Black Hills Corporation (NYSE:BKH) Receives Average Rating of “Buy” from Analysts

Shares of Black Hills Corporation (NYSE:BKH) have been given an average rating of “Buy” by the six brokerages that are presently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have covered the stock in the last year is $81.1667.

A number of research firms recently weighed in on BKH. BMO Capital Markets lifted their target price on shares of Black Hills from $84.00 to $91.00 and gave the company an “outperform” rating in a research note on Wednesday, April 15th. LADENBURG THALM/SH SH began coverage on shares of Black Hills in a research note on Wednesday, April 1st. They set a “buy” rating and a $77.00 target price on the stock. Bank of America upgraded shares of Black Hills from a “neutral” rating to a “buy” rating and lifted their target price for the company from $76.00 to $78.00 in a research note on Thursday, June 11th. Wall Street Zen cut shares of Black Hills from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Finally, Weiss Ratings cut shares of Black Hills from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 9th.

Black Hills Trading Up 1.0%

BKH stock opened at $74.59 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.53 and a current ratio of 0.65. The company’s 50 day moving average price is $73.69 and its two-hundred day moving average price is $72.34. The company has a market capitalization of $5.68 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 2.92 and a beta of 0.72. Black Hills has a one year low of $55.50 and a one year high of $78.69.

Black Hills (NYSE:BKH) last released its 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 return on equity of 7.77% and a net margin of 12.61%.The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.87 earnings per share. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. As a group, analysts predict that Black Hills will post 4.34 earnings per share for the current fiscal year.

Black Hills Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were issued a $0.703 dividend. This represents a $2.81 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Friday, May 15th. Black Hills’s payout ratio is 73.18%.

Insider Activity at Black Hills

In other news, Director Robert P. Otto sold 4,109 shares of the company’s stock in a transaction that occurred 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 sale, the director directly owned 10,886 shares of the company’s stock, valued at $807,958.92. This represents a 27.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.56% of the company’s stock.

Institutional Investors Weigh In On Black Hills

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BKH. Greenland Capital Management LP raised its position in Black Hills by 140.6% in the 3rd quarter. Greenland Capital Management LP now owns 29,573 shares of the utilities provider’s stock worth $1,821,000 after purchasing an additional 17,280 shares during the period. JPMorgan Chase & Co. raised its position in Black Hills by 67.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 618,131 shares of the utilities provider’s stock worth $38,071,000 after purchasing an additional 249,640 shares during the period. Capital Research Global Investors lifted its position in shares of Black Hills by 38.7% during the fourth quarter. Capital Research Global Investors now owns 2,275,922 shares of the utilities provider’s stock worth $157,995,000 after purchasing an additional 634,800 shares during the last quarter. Barnett & Company Inc. lifted its position in shares of Black Hills by 105.8% during the third quarter. Barnett & Company Inc. now owns 28,400 shares of the utilities provider’s stock worth $1,749,000 after purchasing an additional 14,600 shares during the last quarter. Finally, BW Gestao de Investimentos Ltda. purchased a new position in Black Hills in the 4th quarter worth about $5,985,000. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

About Black Hills

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.