Upgrades Black Hills (NYSE:BKH) to “Hold”

Black Hills (NYSE:BKHGet Free Report) was upgraded by research analysts at from a “sell” rating to a “hold” rating in a report issued on Wednesday.

Several other research firms have also weighed in on BKH. Royal Bank of Canada lowered their target price on shares of Black Hills from $61.00 to $57.00 and set a “sector perform” rating on the stock in a report on Friday, February 9th. Mizuho upgraded Black Hills from an “underperform” rating to a “neutral” rating and set a $53.00 price objective for the company in a research report on Tuesday, November 21st. Finally, Scotiabank upped their target price on shares of Black Hills from $57.00 to $58.00 and gave the company a “sector perform” rating in a research report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $55.80.

Check Out Our Latest Research Report on BKH

Black Hills Stock Up 0.3 %

NYSE:BKH traded up $0.17 during trading hours on Wednesday, reaching $52.20. The company’s stock had a trading volume of 677,005 shares, compared to its average volume of 584,106. Black Hills has a one year low of $46.43 and a one year high of $66.85. The business’s 50-day moving average is $51.89 and its 200-day moving average is $52.09. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.70 and a quick ratio of 0.56. The company has a market cap of $3.56 billion, a price-to-earnings ratio of 13.32 and a beta of 0.64.

Black Hills (NYSE:BKHGet Free Report) last released its quarterly earnings results on Thursday, February 8th. The utilities provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.11. Black Hills had a return on equity of 8.09% and a net margin of 11.25%. The company had revenue of $591.70 million during the quarter, compared to the consensus estimate of $863.67 million. During the same quarter in the prior year, the company posted $1.11 EPS. Equities research analysts predict that Black Hills will post 3.9 EPS for the current year.

Hedge Funds Weigh In On Black Hills

Institutional investors have recently modified their holdings of the business. State Street Corp lifted its stake in Black Hills by 16.1% in the first quarter. State Street Corp now owns 6,059,252 shares of the utilities provider’s stock valued at $466,684,000 after buying an additional 838,590 shares in the last quarter. Zimmer Partners LP bought a new stake in shares of Black Hills in the second quarter valued at about $39,326,000. Capital Research Global Investors acquired a new position in shares of Black Hills during the first quarter worth about $45,758,000. Vanguard Group Inc. grew its holdings in shares of Black Hills by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 8,143,567 shares of the utilities provider’s stock worth $439,345,000 after buying an additional 322,271 shares in the last quarter. Finally, Macquarie Group Ltd. raised its position in Black Hills by 14.6% in the 2nd quarter. Macquarie Group Ltd. now owns 2,502,209 shares of the utilities provider’s stock valued at $182,085,000 after buying an additional 318,024 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

About Black Hills

(Get Free Report)

Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. The company operates in two segments: Electric Utilities and Gas Utilities. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 222,000 electric utility customers in Colorado, Montana, South Dakota, and Wyoming; and owns and operates 1,394 megawatts of generation capacity and 9,106 miles of electric transmission and distribution lines.

Further Reading

Analyst Recommendations for Black Hills (NYSE:BKH)

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