Black Hills Corp (BKH) Receives $65.75 Average Price Target from Analysts

Shares of Black Hills Corp (NYSE:BKH) have been assigned an average recommendation of “Hold” from the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $69.50.

BKH has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Black Hills from a “sell” rating to a “buy” rating and set a $84.00 price objective for the company in a research report on Tuesday. Williams Capital cut shares of Black Hills from a “buy” rating to a “hold” rating and set a $64.00 price objective for the company. in a research report on Wednesday, February 6th. Credit Suisse Group set a $72.00 price objective on shares of Black Hills and gave the stock a “hold” rating in a research report on Tuesday, March 5th. Bank of America upgraded shares of Black Hills from an “underperform” rating to a “neutral” rating and set a $69.00 price objective for the company in a research report on Monday, February 11th. Finally, Scotiabank upgraded shares of Black Hills from an “underperform” rating to a “sector perform” rating and boosted their price objective for the stock from $64.00 to $70.00 in a research report on Wednesday.

Shares of BKH traded up $0.09 on Monday, hitting $73.95. The company’s stock had a trading volume of 2,200 shares, compared to its average volume of 378,077. The company has a market capitalization of $4.50 billion, a P/E ratio of 20.87, a PEG ratio of 4.55 and a beta of 0.44. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.78 and a quick ratio of 0.60. Black Hills has a fifty-two week low of $55.07 and a fifty-two week high of $75.20.

Black Hills (NYSE:BKH) last announced its earnings results on Thursday, May 2nd. The utilities provider reported $1.73 EPS for the quarter, topping the consensus estimate of $1.58 by $0.15. The business had revenue of $597.80 million for the quarter, compared to the consensus estimate of $581.85 million. Black Hills had a return on equity of 10.38% and a net margin of 12.91%. Black Hills’s revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.63 EPS. On average, sell-side analysts anticipate that Black Hills will post 3.43 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 17th will be issued a $0.505 dividend. This represents a $2.02 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Thursday, May 16th. Black Hills’s dividend payout ratio (DPR) is 57.06%.

In other news, insider David R. Emery sold 7,500 shares of the business’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $71.31, for a total value of $534,825.00. Following the completion of the transaction, the insider now owns 190,306 shares of the company’s stock, valued at approximately $13,570,720.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider David R. Emery sold 2,143 shares of the business’s stock in a transaction on Wednesday, February 13th. The shares were sold at an average price of $70.14, for a total transaction of $150,310.02. Following the completion of the transaction, the insider now directly owns 205,306 shares of the company’s stock, valued at approximately $14,400,162.84. The disclosure for this sale can be found here. Insiders sold a total of 17,143 shares of company stock valued at $1,225,360 in the last three months. 1.00% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in BKH. Lenox Wealth Management Inc. acquired a new position in Black Hills in the 1st quarter worth $30,000. Ffcm LLC boosted its stake in 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 during the period. Meeder Asset Management Inc. acquired a new position in Black Hills in the 4th quarter worth $41,000. Ruggie Capital Group acquired a new position in Black Hills in the 4th quarter worth $67,000. Finally, Fort L.P. acquired a new position in Black Hills in the 4th quarter worth $72,000. 87.35% of the stock is owned by institutional investors.

Black Hills Company Profile

Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. It operates through Electric Utilities, Gas Utilities, Power Generation, and Mining segments. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 212,000 electric customers in Colorado, Montana, South Dakota, and Wyoming, as well as provides electrical system construction services to large industrial customers.

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