Brokerages Set Black Hills Corporation (BKH) PT at $73.40
Shares of Black Hills Corporation (NYSE:BKH) have been given a consensus recommendation of “Buy” by the eight ratings firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $73.40.
BKH has been the subject of a number of recent research reports. Zacks Investment Research upgraded Black Hills Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Williams Capital lifted their target price on Black Hills Corporation from $68.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, June 19th. BidaskClub cut Black Hills Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $70.00 target price on shares of Black Hills Corporation in a report on Friday, June 30th.
Shares of Black Hills Corporation (NYSE:BKH) traded down 0.27% during mid-day trading on Wednesday, reaching $69.63. The company’s stock had a trading volume of 485,691 shares. Black Hills Corporation has a 52-week low of $54.76 and a 52-week high of $72.02. The company has a 50-day moving average price of $69.96 and a 200 day moving average price of $68.51. The company has a market cap of $3.72 billion, a PE ratio of 29.07 and a beta of 0.80.
Black Hills Corporation (NYSE:BKH) last announced its earnings results on Thursday, August 3rd. The utilities provider reported $0.41 EPS for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.10). The company had revenue of $348.00 million during the quarter, compared to analysts’ expectations of $356.85 million. Black Hills Corporation had a return on equity of 10.48% and a net margin of 7.71%. Black Hills Corporation’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.39 EPS. Equities analysts expect that Black Hills Corporation will post $3.58 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 18th were paid a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date was Wednesday, August 16th. Black Hills Corporation’s dividend payout ratio is currently 74.79%.
Several hedge funds have recently modified their holdings of BKH. BlackRock Inc. lifted its stake in shares of Black Hills Corporation by 6,088.6% during the 1st quarter. BlackRock Inc. now owns 8,243,687 shares of the utilities provider’s stock worth $547,958,000 after acquiring an additional 8,110,479 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Black Hills Corporation by 76.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,322,688 shares of the utilities provider’s stock worth $154,389,000 after acquiring an additional 1,008,172 shares during the last quarter. Janus Henderson Group PLC bought a new stake in shares of Black Hills Corporation during the 2nd quarter worth approximately $61,993,000. Vanguard Group Inc. lifted its stake in shares of Black Hills Corporation by 13.9% during the 1st quarter. Vanguard Group Inc. now owns 5,104,297 shares of the utilities provider’s stock worth $339,282,000 after acquiring an additional 624,839 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Black Hills Corporation by 24.1% during the 1st quarter. Wellington Management Group LLP now owns 1,938,261 shares of the utilities provider’s stock worth $128,836,000 after acquiring an additional 376,732 shares during the last quarter. 94.01% of the stock is owned by hedge funds and other institutional investors.
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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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