LADENBURG THALM/SH SH Initiates Coverage on Black Hills (NYSE:BKH)

Analysts at LADENBURG THALM/SH SH assumed coverage on shares of Black Hills (NYSE:BKH) in a research note issued to investors on Wednesday. The brokerage set a “buy” rating and a $77.00 price target on the utilities provider’s stock. LADENBURG THALM/SH SH’s price objective indicates a potential upside of 11.16% from the stock’s previous close.

Several other analysts also recently commented on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Black Hills in a research note on Friday. Siebert Williams Shank raised Black Hills from a “hold” rating to a “buy” rating and boosted their target price for the company from $79.00 to $82.00 in a research note on Thursday, March 12th. Wall Street Zen upgraded Black Hills from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Finally, BMO Capital Markets raised their price target on Black Hills from $82.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, February 9th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Black Hills presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.60.

Black Hills Stock Up 0.2%

Shares of NYSE BKH opened at $69.27 on Wednesday. The stock has a market cap of $5.27 billion, a P/E ratio of 17.40, a P/E/G ratio of 2.73 and a beta of 0.75. The firm has a 50 day moving average price of $72.20 and a 200 day moving average price of $68.87. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.11 and a current ratio of 1.35. Black Hills has a 52-week low of $54.92 and a 52-week high of $75.87.

Black Hills (NYSE:BKH) last posted its earnings results on Wednesday, February 4th. The utilities provider reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.04. Black Hills had a net margin of 12.62% and a return on equity of 7.91%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period last year, the firm earned $1.37 EPS. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. Analysts expect that Black Hills will post 4.12 EPS for the current year.

Institutional Investors Weigh In On Black Hills

Institutional investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC increased its holdings in Black Hills by 132.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 576 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 328 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Black Hills by 37.8% in the 3rd quarter. Blue Trust Inc. now owns 641 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 176 shares during the period. Advisory Services Network LLC bought a new stake in shares of Black Hills in the third quarter valued at about $45,000. First Horizon Corp boosted its position in shares of Black Hills by 192.8% during the fourth quarter. First Horizon Corp now owns 773 shares of the utilities provider’s stock worth $54,000 after buying an additional 509 shares during the period. Finally, Clearstead Advisors LLC boosted its position in shares of Black Hills by 884.8% during the third quarter. Clearstead Advisors LLC now owns 778 shares of the utilities provider’s stock worth $48,000 after buying an additional 699 shares during the period. 86.71% of the stock is owned by institutional investors.

About Black Hills

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.