Zacks Investment Research Upgrades Black Hills (BKH) to “Buy”

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Zacks Investment Research upgraded shares of Black Hills (NYSE:BKH) from a hold rating to a buy rating in a research note published on Monday morning. Zacks Investment Research currently has $78.00 price objective on the utilities provider’s stock.

According to Zacks, “Black Hills Corporation is an energy company that generates wholesale electricity and produces natural gas, crude oil and coal. They serve natural gas and electric utility customers in Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming. “

A number of other equities research analysts have also recently issued reports on the stock. Credit Suisse Group lifted their price target on shares of Black Hills from $66.00 to $68.00 and gave the company a neutral rating in a research note on Monday. Bank of America raised shares of Black Hills from an underperform rating to a neutral rating and set a $69.00 price target on the stock in a research note on Monday. Williams Capital cut shares of Black Hills from a buy rating to a hold rating and set a $64.00 price target on the stock. in a research note on Wednesday, February 6th. Scotiabank cut shares of Black Hills from a sector perform rating to a sell rating in a research note on Wednesday, December 12th. Finally, ValuEngine upgraded Black Hills from a hold rating to a buy rating in a report on Tuesday, November 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $64.86.

Shares of NYSE BKH opened at $70.31 on Monday. The company has a market cap of $4.16 billion, a PE ratio of 19.86, a PEG ratio of 4.35 and a beta of 0.45. Black Hills has a 12 month low of $50.49 and a 12 month high of $70.33. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.36 and a current ratio of 0.53.

Black Hills (NYSE:BKH) last issued its quarterly earnings data on Thursday, February 7th. The utilities provider reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.13. Black Hills had a net margin of 14.73% and a return on equity of 10.21%. The business had revenue of $501.20 million for the quarter, compared to analysts’ expectations of $466.97 million. During the same quarter last year, the company earned $0.98 EPS. The business’s revenue was up 10.1% on a year-over-year basis. As a group, analysts forecast that Black Hills will post 3.43 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 15th will be issued a $0.505 dividend. The ex-dividend date of this dividend is Thursday, February 14th. This represents a $2.02 dividend on an annualized basis and a yield of 2.87%. Black Hills’s payout ratio is currently 57.06%.

Hedge funds have recently made changes to their positions in the business. Ffcm LLC lifted its holdings in Black Hills by 303.9% in the 4th quarter. Ffcm LLC now owns 622 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 468 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Black Hills in the 4th quarter valued at $41,000. Ruggie Capital Group purchased a new position in Black Hills in the 4th quarter valued at $67,000. FMR LLC purchased a new position in Black Hills in the 3rd quarter valued at $136,000. Finally, IFP Advisors Inc lifted its holdings in Black Hills by 119.9% in the 3rd quarter. IFP Advisors Inc now owns 2,412 shares of the utilities provider’s stock valued at $140,000 after purchasing an additional 1,315 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

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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