Black Hills Corp. (BKH) Rating Lowered to Sell at Zacks Investment Research
Black Hills Corp. (NYSE:BKH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.
According to Zacks, “Black Hills Corporation is an energy company that generates wholesale electricity and produces natural gas, crude oil and coal. They serve natural gas and electric utility customers in Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming. “
A number of other analysts have also recently weighed in on BKH. Bank of America Corp. reissued a “buy” rating on shares of Black Hills Corp. in a research note on Tuesday, May 24th. JPMorgan Chase & Co. upped their target price on shares of Black Hills Corp. from $62.00 to $67.00 and gave the company an “overweight” rating in a research note on Friday, August 5th. Finally, TheStreet cut shares of Black Hills Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, September 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. Black Hills Corp. has a consensus rating of “Buy” and an average target price of $62.17.
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Black Hills Corp. (NYSE:BKH) traded up 0.75% on Tuesday, reaching $60.22. 478,284 shares of the company’s stock traded hands. The firm has a market capitalization of $3.15 billion, a PE ratio of 177.12 and a beta of 0.71. Black Hills Corp. has a 52-week low of $37.68 and a 52-week high of $64.58. The firm’s 50 day moving average price is $59.52 and its 200 day moving average price is $60.22.
Black Hills Corp. (NYSE:BKH) last posted its earnings results on Wednesday, August 3rd. The company reported $0.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.53 by $0.14. Black Hills Corp. had a net margin of 1.22% and a return on equity of 9.94%. During the same quarter in the prior year, the firm posted $0.56 earnings per share. On average, analysts predict that Black Hills Corp. will post $3.01 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Thursday, August 18th were given a $0.42 dividend. The ex-dividend date was Tuesday, August 16th. This represents a $1.68 dividend on an annualized basis and a yield of 2.79%. Black Hills Corp.’s dividend payout ratio (DPR) is presently 646.18%.
A number of institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Inc. bought a new position in shares of Black Hills Corp. during the second quarter worth about $114,000. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Black Hills Corp. by 2.5% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,773 shares of the company’s stock worth $167,000 after buying an additional 68 shares during the last quarter. Invictus RG bought a new position in shares of Black Hills Corp. during the first quarter worth about $178,000. LS Investment Advisors LLC raised its position in shares of Black Hills Corp. by 77.5% in the second quarter. LS Investment Advisors LLC now owns 3,095 shares of the company’s stock worth $195,000 after buying an additional 1,351 shares during the last quarter. Finally, First Republic Investment Management Inc. bought a new position in shares of Black Hills Corp. during the first quarter worth about $202,000. Hedge funds and other institutional investors own 88.92% of the company’s stock.
Black Hills Corp. Company Profile
Black Hills Corporation is a holding company. The Company is an integrated energy company, which operates in the United States with two business groups: Utilities and Non-regulated Energy. Its Utilities Group consists of regulated Electric Utilities and regulated Gas Utilities segments, and the Company’s Non-regulated Energy Group consists of Power Generation, Coal Mining, and Oil and Gas segments.
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