Black Hills Corporation (BKH) Given New $76.00 Price Target at Williams Capital
Black Hills Corporation (NYSE:BKH) had its target price upped by Williams Capital from $68.00 to $76.00 in a report issued on Monday morning, MarketBeat Ratings reports. They currently have a buy rating on the utilities provider’s stock.
A number of other equities research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Black Hills Corporation from a hold rating to a sell rating in a report on Tuesday, March 21st. Singular Research increased their target price on shares of Black Hills Corporation from $68.00 to $75.00 and gave the stock a buy rating in a report on Wednesday, May 10th. BMO Capital Markets increased their target price on shares of Black Hills Corporation from $67.00 to $74.00 and gave the stock an outperform rating in a report on Friday, May 5th. Finally, Royal Bank Of Canada reiterated a buy rating and set a $70.00 target price on shares of Black Hills Corporation in a report on Friday, March 17th. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $71.29.
Shares of Black Hills Corporation (BKH) opened at 71.79 on Monday. The company has a market cap of $3.84 billion, a P/E ratio of 35.45 and a beta of 0.78. Black Hills Corporation has a 1-year low of $54.76 and a 1-year high of $72.02. The stock’s 50 day moving average is $69.18 and its 200 day moving average is $65.03.
Black Hills Corporation (NYSE:BKH) last released its earnings results on Wednesday, May 3rd. The utilities provider reported $1.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.01. The company had revenue of $554 million for the quarter, compared to analyst estimates of $581 million. Black Hills Corporation had a net margin of 6.53% and a return on equity of 10.55%. The firm’s quarterly revenue was up 23.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.23 EPS. On average, analysts predict that Black Hills Corporation will post $3.60 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Thursday, May 18th were issued a $0.445 dividend. The ex-dividend date was Tuesday, May 16th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 2.49%. Black Hills Corporation’s payout ratio is 89.45%.
Several large investors have recently made changes to their positions in BKH. BlackRock Inc. raised its stake in shares of Black Hills Corporation by 6,088.6% in the first quarter. BlackRock Inc. now owns 8,243,687 shares of the utilities provider’s stock worth $547,958,000 after buying an additional 8,110,479 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Black Hills Corporation by 76.7% in the first quarter. Goldman Sachs Group Inc. now owns 2,322,688 shares of the utilities provider’s stock worth $154,389,000 after buying an additional 1,008,172 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Black Hills Corporation by 13.9% in the first quarter. Vanguard Group Inc. now owns 5,104,297 shares of the utilities provider’s stock worth $339,282,000 after buying an additional 624,839 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Black Hills Corporation by 24.1% in the first quarter. Wellington Management Group LLP now owns 1,938,261 shares of the utilities provider’s stock worth $128,836,000 after buying an additional 376,732 shares during the last quarter. Finally, Kennedy Capital Management Inc. purchased a new stake in shares of Black Hills Corporation during the first quarter worth $18,492,000. Institutional investors and hedge funds own 94.74% of the company’s stock.
About Black Hills Corporation
Black Hills Corporation is a holding company. The Company is an integrated energy company, which is focused primarily on regulated utilities. The Company operates through segments, including Electric Utilities, Gas Utilities, Power Generation, Mining, Oil and Gas, and Corporate. As of December 31, 2016, the Electric Utilities segment generated, transmitted and distributed electricity to approximately 208,500 customers in South Dakota, Wyoming, Colorado and Montana.
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