Black Hills Corporation (BKH) Receives Consensus Rating of “Hold” from Analysts
Black Hills Corporation (NYSE:BKH) has earned a consensus recommendation of “Hold” from the eleven brokerages that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $71.25.
Several brokerages recently weighed in on BKH. Wells Fargo & Company began coverage on shares of Black Hills Corporation in a research report on Friday, October 27th. They issued a “market perform” rating and a $58.00 price target on the stock. Bank of America Corporation started coverage on shares of Black Hills Corporation in a research note on Tuesday, October 24th. They issued an “underperform” rating and a $66.00 price objective for the company. J P Morgan Chase & Co increased their price objective on shares of Black Hills Corporation from $76.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, October 12th. Williams Capital lowered shares of Black Hills Corporation from a “buy” rating to a “hold” rating and decreased their price objective for the company from $75.00 to $70.00 in a research note on Friday, October 6th. Finally, Credit Suisse Group increased their price objective on shares of Black Hills Corporation from $75.00 to $77.00 and gave the company an “outperform” rating in a research note on Monday, October 2nd.
Black Hills Corporation (NYSE:BKH) last announced its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.41 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.10). Black Hills Corporation had a net margin of 7.71% and a return on equity of 10.48%. The business had revenue of $348.00 million during the quarter, compared to the consensus estimate of $356.85 million. During the same period in the previous year, the business posted $0.39 EPS. Black Hills Corporation’s revenue was up 6.9% compared to the same quarter last year.
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Several hedge funds have recently modified their holdings of BKH. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Black Hills Corporation by 8.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,950 shares of the utilities provider’s stock worth $132,000 after purchasing an additional 146 shares during the last quarter. Advisor Group Inc. grew its stake in Black Hills Corporation by 7.7% in the 2nd quarter. Advisor Group Inc. now owns 2,119 shares of the utilities provider’s stock valued at $142,000 after buying an additional 151 shares in the last quarter. Flinton Capital Management LLC grew its stake in Black Hills Corporation by 68.8% in the 2nd quarter. Flinton Capital Management LLC now owns 2,592 shares of the utilities provider’s stock valued at $175,000 after buying an additional 1,056 shares in the last quarter. Denver Investment Advisors LLC purchased a new position in Black Hills Corporation in the 2nd quarter valued at approximately $202,000. Finally, Suntrust Banks Inc. purchased a new position in Black Hills Corporation in the 2nd quarter valued at approximately $202,000. Institutional investors own 93.82% 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.
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