Black Hills Corp (NYSE:BKH)‘s stock had its “buy” rating reiterated by research analysts at Royal Bank of Canada in a research note issued on Friday. They presently have a $70.00 target price on the stock. Royal Bank of Canada’s price target indicates a potential upside of 7.51% from the stock’s current price.

A number of other equities analysts also recently commented on BKH. Zacks Investment Research downgraded shares of Black Hills Corp from a “buy” rating to a “hold” rating in a research note on Tuesday, February 7th. Credit Suisse Group AG began coverage on shares of Black Hills Corp in a research note on Wednesday, January 25th. They issued an “outperform” rating and a $69.00 price objective for the company. Singular Research began coverage on shares of Black Hills Corp in a research note on Wednesday, December 14th. They issued a “buy” rating and a $68.00 price objective for the company. Finally, TheStreet raised shares of Black Hills Corp from a “c+” rating to a “b” rating in a research note on Tuesday, January 17th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $68.33.

Analyst Recommendations for Black Hills Corp (NYSE:BKH)

Shares of Black Hills Corp (NYSE:BKH) opened at 65.11 on Friday. The stock has a market capitalization of $3.48 billion, a P/E ratio of 47.53 and a beta of 0.71. The firm’s 50-day moving average price is $63.38 and its 200 day moving average price is $60.94. Black Hills Corp has a 52 week low of $54.76 and a 52 week high of $67.02.

Black Hills Corp (NYSE:BKH) last issued its quarterly earnings data on Wednesday, February 1st. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.08. The company earned $463.80 million during the quarter, compared to the consensus estimate of $536.20 million. Black Hills Corp had a net margin of 4.65% and a return on equity of 10.39%. Black Hills Corp’s revenue for the quarter was up 45.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.71 earnings per share. Analysts expect that Black Hills Corp will post $3.54 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Wednesday, February 15th were paid a $0.445 dividend. This is an increase from Black Hills Corp’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, February 13th. This represents a $1.78 dividend on an annualized basis and a yield of 2.73%. Black Hills Corp’s payout ratio is 129.93%.

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In other Black Hills Corp news, SVP Jennifer C. Landis acquired 1,200 shares of Black Hills Corp stock in a transaction that occurred on Wednesday, February 8th. The stock was bought at an average price of $60.85 per share, with a total value of $73,020.00. Following the completion of the purchase, the senior vice president now directly owns 5,917 shares of the company’s stock, valued at approximately $360,049.45. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.30% of the company’s stock.

Institutional investors have recently modified their holdings of the company. BlackRock Fund Advisors increased its position in shares of Black Hills Corp by 5.1% in the third quarter. BlackRock Fund Advisors now owns 5,293,831 shares of the company’s stock worth $324,088,000 after buying an additional 257,852 shares during the last quarter. State Street Corp increased its position in shares of Black Hills Corp by 4.2% in the fourth quarter. State Street Corp now owns 4,939,336 shares of the company’s stock worth $302,978,000 after buying an additional 199,795 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Black Hills Corp by 15.0% in the third quarter. Victory Capital Management Inc. now owns 1,266,957 shares of the company’s stock worth $77,563,000 after buying an additional 165,182 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of Black Hills Corp by 25.0% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,250,000 shares of the company’s stock worth $76,525,000 after buying an additional 250,000 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. increased its position in shares of Black Hills Corp by 3.4% in the third quarter. Duff & Phelps Investment Management Co. now owns 1,073,695 shares of the company’s stock worth $65,732,000 after buying an additional 35,710 shares during the last quarter. 89.27% of the stock is currently owned by institutional investors and hedge funds.

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.

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