Black Hills Corp. (BKH) Shares Gap Up to $59.77
Shares of Black Hills Corp. (NYSE:BKH) gapped up prior to trading on Tuesday . The stock had previously closed at $59.75, but opened at $59.77. Black Hills Corp. shares last traded at $60.37, with a volume of 150,125 shares.
Several analysts recently issued reports on the company. Zacks Investment Research cut Black Hills Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday. 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. raised their target price on Black Hills Corp. from $62.00 to $67.00 and gave the stock an “overweight” rating in a research note on Friday, August 5th. Finally, TheStreet cut Black Hills Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, September 6th. One 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. presently has an average rating of “Buy” and an average target price of $62.17.
The company has a 50 day moving average price of $59.43 and a 200 day moving average price of $60.25. The company has a market cap of $3.15 billion, a PE ratio of 177.12 and a beta of 0.71.
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Black Hills Corp. (NYSE:BKH) last announced its earnings results on Wednesday, August 3rd. The company reported $0.39 earnings per share (EPS) for the quarter, missing the 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 previous year, the firm earned $0.56 EPS. Equities analysts predict that Black Hills Corp. will post $3.01 earnings per share for the current year.
The firm 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 annualized dividend and a dividend yield of 2.79%. The ex-dividend date was Tuesday, August 16th. Black Hills Corp.’s dividend payout ratio is 646.18%.
Hedge funds have recently made changes to their positions in the stock. Boston Advisors LLC boosted its stake in shares of Black Hills Corp. by 1.9% in the first quarter. Boston Advisors LLC now owns 123,950 shares of the company’s stock valued at $7,453,000 after buying an additional 2,310 shares in the last quarter. Investment Centers of America Inc. boosted its stake in shares of Black Hills Corp. by 6.0% in the first quarter. Investment Centers of America Inc. now owns 7,108 shares of the company’s stock valued at $426,000 after buying an additional 402 shares in the last quarter. Aperio Group LLC boosted its stake in shares of Black Hills Corp. by 6.1% in the first quarter. Aperio Group LLC now owns 16,514 shares of the company’s stock valued at $993,000 after buying an additional 943 shares in the last quarter. Nisa Investment Advisors L.L.C. boosted its stake in shares of Black Hills Corp. by 20.5% in the first quarter. Nisa Investment Advisors L.L.C. now owns 70,500 shares of the company’s stock valued at $4,239,000 after buying an additional 12,000 shares in the last quarter. Finally, Virginia Retirement System acquired a new stake in shares of Black Hills Corp. during the first quarter valued at about $613,000. Hedge funds and other institutional investors 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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