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.
Further Reading: Investing in Growth Stocks
Receive News & Ratings for Black Hills Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Black Hills and related companies with MarketBeat.com's FREE daily email newsletter.