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 to clients and investors 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 research analysts have also issued reports on the company. TheStreet lowered Black Hills Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, September 6th. JPMorgan Chase & Co. raised their price target on 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, Bank of America Corp. restated a “buy” rating on shares of Black Hills Corp. in a research note on Tuesday, May 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. Black Hills Corp. currently has a consensus rating of “Buy” and an average price target of $62.17.
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Shares of Black Hills Corp. (NYSE:BKH) traded up 0.75% during mid-day trading on Tuesday, hitting $60.22. The stock had a trading volume of 478,284 shares. The firm has a 50 day moving average price of $59.52 and a 200 day moving average price of $60.22. The firm has a market cap 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.
Black Hills Corp. (NYSE:BKH) last released its earnings results on Wednesday, August 3rd. The company reported $0.39 earnings per share (EPS) 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 period in the previous year, the business earned $0.56 earnings per share. Equities analysts predict that Black Hills Corp. will post $3.01 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Thursday, August 18th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date was Tuesday, August 16th. Black Hills Corp.’s dividend payout ratio (DPR) is currently 646.18%.
Several hedge funds have recently bought and sold shares of BKH. State Street Corp boosted its stake in Black Hills Corp. by 43.5% in the first quarter. State Street Corp now owns 5,412,338 shares of the company’s stock worth $325,439,000 after buying an additional 1,640,495 shares during the period. BlackRock Fund Advisors boosted its position in shares of Black Hills Corp. by 5.9% in the second quarter. BlackRock Fund Advisors now owns 5,035,979 shares of the company’s stock valued at $317,468,000 after buying an additional 278,362 shares during the period. Vanguard Group Inc. boosted its position in shares of Black Hills Corp. by 5.5% in the second quarter. Vanguard Group Inc. now owns 4,048,978 shares of the company’s stock valued at $255,248,000 after buying an additional 210,671 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in shares of Black Hills Corp. by 5.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,569,119 shares of the company’s stock valued at $98,917,000 after buying an additional 82,510 shares during the period. Finally, Adage Capital Partners GP L.L.C. boosted its position in shares of Black Hills Corp. by 15.4% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,500,000 shares of the company’s stock valued at $90,195,000 after buying an additional 200,000 shares during the period. Institutional investors and hedge funds own 88.92% of the company’s stock.
About Black Hills Corp.
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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