Credit Suisse Group cut shares of Black Hills (NYSE:BKH) from an outperform rating to a neutral rating in a research report report published on Tuesday, MarketBeat.com reports. They currently have $66.00 price target on the utilities provider’s stock.
A number of other analysts also recently weighed in on the company. Williams Capital downgraded Black Hills from a buy rating to a hold rating and dropped their target price for the stock from $75.00 to $70.00 in a research report on Friday, October 6th. Bank of America initiated coverage on Black Hills in a research report on Tuesday, October 24th. They issued an underperform rating and a $66.00 target price for the company. Wells Fargo & Co initiated coverage on Black Hills in a research report on Friday, October 27th. They issued a market perform rating and a $58.00 target price for the company. Royal Bank of Canada dropped their target price on Black Hills from $72.00 to $64.00 and set an outperform rating for the company in a research report on Monday, November 6th. Finally, JPMorgan Chase & Co. boosted their price objective on Black Hills from $76.00 to $77.00 and gave the company an overweight rating in a research report on Thursday, October 12th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $67.13.
Black Hills (NYSE:BKH) traded down $0.55 during trading hours on Tuesday, reaching $54.44. The company had a trading volume of 663,273 shares, compared to its average volume of 610,441. The company has a market cap of $2,941.12, a P/E ratio of 20.78, a price-to-earnings-growth ratio of 3.27 and a beta of 0.73. Black Hills has a one year low of $54.20 and a one year high of $72.02. The company has a quick ratio of 0.47, a current ratio of 0.69 and a debt-to-equity ratio of 1.73.
Black Hills (NYSE:BKH) last released its earnings results on Thursday, November 2nd. The utilities provider reported $0.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.05). The firm had revenue of $342.10 million during the quarter, compared to the consensus estimate of $369.84 million. Black Hills had a return on equity of 10.47% and a net margin of 8.47%. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.48 EPS. research analysts anticipate that Black Hills will post 3.34 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the business. Northern Trust Corp increased its stake in shares of Black Hills by 3.5% during the second quarter. Northern Trust Corp now owns 844,566 shares of the utilities provider’s stock valued at $56,983,000 after buying an additional 28,213 shares during the period. AXA purchased a new position in shares of Black Hills during the second quarter valued at approximately $5,087,000. Wells Fargo & Company MN increased its stake in shares of Black Hills by 14.0% during the third quarter. Wells Fargo & Company MN now owns 131,621 shares of the utilities provider’s stock valued at $9,065,000 after buying an additional 16,214 shares during the period. Stevens Capital Management LP increased its stake in shares of Black Hills by 1,250.2% during the second quarter. Stevens Capital Management LP now owns 43,679 shares of the utilities provider’s stock valued at $2,947,000 after buying an additional 40,444 shares during the period. Finally, Rothschild Asset Management Inc. increased its stake in shares of Black Hills by 18.8% during the third quarter. Rothschild Asset Management Inc. now owns 517,539 shares of the utilities provider’s stock valued at $35,643,000 after buying an additional 81,825 shares during the period. Hedge funds and other institutional investors own 95.14% of the company’s stock.
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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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