Wells Fargo & Co Cuts Black Hills (NYSE:BKH) Price Target to $78.00

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Black Hills (NYSE:BKH) had its target price decreased by Wells Fargo & Co from $80.00 to $78.00 in a research report sent to investors on Wednesday morning, Stock Target Advisor reports. Wells Fargo & Co currently has a market perform rating on the utilities provider’s stock.

A number of other brokerages have also recently issued reports on BKH. ValuEngine cut Black Hills from a buy rating to a hold rating in a report on Wednesday, October 2nd. Bank of America upgraded Black Hills from a neutral rating to a buy rating in a report on Thursday, October 10th. Zacks Investment Research upgraded Black Hills from a sell rating to a hold rating in a report on Monday, October 21st. Finally, Credit Suisse Group reduced their target price on Black Hills from $79.00 to $78.00 and set a neutral rating on the stock in a report on Friday, August 9th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $74.00.

Shares of BKH opened at $75.09 on Wednesday. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 1.26. Black Hills has a 1 year low of $59.49 and a 1 year high of $82.01. The stock has a market cap of $4.58 billion, a P/E ratio of 21.21, a price-to-earnings-growth ratio of 5.16 and a beta of 0.24. The stock’s 50-day moving average price is $77.34 and its two-hundred day moving average price is $77.18.

Black Hills (NYSE:BKH) last issued its earnings results on Monday, November 4th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.01). Black Hills had a return on equity of 8.73% and a net margin of 12.32%. The company had revenue of $325.50 million for the quarter, compared to the consensus estimate of $385.42 million. During the same quarter last year, the business posted $0.42 EPS. Black Hills’s quarterly revenue was up 1.1% on a year-over-year basis. As a group, equities analysts forecast that Black Hills will post 3.45 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Monday, November 18th will be issued a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Black Hills’s previous quarterly dividend of $0.51. Black Hills’s payout ratio is 57.06%.

In other news, Chairman David R. Emery sold 7,500 shares of Black Hills stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $77.31, for a total transaction of $579,825.00. Following the transaction, the chairman now owns 152,806 shares in the company, valued at approximately $11,813,431.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shonn D. Stahlecker sold 10,000 shares of Black Hills stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $7.35, for a total value of $73,500.00. Insiders have sold a total of 32,500 shares of company stock worth $1,821,375 in the last quarter. 1.00% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. Fort Washington Investment Advisors Inc. OH bought a new stake in Black Hills in the 2nd quarter valued at approximately $203,000. WESPAC Advisors LLC bought a new stake in Black Hills in the 2nd quarter valued at approximately $2,807,000. Chicago Equity Partners LLC bought a new stake in Black Hills in the 2nd quarter valued at approximately $3,515,000. Citadel Advisors LLC lifted its stake in Black Hills by 380.5% in the 2nd quarter. Citadel Advisors LLC now owns 29,418 shares of the utilities provider’s stock valued at $2,300,000 after acquiring an additional 23,296 shares in the last quarter. Finally, Wolverine Trading LLC bought a new stake in Black Hills in the 2nd quarter valued at approximately $239,000. Institutional investors and hedge funds own 87.79% of the company’s stock.

About Black Hills

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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Analyst Recommendations for Black Hills (NYSE:BKH)

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