Black Hills (NYSE:BKH – Get Free Report) was upgraded by investment analysts at Bank of America from a “neutral” rating to a “buy” rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage presently has a $78.00 target price on the utilities provider’s stock, up from their prior target price of $76.00. Bank of America‘s price objective would suggest a potential upside of 8.21% from the stock’s previous close.
Other equities analysts have also issued research reports about the company. LADENBURG THALM/SH SH began coverage on Black Hills in a research note on Wednesday, April 1st. They issued a “buy” rating and a $77.00 price target on the stock. BMO Capital Markets lifted their price target on Black Hills from $84.00 to $91.00 and gave the company an “outperform” rating in a research note on Wednesday, April 15th. Siebert Williams Shank upgraded Black Hills from a “hold” rating to a “buy” rating and lifted their price target for the company from $79.00 to $82.00 in a research note on Thursday, March 12th. Wall Street Zen lowered Black Hills from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Finally, Weiss Ratings lowered Black Hills from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday. Six analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $81.80.
View Our Latest Stock Analysis on BKH
Black Hills Stock Up 6.3%
Black Hills (NYSE:BKH – Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.88 by ($0.09). Black Hills had a net margin of 12.61% and a return on equity of 7.77%. The business had revenue of $780.70 million during the quarter, compared to the consensus estimate of $769.19 million. During the same quarter in the previous year, the business posted $1.87 EPS. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. Equities analysts expect that Black Hills will post 4.34 earnings per share for the current fiscal year.
Insider Buying and Selling at Black Hills
In related news, Director Robert P. Otto sold 4,109 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $74.22, for a total transaction of $304,969.98. Following the sale, the director owned 10,886 shares of the company’s stock, valued at $807,958.92. This trade represents a 27.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.56% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Black Hills
Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Black Hills by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 8,990,841 shares of the utilities provider’s stock valued at $553,746,000 after acquiring an additional 225,636 shares in the last quarter. State Street Corp boosted its holdings in shares of Black Hills by 0.8% during the 2nd quarter. State Street Corp now owns 3,841,615 shares of the utilities provider’s stock valued at $215,515,000 after acquiring an additional 31,093 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of Black Hills by 38.7% during the 4th quarter. Capital Research Global Investors now owns 2,275,922 shares of the utilities provider’s stock valued at $157,995,000 after acquiring an additional 634,800 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Black Hills by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 1,894,539 shares of the utilities provider’s stock worth $131,548,000 after buying an additional 55,232 shares during the period. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in Black Hills by 176.9% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,592,000 shares of the utilities provider’s stock worth $110,517,000 after buying an additional 1,017,000 shares during the period. Institutional investors and hedge funds own 86.71% of the company’s stock.
Black Hills Company Profile
Black Hills Corporation is a diversified energy company based in Rapid City, South Dakota, that provides electricity and natural gas distribution services to residential, commercial and industrial customers. Through its regulated utility subsidiaries—Black Hills Power, Cheyenne Light & Power, and Black Hills Energy—the company delivers reliable energy across Colorado, Kansas, Montana, Nebraska, South Dakota and Wyoming.
In addition to its distribution operations, Black Hills owns and operates a generation portfolio that includes natural gas–fired plants, coal-fired units, hydroelectric facilities and wind projects.
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