Black Hills (NYSE:BKH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The firm currently has a $78.00 price objective on the utilities provider’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 10.94% from the company’s previous close.

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 brokerages have also weighed in on BKH. Credit Suisse Group raised their price objective on shares of Black Hills from $66.00 to $68.00 and gave the company a “neutral” rating in a report on Monday. Bank of America upgraded shares of Black Hills from an “underperform” rating to a “neutral” rating and set a $69.00 price target on the stock in a research note on Monday. Scotiabank lowered shares of Black Hills from a “sector perform” rating to a “sell” rating in a research note on Wednesday, December 12th. Williams Capital lowered shares of Black Hills from a “buy” rating to a “hold” rating and set a $64.00 price target on the stock. in a research note on Wednesday, February 6th. Finally, ValuEngine upgraded shares of Black Hills from a “hold” rating to a “buy” rating in a research note on Tuesday, November 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. Black Hills currently has a consensus rating of “Hold” and a consensus target price of $64.86.

Shares of BKH traded up $0.88 during midday trading on Monday, reaching $70.31. The stock had a trading volume of 641,308 shares, compared to its average volume of 374,290. Black Hills has a 1-year low of $50.49 and a 1-year high of $70.33. The firm has a market capitalization of $4.16 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 4.35 and a beta of 0.45. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 1.54.

Black Hills (NYSE:BKH) last announced its quarterly earnings data on Thursday, February 7th. The utilities provider reported $1.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.13. Black Hills had a net margin of 14.73% and a return on equity of 10.21%. The business had revenue of $501.20 million for the quarter, compared to analyst estimates of $466.97 million. During the same period last year, the business earned $0.98 EPS. The company’s revenue was up 10.1% on a year-over-year basis. On average, analysts predict that Black Hills will post 3.43 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the stock. Man Group plc raised its stake in Black Hills by 542.3% during the 3rd quarter. Man Group plc now owns 93,479 shares of the utilities provider’s stock worth $5,431,000 after acquiring an additional 78,926 shares in the last quarter. Moody Aldrich Partners LLC raised its stake in Black Hills by 19.0% during the 3rd quarter. Moody Aldrich Partners LLC now owns 42,990 shares of the utilities provider’s stock worth $2,497,000 after acquiring an additional 6,870 shares in the last quarter. Bailard Inc. raised its stake in Black Hills by 18.1% during the 3rd quarter. Bailard Inc. now owns 14,370 shares of the utilities provider’s stock worth $835,000 after acquiring an additional 2,200 shares in the last quarter. MetLife Investment Advisors LLC raised its stake in Black Hills by 21.9% during the 3rd quarter. MetLife Investment Advisors LLC now owns 70,645 shares of the utilities provider’s stock worth $4,104,000 after acquiring an additional 12,670 shares in the last quarter. Finally, AMP Capital Investors Ltd raised its stake in Black Hills by 11.3% during the 3rd quarter. AMP Capital Investors Ltd now owns 11,811 shares of the utilities provider’s stock worth $677,000 after acquiring an additional 1,200 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Black Hills Company Profile

Black Hills Corporation, through its subsidiaries, operates as a vertically-integrated utility company in the United States. The company's Electric Utilities segment generates, transmits, and distributes electricity to approximately 210,000 electric customers in South Dakota, Wyoming, Colorado, and Montana.

Read More: What is Compound Interest?

Get a free copy of the Zacks research report on Black Hills (BKH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Black Hills (NYSE:BKH)

Receive News & Ratings for Black Hills Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Black Hills and related companies with MarketBeat.com's FREE daily email newsletter.