Black Hills (BKH) PT Raised to $68.00 at Credit Suisse Group

Black Hills (NYSE:BKH) had its price target lifted by Credit Suisse Group from $66.00 to $68.00 in a research note issued on Monday. The firm currently has a “neutral” rating on the utilities provider’s stock. Credit Suisse Group’s target price suggests a potential downside of 2.82% from the company’s current price.

A number of other research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Black Hills from a “buy” rating to a “hold” rating in a research report on Tuesday, December 11th. ValuEngine upgraded shares of Black Hills from a “hold” rating to a “buy” rating in a research report on Tuesday, November 20th. Scotiabank downgraded shares of Black Hills from a “sector perform” rating to a “sell” rating in a research report on Wednesday, December 12th. Williams Capital downgraded shares of Black Hills from a “buy” rating to a “hold” rating and set a $64.00 price objective for the company. in a research report on Wednesday, February 6th. Finally, Bank of America upgraded shares of Black Hills from an “underperform” rating to a “neutral” rating and set a $69.00 price objective for the company in a research report on Monday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. Black Hills has an average rating of “Hold” and an average target price of $63.57.

BKH stock traded up $0.54 during trading on Monday, reaching $69.97. The company’s stock had a trading volume of 16,795 shares, compared to its average volume of 358,435. Black Hills has a 1 year low of $50.49 and a 1 year high of $70.25. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.36 and a current ratio of 0.53. The firm has a market capitalization of $4.16 billion, a PE ratio of 19.77, a PEG ratio of 4.35 and a beta of 0.45.

Black Hills (NYSE:BKH) last released its quarterly earnings results on Thursday, February 7th. The utilities provider reported $1.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.13. Black Hills had a return on equity of 10.21% and a net margin of 14.73%. The company had revenue of $501.20 million during the quarter, compared to analyst estimates of $466.97 million. During the same quarter last year, the business posted $0.98 earnings per share. The firm’s revenue was up 10.1% on a year-over-year basis. On average, sell-side analysts forecast that Black Hills will post 3.43 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Black Hills by 8.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,496 shares of the utilities provider’s stock valued at $219,000 after purchasing an additional 282 shares in the last quarter. Paradigm Asset Management Co. LLC grew its position in shares of Black Hills by 5.6% in the 3rd quarter. Paradigm Asset Management Co. LLC now owns 6,650 shares of the utilities provider’s stock valued at $386,000 after buying an additional 350 shares during the last quarter. Ffcm LLC grew its position in shares of Black Hills by 303.9% in the 4th quarter. Ffcm LLC now owns 622 shares of the utilities provider’s stock valued at $39,000 after buying an additional 468 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Black Hills in the 4th quarter valued at $41,000. Finally, Arizona State Retirement System grew its position in shares of Black Hills by 1.8% in the 4th quarter. Arizona State Retirement System now owns 38,742 shares of the utilities provider’s stock valued at $2,432,000 after buying an additional 687 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Black Hills Company Profile

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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