Black Hills (BKH) Upgraded at Bank of America

Bank of America upgraded shares of Black Hills (NYSE:BKH) from an underperform rating to a neutral rating in a report released on Monday, Marketbeat Ratings reports. The brokerage currently has $69.00 price target on the utilities provider’s stock.

Several other brokerages have also recently commented on BKH. Credit Suisse Group cut Black Hills from an outperform rating to a neutral rating and reduced their target price for the company from $69.00 to $66.00 in a report on Wednesday, January 23rd. They noted that the move was a valuation call. Williams Capital cut Black Hills from a buy rating to a hold rating and set a $64.00 target price on the stock. in a report on Wednesday, February 6th. Scotiabank cut Black Hills from a sector perform rating to a sell rating in a report on Wednesday, December 12th. ValuEngine upgraded Black Hills from a hold rating to a buy rating in a report on Tuesday, November 20th. Finally, Zacks Investment Research cut Black Hills from a buy rating to a hold rating in a report on Tuesday, December 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. Black Hills currently has an average rating of Hold and a consensus target price of $64.86.

Black Hills stock opened at $70.39 on Monday. Black Hills has a 1 year low of $50.49 and a 1 year high of $70.70. The company has a market capitalization of $4.16 billion, a PE ratio of 19.88, a PEG ratio of 4.35 and a beta of 0.45. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.53 and a quick ratio of 0.36.

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

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 15th will be issued a dividend of $0.505 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend is Thursday, February 14th. Black Hills’s payout ratio is 57.06%.

Institutional investors have recently bought and sold shares of the business. Ffcm LLC lifted its holdings in shares of Black Hills by 303.9% in the 4th quarter. Ffcm LLC now owns 622 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 468 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of Black Hills in the 4th quarter worth $41,000. Ruggie Capital Group bought a new position in shares of Black Hills in the 4th quarter worth $67,000. Fort L.P. bought a new position in shares of Black Hills in the 4th quarter worth $72,000. Finally, FMR LLC bought a new position in shares of Black Hills in the 3rd quarter worth $136,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

About Black Hills

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.

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Analyst Recommendations for Black Hills (NYSE:BKH)

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