Black Hills Corp. (BKH) Raised to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Black Hills Corp. (NYSE:BKH) from a hold rating to a buy rating in a research note issued to investors on Wednesday. The firm currently has $64.00 price target on the stock.
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. “
A number of other equities analysts have also recently commented on the stock. TheStreet cut shares of Black Hills Corp. from a buy rating to a hold rating in a research report on Tuesday, September 6th. JPMorgan Chase & Co. raised their price target on shares of Black Hills Corp. from $62.00 to $67.00 and gave the stock an overweight rating in a report on Friday, August 5th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $61.33.
Shares of Black Hills Corp. (NYSE:BKH) opened at 56.66 on Wednesday. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of 166.65 and a beta of 0.76. The company has a 50 day moving average of $59.73 and a 200-day moving average of $60.45. Black Hills Corp. has a 12-month low of $40.00 and a 12-month high of $64.58.
Black Hills Corp. (NYSE:BKH) last issued its earnings results on Wednesday, August 3rd. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by $0.14. Black Hills Corp. had a return on equity of 9.94% and a net margin of 1.22%. During the same quarter in the previous year, the firm posted $0.56 earnings per share. Analysts predict that Black Hills Corp. will post $3.01 EPS for the current year.
Large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC raised its stake in shares of Black Hills Corp. by 202.4% in the first quarter. Renaissance Technologies LLC now owns 602,400 shares of the company’s stock worth $36,222,000 after buying an additional 403,200 shares during the last quarter. RS Investment Management Co. LLC raised its stake in shares of Black Hills Corp. by 14.9% in the second quarter. RS Investment Management Co. LLC now owns 302,745 shares of the company’s stock worth $19,085,000 after buying an additional 39,275 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in shares of Black Hills Corp. by 15.4% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,500,000 shares of the company’s stock worth $90,195,000 after buying an additional 200,000 shares during the last quarter. Monarch Partners Asset Management LLC raised its stake in shares of Black Hills Corp. by 35.1% in the second quarter. Monarch Partners Asset Management LLC now owns 353,970 shares of the company’s stock worth $22,314,000 after buying an additional 91,900 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Black Hills Corp. by 2,854.0% in the second quarter. JPMorgan Chase & Co. now owns 141,675 shares of the company’s stock worth $8,931,000 after buying an additional 136,879 shares during the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.
About Black Hills Corp.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Black Hills Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Black Hills Corp. and related companies with MarketBeat.com's FREE daily email newsletter.