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.
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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