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.
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.
ILLEGAL ACTIVITY WARNING: “Black Hills (BKH) Raised to Neutral at Bank of America” was first published by BBNS and is the sole property of of BBNS. If you are viewing this report on another site, it was stolen and reposted in violation of United States and international trademark and copyright law. The legal version of this report can be viewed at https://baseballnewssource.com/markets/black-hills-corporation-bkh-raised-to-neutral-at-bank-of-america-corporation/1781762.html.
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.
Receive News & Ratings for Black Hills Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Black Hills Corp and related companies with our FREE daily email newsletter.