Williams Capital Lowers Black Hills (BKH) to Hold

Black Hills (NYSE:BKH) was downgraded by research analysts at Williams Capital from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday. They presently have a $64.00 price target on the utilities provider’s stock. Williams Capital’s price objective indicates a potential downside of 4.68% from the company’s previous close.

BKH has been the topic of a number of other reports. Zacks Investment Research cut Black Hills from a “buy” rating to a “hold” rating in a research note on Tuesday, December 11th. ValuEngine raised Black Hills from a “hold” rating to a “buy” rating in a research note on Tuesday, November 20th. Credit Suisse Group cut Black Hills from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $69.00 to $66.00 in a research note on Wednesday, January 23rd. They noted that the move was a valuation call. Finally, Scotiabank cut Black Hills from a “sector perform” rating to a “sell” rating in a research note on Wednesday, December 12th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. Black Hills has a consensus rating of “Hold” and an average target price of $62.00.

Black Hills stock opened at $67.14 on Wednesday. The firm has a market capitalization of $4.01 billion, a PE ratio of 19.98, a PEG ratio of 4.20 and a beta of 0.45. Black Hills has a fifty-two week low of $50.49 and a fifty-two week high of $68.23. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 1.54.

Black Hills (NYSE:BKH) last released its quarterly earnings results on Monday, November 5th. The utilities provider reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.08). The firm had revenue of $322.00 million during the quarter, compared to the consensus estimate of $357.72 million. Black Hills had a return on equity of 9.98% and a net margin of 13.44%. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.50 EPS. As a group, sell-side analysts anticipate that Black Hills will post 3.42 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of BKH. Meeder Asset Management Inc. purchased a new stake in Black Hills in the fourth quarter worth about $41,000. Ruggie Capital Group bought a new position in shares of Black Hills during the fourth quarter valued at approximately $67,000. Flinton Capital Management LLC increased its stake in shares of Black Hills by 2.1% during the first quarter. Flinton Capital Management LLC now owns 1,536 shares of the utilities provider’s stock valued at $102,000 after purchasing an additional 32 shares in the last quarter. Covenant Multifamily Offices LLC bought a new position in shares of Black Hills during the fourth quarter valued at approximately $102,000. Finally, Creative Planning increased its stake in shares of Black Hills by 2.9% during the third quarter. Creative Planning now owns 1,716 shares of the utilities provider’s stock valued at $105,000 after purchasing an additional 48 shares in the last quarter. Institutional investors own 86.75% of the company’s stock.

About Black Hills

Black Hills Corporation, through its subsidiaries, operates as a vertically-integrated utility company in the United States. The company's Electric Utilities segment generates, transmits, and distributes electricity to approximately 210,000 electric customers in South Dakota, Wyoming, Colorado, and Montana.

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