Black Hills (NYSE:BKH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday, Zacks.com reports.
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. “
BKH has been the subject of several other reports. Bank of America raised Black Hills from an “underperform” rating to a “neutral” rating and set a $69.00 target price for the company in a report on Monday, February 11th. Credit Suisse Group upped their target price on Black Hills from $66.00 to $68.00 and gave the company a “neutral” rating in a report on Monday, February 11th. Williams Capital reaffirmed a “hold” rating on shares of Black Hills in a report on Monday, March 18th. Finally, Scotiabank raised Black Hills from an “underperform” rating to a “sector perform” rating and increased their price objective for the company from $64.00 to $70.00 in a report on Wednesday, May 8th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $68.71.
BKH stock opened at $75.80 on Tuesday. The company has a market capitalization of $4.61 billion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 4.60 and a beta of 0.44. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.82 and a quick ratio of 0.67. Black Hills has a 12-month low of $55.07 and a 12-month high of $76.70.
Black Hills (NYSE:BKH) last released its earnings results on Thursday, May 2nd. The utilities provider reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.15. The company had revenue of $597.80 million during the quarter, compared to analyst estimates of $581.85 million. Black Hills had a return on equity of 9.97% and a net margin of 12.91%. Black Hills’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.63 earnings per share. Analysts anticipate that Black Hills will post 3.48 earnings per share for the current fiscal year.
In other Black Hills news, insider David R. Emery sold 7,500 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $71.31, for a total transaction of $534,825.00. Following the completion of the transaction, the insider now directly owns 190,306 shares of the company’s stock, valued at $13,570,720.86. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.00% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Lenox Wealth Management Inc. bought a new position in Black Hills during the first quarter valued at $30,000. Ffcm LLC boosted its holdings in shares of Black Hills by 303.9% in the fourth quarter. Ffcm LLC now owns 622 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 468 shares during the period. Meeder Asset Management Inc. bought a new position in shares of Black Hills in the fourth quarter worth $41,000. AdvisorNet Financial Inc bought a new position in shares of Black Hills in the first quarter worth $44,000. Finally, Ruggie Capital Group bought a new position in shares of Black Hills in the fourth quarter worth $67,000. 86.41% of the stock is owned by institutional investors and hedge funds.
About Black Hills
Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. It operates through Electric Utilities, Gas Utilities, Power Generation, and Mining segments. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 212,000 electric customers in Colorado, Montana, South Dakota, and Wyoming, as well as provides electrical system construction services to large industrial customers.
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