Shares of Black Hills Corporation (NYSE:BKH – Get Free Report) crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $73.17 and traded as high as $77.48. Black Hills shares last traded at $76.35, with a volume of 1,362,786 shares traded.
Analyst Ratings Changes
BKH has been the subject of a number of analyst reports. Bank of America upped their price target on Black Hills from $87.00 to $97.00 and gave the stock a “buy” rating in a report on Monday, September 21st. Jefferies Financial Group initiated coverage on Black Hills in a report on Wednesday. They issued a “buy” rating and a $87.00 price objective on the stock. Freedom Broker upgraded Black Hills from a “hold” rating to a “buy” rating and boosted their price objective for the company from $69.00 to $78.00 in a research report on Wednesday, October 7th. BMO Capital Markets boosted their price objective on Black Hills from $83.00 to $86.00 and gave the company an “outperform” rating in a research report on Thursday, October 8th. Finally, Weiss Ratings raised Black Hills from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. According to MarketBeat, Black Hills has a consensus rating of “Buy” and an average price target of $83.25.
Read Our Latest Analysis on BKH
Black Hills Price Performance
The company has a 50-day moving average of $72.69 and a 200 day moving average of $73.22. The stock has a market capitalization of $5.85 billion, a PE ratio of 19.37, a PEG ratio of 3.03 and a beta of 0.68. The company has a quick ratio of 0.41, a current ratio of 0.52 and a debt-to-equity ratio of 0.99.
Black Hills (NYSE:BKH – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The utilities provider reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. The firm had revenue of $452.80 million for the quarter, compared to analyst estimates of $490.89 million. Black Hills had a net margin of 13.01% and a return on equity of 7.98%. Black Hills’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.38 earnings per share. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. Sell-side analysts predict that Black Hills Corporation will post 4.34 EPS for the current year.
Black Hills Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were given a $0.7030 dividend. The ex-dividend date was Monday, August 17th. This represents a $2.81 dividend on an annualized basis and a yield of 3.7%. Black Hills’s payout ratio is currently 70.96%.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in BKH. Banque Pictet & Cie SA acquired a new stake in Black Hills during the 3rd quarter worth approximately $3,214,000. AdvisorNet Financial Inc raised its holdings in Black Hills by 7.0% during the third quarter. AdvisorNet Financial Inc now owns 21,968 shares of the utilities provider’s stock worth $1,679,000 after purchasing an additional 1,445 shares in the last quarter. GK Wealth Management LLC acquired a new position in Black Hills in the third quarter valued at $44,000. GAMMA Investing LLC grew its stake in Black Hills by 99.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,260 shares of the utilities provider’s stock worth $158,000 after buying an additional 1,126 shares during the last quarter. Finally, Congress Asset Management Co. grew its position in Black Hills by 21.7% during the 3rd quarter. Congress Asset Management Co. now owns 267,370 shares of the utilities provider’s stock worth $18,737,000 after purchasing an additional 47,652 shares during the last quarter. 86.71% of the stock is currently owned by institutional investors and hedge funds.
About Black Hills
Black Hills Corporation (NYSE:BKH) is a regulated utility holding company headquartered in Rapid City, South Dakota. Through its operating subsidiaries, the company provides electric and natural gas utility services to residential, commercial, industrial and other customers.
Black Hills owns and operates electric generation, transmission and distribution facilities, as well as natural gas distribution, storage and transportation infrastructure. Its electric utilities serve customers in Colorado, Montana, South Dakota and Wyoming, while its natural gas utilities operate in Arkansas, Colorado, Iowa, Kansas, Nebraska and Wyoming.
The company traces its history to the development of utility services in the Black Hills region and was incorporated as Black Hills Corporation in 1941.
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