Bank of America Forecasts Strong Price Appreciation for Black Hills (NYSE:BKH) Stock

Black Hills (NYSE:BKH) had its price objective boosted by Bank of America from $87.00 to $97.00 in a research report issued on Monday, Marketbeat.com reports. The brokerage presently has a “buy” rating on the utilities provider’s stock. Bank of America‘s target price points to a potential upside of 35.09% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Oppenheimer set a $78.00 price target on Black Hills in a report on Thursday, June 11th. Wall Street Zen raised Black Hills from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. BMO Capital Markets decreased their target price on Black Hills from $86.00 to $85.00 and set an “outperform” rating on the stock in a report on Wednesday, July 22nd. Finally, Weiss Ratings upgraded Black Hills from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 24th. Six equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $83.33.

Black Hills Trading Down 0.2%

Shares of BKH stock opened at $71.80 on Monday. The company has a market capitalization of $5.47 billion, a P/E ratio of 18.13, a P/E/G ratio of 2.85 and a beta of 0.71. Black Hills has a 12-month low of $58.71 and a 12-month high of $78.69. The company has a quick ratio of 0.41, a current ratio of 0.52 and a debt-to-equity ratio of 0.99. The firm has a 50-day moving average price of $72.97 and a 200 day moving average price of $72.96.

Black Hills (NYSE:BKH) last issued its quarterly earnings data on Wednesday, August 5th. The utilities provider reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.13. Black Hills had a net margin of 13.01% and a return on equity of 7.98%. The firm had revenue of $452.80 million for the quarter, compared to analysts’ expectations of $490.89 million. During the same period in the prior year, the firm earned $0.38 earnings per share. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. Research analysts forecast that Black Hills will post 4.34 earnings per share for the current fiscal year.

Institutional Trading of Black Hills

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in Black Hills during the second quarter valued at approximately $928,675,000. Capital Research Global Investors raised its holdings in Black Hills by 38.7% in 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 period. Geode Capital Management LLC boosted its position in shares of Black Hills by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 1,894,539 shares of the utilities provider’s stock worth $131,548,000 after purchasing an additional 55,232 shares in the last quarter. Engineers Gate Manager LP boosted its position in shares of Black Hills by 35.7% during the second quarter. Engineers Gate Manager LP now owns 1,442,064 shares of the utilities provider’s stock worth $107,290,000 after purchasing an additional 379,211 shares in the last quarter. Finally, Cohen & Steers Inc. grew its holdings in shares of Black Hills by 17.8% in the 4th quarter. Cohen & Steers Inc. now owns 1,385,759 shares of the utilities provider’s stock valued at $96,199,000 after buying an additional 209,135 shares during the period. 86.71% of the stock is owned by institutional investors.

About Black Hills

Black Hills Corporation (NYSE:BKH) is a diversified energy company headquartered in Rapid City, South Dakota. Through its regulated utilities, the company provides electric and natural gas service to residential, commercial, industrial and institutional customers.

Black Hills’ electric operations generate, purchase, transmit and distribute electricity through a portfolio that includes coal, natural gas, wind and other energy resources. Its natural gas utilities transport and distribute natural gas, while also operating related storage and pipeline infrastructure.

The company serves communities across several Midwestern and Western states, including Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming.