Williams Capital Raises Black Hills Corporation (BKH) Price Target to $76.00
Black Hills Corporation (NYSE:BKH) had its price target raised by equities research analysts at Williams Capital from $68.00 to $76.00 in a research note issued on Monday. The firm currently has a “buy” rating on the utilities provider’s stock. Williams Capital’s target price would indicate a potential upside of 5.73% from the company’s current price.
Several other research firms also recently issued reports on BKH. BMO Capital Markets upped their price objective on Black Hills Corporation from $67.00 to $74.00 and gave the stock an “outperform” rating in a report on Friday, May 5th. Singular Research upped their price objective on Black Hills Corporation from $68.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, May 10th. Zacks Investment Research downgraded Black Hills Corporation from a “hold” rating to a “sell” rating in a report on Monday, April 10th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $70.00 price objective on shares of Black Hills Corporation in a report on Friday, March 17th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. Black Hills Corporation presently has an average rating of “Buy” and an average target price of $71.29.
Black Hills Corporation (NYSE BKH) traded down 0.10% during mid-day trading on Monday, reaching $71.81. The company had a trading volume of 31,926 shares. Black Hills Corporation has a 52-week low of $54.76 and a 52-week high of $71.98. The stock has a market capitalization of $3.84 billion, a price-to-earnings ratio of 35.46 and a beta of 0.78. The company’s 50 day moving average is $69.08 and its 200 day moving average is $64.86.
Black Hills Corporation (NYSE:BKH) last posted its quarterly earnings data on Wednesday, May 3rd. The utilities provider reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.01. Black Hills Corporation had a return on equity of 10.55% and a net margin of 6.53%. The firm had revenue of $554 million for the quarter, compared to the consensus estimate of $581 million. During the same quarter in the prior year, the business earned $1.23 EPS. The business’s revenue for the quarter was up 23.1% compared to the same quarter last year. Equities analysts predict that Black Hills Corporation will post $3.60 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Thursday, May 18th were given a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a dividend yield of 2.48%. The ex-dividend date was Tuesday, May 16th. Black Hills Corporation’s payout ratio is 89.45%.
Hedge funds have recently modified their holdings of the stock. Hillcrest Asset Management acquired a new stake in shares of Black Hills Corporation during the third quarter valued at approximately $6,659,000. ICON Advisers boosted its stake in shares of Black Hills Corporation by 22.2% in the third quarter. ICON Advisers now owns 198,700 shares of the utilities provider’s stock valued at $8,214,000 after buying an additional 36,100 shares during the last quarter. Duff & Phelps Investment Management Company acquired a new stake in shares of Black Hills Corporation during the fourth quarter valued at approximately $46,430,000. First Premier Bank acquired a new stake in shares of Black Hills Corporation during the fourth quarter valued at approximately $1,492,000. Finally, Boston Advisors acquired a new stake in shares of Black Hills Corporation during the fourth quarter valued at approximately $5,648,000. Institutional investors own 94.74% of the company’s stock.
About Black Hills Corporation
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.
Receive News & Ratings for Black Hills Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Black Hills Corporation and related companies with MarketBeat.com's FREE daily email newsletter.