Shares of Black Hills Corp (NYSE:BKH) have earned an average recommendation of “Buy” from the eleven ratings firms that are presently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $68.13.
BKH has been the topic of several research analyst reports. Zacks Investment Research raised shares of Black Hills from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Williams Capital cut shares of Black Hills from a “buy” rating to a “hold” rating and cut their target price for the stock from $75.00 to $70.00 in a report on Friday, October 6th. Wells Fargo & Company initiated coverage on shares of Black Hills in a report on Friday, October 27th. They issued a “market perform” rating and a $58.00 target price on the stock. Bank of America raised shares of Black Hills from an “underperform” rating to a “neutral” rating and set a $61.00 target price on the stock in a report on Monday, November 13th. Finally, Credit Suisse Group raised their target price on shares of Black Hills from $75.00 to $77.00 and gave the stock an “outperform” rating in a report on Monday, October 2nd.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio increased its stake in shares of Black Hills by 2.6% during the second quarter. Public Employees Retirement System of Ohio now owns 3,232 shares of the utilities provider’s stock valued at $218,000 after acquiring an additional 81 shares during the period. Virginia Retirement Systems ET AL increased its stake in shares of Black Hills by 0.4% during the second quarter. Virginia Retirement Systems ET AL now owns 26,600 shares of the utilities provider’s stock valued at $1,795,000 after acquiring an additional 100 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Black Hills by 8.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,950 shares of the utilities provider’s stock valued at $132,000 after acquiring an additional 146 shares during the period. Advisor Group Inc. increased its stake in shares of Black Hills by 7.7% during the second quarter. Advisor Group Inc. now owns 2,119 shares of the utilities provider’s stock valued at $142,000 after acquiring an additional 151 shares during the period. Finally, WFG Advisors LP increased its stake in shares of Black Hills by 5.4% during the second quarter. WFG Advisors LP now owns 3,439 shares of the utilities provider’s stock valued at $232,000 after acquiring an additional 176 shares during the period. Institutional investors and hedge funds own 95.14% of the company’s stock.
Black Hills (NYSE:BKH) traded down $0.40 during trading hours on Friday, reaching $58.20. 430,300 shares of the company’s stock were exchanged, compared to its average volume of 371,305. The company has a current ratio of 0.69, a quick ratio of 0.47 and a debt-to-equity ratio of 1.73. Black Hills has a one year low of $57.01 and a one year high of $72.02. The stock has a market cap of $3,134.20, a PE ratio of 17.29, a P/E/G ratio of 3.14 and a beta of 0.73.
Black Hills (NYSE:BKH) last issued its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.50 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.05). Black Hills had a return on equity of 10.47% and a net margin of 8.47%. The company had revenue of $342.10 million for the quarter, compared to the consensus estimate of $369.84 million. During the same period in the previous year, the business posted $0.48 EPS. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. analysts predict that Black Hills will post 3.35 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 17th were paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend was Thursday, November 16th. This is a positive change from Black Hills’s previous quarterly dividend of $0.45. Black Hills’s dividend payout ratio (DPR) is currently 72.52%.
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Black Hills Company Profile
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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