 shares during the period. American International Group Inc. boosted its position in Black Hills Corp. by 9.2% in the fourth quarter. American International Group Inc. now owns 124,533 shares of the company’s stock worth $5,782,000 after buying an additional 10,446 shares during the period. Systematic Financial Management LP boosted its position in Black Hills Corp. by 25.1% in the fourth quarter. Systematic Financial Management LP now owns 60,070 shares of the company’s stock worth $2,789,000 after buying an additional 12,040 shares during the period. New York State Common Retirement Fund boosted its position in Black Hills Corp. by 14.3% in the fourth quarter. New York State Common Retirement Fund now owns 104,777 shares of the company’s stock worth $4,865,000 after buying an additional 13,074 shares during the period. Finally, KBC Group NV boosted its position in Black Hills Corp. by 120.2% in the fourth quarter. KBC Group NV now owns 42,980 shares of the company’s stock worth $1,996,000 after buying an additional 23,462 shares during the period.
Black Hills Corporation is a holding company. The Company is an integrated energy company, which operates in the United States with two business groups: Utilities and Non-regulated Energy. Its Utilities Group consists of regulated Electric Utilities and regulated Gas Utilities segments, and the Company’s Non-regulated Energy Group consists of Power Generation, Coal Mining, and Oil and Gas segments.
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