Black Hills (BKH) Raised to Neutral at Bank of America

Bank of America upgraded shares of Black Hills (NYSE:BKH) from an underperform rating to a neutral rating in a research report report published on Monday, November 13th, Marketbeat.com reports. The firm currently has $61.00 target price on the utilities provider’s stock.

A number of other analysts have also recently commented on BKH. Royal Bank Of Canada reaffirmed a buy rating and set a $70.00 target price on shares of Black Hills in a report on Monday, July 31st. Zacks Investment Research cut shares of Black Hills from a hold rating to a sell rating in a report on Tuesday, August 22nd. Credit Suisse Group upped their target price on shares of Black Hills from $75.00 to $77.00 and gave the stock an outperform rating in a research report on Monday, October 2nd. Williams Capital lowered shares of Black Hills from a buy rating to a hold rating and lowered their price objective for the company from $75.00 to $70.00 in a research report on Friday, October 6th. Finally, J P Morgan Chase & Co increased their price objective on shares of Black Hills from $76.00 to $77.00 and gave the company an overweight rating in a research report on Thursday, October 12th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Black Hills presently has a consensus rating of Buy and a consensus target price of $68.13.

Black Hills (NYSE BKH) opened at $58.24 on Monday. The company has a quick ratio of 0.47, a current ratio of 0.69 and a debt-to-equity ratio of 1.73. Black Hills has a 52 week low of $57.26 and a 52 week high of $72.02. The stock has a market cap of $3,100.00, a P/E ratio of 17.26, a PEG ratio of 3.14 and a beta of 0.78.

Black Hills (NYSE:BKH) last released its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.05). Black Hills had a net margin of 8.47% and a return on equity of 10.47%. The company had revenue of $342.10 million for the quarter, compared to analysts’ expectations of $369.84 million. During the same period in the previous year, the firm earned $0.48 earnings per share. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. research analysts forecast that Black Hills will post 3.35 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 17th were paid a $0.475 dividend. The ex-dividend date was Thursday, November 16th. This represents a $1.90 annualized dividend and a dividend yield of 3.26%. This is an increase from Black Hills’s previous quarterly dividend of $0.45. Black Hills’s dividend payout ratio is currently 72.24%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Black Hills by 1.1% in the second quarter. BlackRock Inc. now owns 8,335,355 shares of the utilities provider’s stock valued at $562,384,000 after acquiring an additional 91,668 shares during the period. Vanguard Group Inc. increased its stake in Black Hills by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 5,223,071 shares of the utilities provider’s stock worth $352,401,000 after buying an additional 118,774 shares during the period. Goldman Sachs Group Inc. increased its stake in Black Hills by 7.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,494,071 shares of the utilities provider’s stock worth $168,275,000 after buying an additional 171,383 shares during the period. Macquarie Group Ltd. increased its stake in Black Hills by 7.2% in the 3rd quarter. Macquarie Group Ltd. now owns 1,044,103 shares of the utilities provider’s stock worth $71,907,000 after buying an additional 69,921 shares during the period. Finally, Janus Henderson Group PLC increased its stake in Black Hills by 4.4% in the 3rd quarter. Janus Henderson Group PLC now owns 958,976 shares of the utilities provider’s stock worth $66,045,000 after buying an additional 40,152 shares during the period. 95.28% of the stock is currently owned by institutional investors and hedge funds.

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About Black Hills

Black Hills Corporation is a holding company. The Company is an integrated energy company, which is focused primarily on regulated utilities. The Company operates through segments, including Electric Utilities, Gas Utilities, Power Generation, Mining, Oil and Gas, and Corporate. As of December 31, 2016, the Electric Utilities segment generated, transmitted and distributed electricity to approximately 208,500 customers in South Dakota, Wyoming, Colorado and Montana.

Analyst Recommendations for Black Hills (NYSE:BKH)

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