Bank of America Corporation upgraded shares of Black Hills Corporation (NYSE:BKH) from an underperform rating to a neutral rating in a report issued on Monday, Marketbeat reports. Bank of America Corporation currently has $61.00 price objective on the utilities provider’s stock.
Several other analysts have also recently commented on BKH. Royal Bank Of Canada restated a buy rating and set a $70.00 price target on shares of Black Hills Corporation in a report on Monday, July 31st. Zacks Investment Research upgraded shares of Black Hills Corporation from a sell rating to a hold rating in a report on Tuesday, September 26th. Credit Suisse Group reiterated an outperform rating and issued a $66.00 target price (down from $77.00) on shares of Black Hills Corporation in a research note on Monday, November 6th. They noted that the move was a valuation call. J P Morgan Chase & Co lifted their target price on shares of Black Hills Corporation from $76.00 to $77.00 and gave the company an overweight rating in a research note on Thursday, October 12th. Finally, Wells Fargo & Company began coverage on shares of Black Hills Corporation in a research note on Friday, October 27th. They issued a market perform rating and a $58.00 target price for the company. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Black Hills Corporation has a consensus rating of Buy and a consensus price target of $68.13.
Black Hills Corporation (NYSE:BKH) traded up $1.44 during mid-day trading on Monday, hitting $59.32. 542,300 shares of the company traded hands, compared to its average volume of 350,523. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.47 and a current ratio of 0.69. The firm has a market capitalization of $3,120.42, a PE ratio of 17.21, a P/E/G ratio of 3.13 and a beta of 0.78. Black Hills Corporation has a twelve month low of $57.26 and a twelve month high of $72.02.
Black Hills Corporation (NYSE:BKH) last posted its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.50 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.05). The company had revenue of $342.10 million for the quarter, compared to analyst estimates of $369.84 million. Black Hills Corporation had a return on equity of 10.47% and a net margin of 8.47%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.48 earnings per share. analysts predict that Black Hills Corporation will post 3.35 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be paid a $0.475 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This is a boost from Black Hills Corporation’s previous quarterly dividend of $0.45. This represents a $1.90 dividend on an annualized basis and a yield of 3.20%. Black Hills Corporation’s payout ratio is 67.94%.
Large investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Black Hills Corporation by 8.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,950 shares of the utilities provider’s stock valued at $132,000 after purchasing an additional 146 shares during the period. Advisor Group Inc. raised its position in shares of Black Hills Corporation by 7.7% in the second quarter. Advisor Group Inc. now owns 2,119 shares of the utilities provider’s stock valued at $142,000 after purchasing an additional 151 shares during the period. Flinton Capital Management LLC raised its position in shares of Black Hills Corporation by 68.8% in the second quarter. Flinton Capital Management LLC now owns 2,592 shares of the utilities provider’s stock valued at $175,000 after purchasing an additional 1,056 shares during the period. Denver Investment Advisors LLC bought a new position in shares of Black Hills Corporation in the second quarter valued at approximately $202,000. Finally, Suntrust Banks Inc. bought a new position in shares of Black Hills Corporation in the second quarter valued at approximately $202,000. 93.89% of the stock is currently owned by institutional investors.
About Black Hills Corporation
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.
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