Black Hills Corporation (BKH) Receives Average Recommendation of “Buy” from Analysts
Black Hills Corporation (NYSE:BKH) has been given an average rating of “Buy” by the eight ratings firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $73.40.
BKH has been the topic of a number of recent analyst reports. BMO Capital Markets lifted their price objective on Black Hills Corporation from $67.00 to $74.00 and gave the stock an “outperform” rating in a research report on Friday, May 5th. Singular Research lifted their price objective on Black Hills Corporation from $68.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, May 10th. Williams Capital lifted their price objective on Black Hills Corporation from $68.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, June 19th. BidaskClub lowered Black Hills Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $70.00 price objective on shares of Black Hills Corporation in a research report on Friday, June 30th.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in BKH. BlackRock Inc. boosted its position in Black Hills Corporation by 1.1% in the second quarter. BlackRock Inc. now owns 8,335,355 shares of the utilities provider’s stock worth $562,384,000 after buying an additional 91,668 shares during the last quarter. Vanguard Group Inc. boosted its position in Black Hills Corporation by 2.3% in the second quarter. Vanguard Group Inc. now owns 5,223,071 shares of the utilities provider’s stock worth $352,401,000 after buying an additional 118,774 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Black Hills Corporation by 7.4% in the second quarter. Goldman Sachs Group Inc. now owns 2,494,071 shares of the utilities provider’s stock worth $168,275,000 after buying an additional 171,383 shares during the last quarter. Wellington Management Group LLP boosted its position in Black Hills Corporation by 24.1% in the first quarter. Wellington Management Group LLP now owns 1,938,261 shares of the utilities provider’s stock worth $128,836,000 after buying an additional 376,732 shares during the last quarter. Finally, Macquarie Group Ltd. boosted its position in Black Hills Corporation by 19.1% in the second quarter. Macquarie Group Ltd. now owns 974,182 shares of the utilities provider’s stock worth $65,728,000 after buying an additional 155,969 shares during the last quarter. Institutional investors own 94.40% of the company’s stock.
Shares of Black Hills Corporation (BKH) opened at 68.73 on Friday. Black Hills Corporation has a 12-month low of $54.76 and a 12-month high of $72.02. The stock’s 50 day moving average price is $69.16 and its 200-day moving average price is $67.45. The firm has a market cap of $3.68 billion, a P/E ratio of 28.70 and a beta of 0.82.
Black Hills Corporation (NYSE:BKH) last issued its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.10. The business had revenue of $348 million during the quarter, compared to the consensus estimate of $356.85 million. Black Hills Corporation had a return on equity of 10.48% and a net margin of 7.71%. Black Hills Corporation’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.39 earnings per share. On average, analysts predict that Black Hills Corporation will post $3.57 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be paid a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date is Wednesday, August 16th. Black Hills Corporation’s payout ratio is presently 74.79%.
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.
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