Black Hills (BKH) Raised to “Outperform” at Credit Suisse Group

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Credit Suisse Group upgraded shares of Black Hills (NYSE:BKH) from a neutral rating to an outperform rating in a research note published on Wednesday, MarketBeat reports. The firm currently has $65.00 price objective on the utilities provider’s stock, up from their previous price objective of $62.00.

BKH has been the subject of a number of other research reports. Wells Fargo & Co upped their price objective on Black Hills from $62.00 to $64.00 and gave the company a market perform rating in a report on Monday, September 17th. ValuEngine cut Black Hills from a hold rating to a sell rating in a research note on Tuesday, July 24th. Zacks Investment Research raised Black Hills from a hold rating to a buy rating and set a $69.00 target price for the company in a research note on Wednesday, October 10th. Howard Weil assumed coverage on Black Hills in a research note on Tuesday, July 24th. They issued a sector perform rating and a $58.00 target price for the company. Finally, Bank of America cut Black Hills from a neutral rating to an underperform rating and boosted their target price for the company from $59.00 to $60.00 in a research note on Thursday, July 12th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. Black Hills has a consensus rating of Hold and an average target price of $61.88.

NYSE BKH opened at $62.27 on Wednesday. The stock has a market capitalization of $3.29 billion, a P/E ratio of 18.53, a P/E/G ratio of 4.01 and a beta of 0.36. The company has a quick ratio of 0.39, a current ratio of 0.52 and a debt-to-equity ratio of 1.48. Black Hills has a 12 month low of $50.49 and a 12 month high of $67.77.

Black Hills (NYSE:BKH) last released its quarterly earnings data on Monday, August 6th. The utilities provider reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. The business had revenue of $355.70 million during the quarter, compared to the consensus estimate of $352.83 million. Black Hills had a return on equity of 10.40% and a net margin of 13.90%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 earnings per share. On average, equities research analysts predict that Black Hills will post 3.42 EPS for the current year.

Large investors have recently bought and sold shares of the business. Flagship Harbor Advisors LLC acquired a new position in Black Hills in the second quarter valued at about $164,000. Zeke Capital Advisors LLC acquired a new position in shares of Black Hills during the second quarter worth about $205,000. Cim Investment Mangement Inc. acquired a new position in shares of Black Hills during the second quarter worth about $205,000. Commonwealth Equity Services LLC acquired a new position in shares of Black Hills during the first quarter worth about $210,000. Finally, Hartford Investment Management Co. acquired a new position in shares of Black Hills during the second quarter worth about $213,000. 99.66% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Black Hills (NYSE:BKH)

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