Black Hills (NYSE:BKH – Free Report) had its price objective lifted by Bank of America from $87.00 to $97.00 in a research report released on Monday, Marketbeat Ratings reports. The brokerage currently has a buy rating on the utilities provider’s stock.
BKH has been the topic of a number of other reports. Wall Street Zen upgraded shares of Black Hills from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. BMO Capital Markets decreased their price objective on shares of Black Hills from $86.00 to $85.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 22nd. Weiss Ratings upgraded Black Hills from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 24th. Finally, Oppenheimer set a $78.00 price target on shares of Black Hills in a research note on Thursday, June 11th. Six research analysts have rated the stock with a Buy rating, According to MarketBeat, Black Hills has an average rating of “Buy” and an average price target of $83.33.
Read Our Latest Analysis on Black Hills
Black Hills Price Performance
Black Hills (NYSE:BKH – Get Free Report) last released its earnings results on Wednesday, August 5th. The utilities provider reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. Black Hills had a net margin of 13.01% and a return on equity of 7.98%. The firm had revenue of $452.80 million for the quarter, compared to analysts’ expectations of $490.89 million. During the same period in the previous year, the company earned $0.38 earnings per share. The company’s quarterly revenue was up 3.1% on a year-over-year basis. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. On average, research analysts expect that Black Hills will post 4.34 EPS for the current year.
Black Hills Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were given a dividend of $0.703 per share. The ex-dividend date was Monday, August 17th. This represents a $2.81 annualized dividend and a dividend yield of 3.9%. Black Hills’s payout ratio is currently 70.96%.
Institutional Investors Weigh In On Black Hills
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Black Hills during the 2nd quarter valued at approximately $928,675,000. Engineers Gate Manager LP boosted its holdings in shares of Black Hills by 17,790.3% during the 4th quarter. Engineers Gate Manager LP now owns 849,073 shares of the utilities provider’s stock valued at $58,943,000 after acquiring an additional 844,327 shares during the last quarter. Corient Private Wealth LP purchased a new stake in Black Hills in the second quarter worth approximately $3,691,000. Bank of New York Mellon Corp bought a new position in Black Hills in the second quarter valued at about $56,841,000. Finally, Capital Research Global Investors lifted its stake in shares of Black Hills by 38.7% in the 4th quarter. Capital Research Global Investors now owns 2,275,922 shares of the utilities provider’s stock worth $157,995,000 after purchasing an additional 634,800 shares during the period. 86.71% of the stock is owned by hedge funds and other institutional investors.
Black Hills Company Profile
Black Hills Corporation (NYSE:BKH) is a diversified energy company headquartered in Rapid City, South Dakota. Through its regulated utilities, the company provides electric and natural gas service to residential, commercial, industrial and institutional customers.
Black Hills’ electric operations generate, purchase, transmit and distribute electricity through a portfolio that includes coal, natural gas, wind and other energy resources. Its natural gas utilities transport and distribute natural gas, while also operating related storage and pipeline infrastructure.
The company serves communities across several Midwestern and Western states, including Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming.
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