Black Hills Corp (BKH) Given Consensus Rating of “Hold” by Brokerages

Shares of Black Hills Corp (NYSE:BKH) have earned a consensus rating of “Hold” from the eight ratings firms that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $59.50.

Several equities research analysts have commented on the stock. ValuEngine upgraded shares of Black Hills from a “sell” rating to a “hold” rating in a research note on Thursday, July 5th. Bank of America lowered shares of Black Hills from a “neutral” rating to an “underperform” rating and raised their price target for the company from $59.00 to $60.00 in a research note on Thursday, July 12th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Black Hills from a “hold” rating to a “sell” rating in a research note on Thursday, July 12th. Credit Suisse Group raised their price target on shares of Black Hills from $59.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, May 21st. Finally, JPMorgan Chase & Co. raised their price target on shares of Black Hills from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Tuesday, April 10th.

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Shares of NYSE:BKH traded down $0.31 during trading hours on Tuesday, hitting $60.89. The stock had a trading volume of 350,600 shares, compared to its average volume of 601,532. Black Hills has a 1-year low of $50.49 and a 1-year high of $71.01. The firm has a market capitalization of $3.29 billion, a P/E ratio of 18.21, a PEG ratio of 4.37 and a beta of 0.52. The company has a current ratio of 0.62, a quick ratio of 0.52 and a debt-to-equity ratio of 1.48.

Black Hills (NYSE:BKH) last announced its quarterly earnings results on Thursday, May 3rd. The utilities provider reported $1.63 EPS for the quarter, beating the consensus estimate of $1.53 by $0.10. Black Hills had a net margin of 13.98% and a return on equity of 10.49%. The company had revenue of $575.40 million for the quarter, compared to analyst estimates of $560.38 million. During the same quarter last year, the business earned $1.39 earnings per share. Black Hills’s revenue was up 5.1% compared to the same quarter last year. analysts predict that Black Hills will post 3.39 EPS for the current year.

Several institutional investors have recently bought and sold shares of the company. Bank of Montreal Can boosted its holdings in shares of Black Hills by 86.6% in the second quarter. Bank of Montreal Can now owns 90,443 shares of the utilities provider’s stock valued at $5,535,000 after acquiring an additional 41,974 shares in the last quarter. Peregrine Capital Management LLC bought a new position in shares of Black Hills in the second quarter valued at approximately $6,697,000. Raymond James Trust N.A. bought a new position in shares of Black Hills in the second quarter valued at approximately $317,000. Bath Savings Trust Co bought a new position in shares of Black Hills in the second quarter valued at approximately $220,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Black Hills in the first quarter valued at approximately $801,000. Institutional investors and hedge funds own 98.89% of the company’s stock.

Black Hills Company Profile

Black Hills Corporation, through its subsidiaries, operates as a vertically-integrated utility company in the United States. The company's Electric Utilities segment generates, transmits, and distributes electricity to approximately 210,000 electric customers in South Dakota, Wyoming, Colorado, and Montana.

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