BMO Capital Markets Has Lowered Expectations for Black Hills (NYSE:BKH) Stock Price

Black Hills (NYSE:BKH) had its price target cut by BMO Capital Markets from $86.00 to $85.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the utilities provider’s stock. BMO Capital Markets’ price target would indicate a potential upside of 13.21% from the company’s previous close.

A number of other equities analysts have also recently weighed in on the stock. Wall Street Zen cut shares of Black Hills from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. LADENBURG THALM/SH SH assumed coverage on shares of Black Hills in a research note on Wednesday, April 1st. They issued a “buy” rating and a $77.00 price objective for the company. Weiss Ratings downgraded shares of Black Hills from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 9th. Oppenheimer set a $78.00 price objective on shares of Black Hills in a report on Thursday, June 11th. Finally, Bank of America upped their target price on shares of Black Hills from $78.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Six equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $81.67.

Black Hills Stock Up 0.1%

BKH opened at $75.08 on Wednesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.53. The business has a 50 day simple moving average of $73.52 and a 200-day simple moving average of $72.99. The stock has a market capitalization of $5.72 billion, a P/E ratio of 19.55, a P/E/G ratio of 2.97 and a beta of 0.71. Black Hills has a 12 month low of $55.79 and a 12 month high of $78.69.

Black Hills (NYSE:BKH) last posted its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $1.79 earnings per share for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.09). The business had revenue of $780.70 million during the quarter, compared to analysts’ expectations of $769.19 million. Black Hills had a net margin of 12.61% and a return on equity of 7.77%. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.87 earnings per share. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. On average, equities analysts anticipate that Black Hills will post 4.34 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Robert P. Otto sold 4,109 shares of Black Hills stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $74.22, for a total transaction of $304,969.98. Following the completion of the transaction, the director owned 10,886 shares of the company’s stock, valued at $807,958.92. The trade was a 27.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.56% of the stock is owned by company insiders.

Hedge Funds Weigh In On Black Hills

Several hedge funds have recently added to or reduced their stakes in BKH. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Black Hills by 7.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,798 shares of the utilities provider’s stock valued at $2,596,000 after purchasing an additional 2,906 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of Black Hills by 83.2% during the 1st quarter. NewEdge Advisors LLC now owns 3,345 shares of the utilities provider’s stock worth $203,000 after purchasing an additional 1,519 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Black Hills by 37.8% during the 1st quarter. Jones Financial Companies Lllp now owns 3,040 shares of the utilities provider’s stock worth $184,000 after purchasing an additional 834 shares during the last quarter. United Services Automobile Association acquired a new position in shares of Black Hills during the 1st quarter worth approximately $255,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Black Hills by 5.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 134,673 shares of the utilities provider’s stock valued at $8,168,000 after buying an additional 7,332 shares in the last quarter. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

Black Hills Company Profile

Black Hills Corporation is a diversified energy company based in Rapid City, South Dakota, that provides electricity and natural gas distribution services to residential, commercial and industrial customers. Through its regulated utility subsidiaries—Black Hills Power, Cheyenne Light & Power, and Black Hills Energy—the company delivers reliable energy across Colorado, Kansas, Montana, Nebraska, South Dakota and Wyoming.

In addition to its distribution operations, Black Hills owns and operates a generation portfolio that includes natural gas–fired plants, coal-fired units, hydroelectric facilities and wind projects.