Black Hills Corporation (NYSE:BKH) Cut to Hold at Williams Capital

Williams Capital cut shares of Black Hills Corporation (NYSE:BKH) from a buy rating to a hold rating in a research report released on Friday, October 6th, MarketBeat reports. They currently have $70.00 target price on the utilities provider’s stock, down from their previous target price of $75.00.

A number of other analysts have also recently commented on the stock. Royal Bank Of Canada reissued a buy rating and set a $70.00 target price on shares of Black Hills Corporation in a research note on Monday, July 31st. Zacks Investment Research lowered shares of Black Hills Corporation from a hold rating to a sell rating in a research report on Tuesday, August 22nd. Credit Suisse Group boosted their price target on shares of Black Hills Corporation from $75.00 to $77.00 and gave the stock an outperform rating in a research report on Monday, October 2nd. Finally, BidaskClub lowered shares of Black Hills Corporation from a buy rating to a hold rating in a report on Thursday, June 29th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of Buy and an average target price of $74.33.

Black Hills Corporation (BKH) traded down 0.244% on Friday, hitting $67.525. The stock had a trading volume of 10,800 shares. Black Hills Corporation has a 52-week low of $54.76 and a 52-week high of $72.02. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of 28.194 and a beta of 0.79. The company’s 50 day moving average price is $69.24 and its 200 day moving average price is $69.01.

Black Hills Corporation (NYSE:BKH) last released its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). Black Hills Corporation had a net margin of 7.71% and a return on equity of 10.48%. The firm had revenue of $348.00 million during the quarter, compared to analysts’ expectations of $356.85 million. During the same period in the previous year, the firm posted $0.39 EPS. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. Analysts expect that Black Hills Corporation will post $3.51 EPS for the current year.

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Several hedge funds and other institutional investors have recently bought and sold shares of BKH. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Black Hills Corporation by 8.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,950 shares of the utilities provider’s stock valued at $132,000 after buying an additional 146 shares during the last quarter. Advisor Group Inc. boosted its stake in Black Hills Corporation by 7.7% during the 2nd quarter. Advisor Group Inc. now owns 2,119 shares of the utilities provider’s stock worth $142,000 after purchasing an additional 151 shares during the period. Flinton Capital Management LLC boosted its stake in Black Hills Corporation by 68.8% during the 2nd quarter. Flinton Capital Management LLC now owns 2,592 shares of the utilities provider’s stock worth $175,000 after purchasing an additional 1,056 shares during the period. Denver Investment Advisors LLC acquired a new stake in Black Hills Corporation during the 2nd quarter worth $202,000. Finally, Suntrust Banks Inc. acquired a new stake in Black Hills Corporation during the 2nd quarter worth $202,000. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Black Hills Corporation Company Profile

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 Corporation (NYSE:BKH)

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