Black Hills (NYSE:BKH) Stock Rating Upgraded by Zacks Investment Research

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Black Hills (NYSE:BKH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, Zacks.com reports. The firm currently has a $85.00 price objective on the utilities provider’s stock. Zacks Investment Research‘s price target suggests a potential upside of 13.20% from the company’s previous close.

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. “

Several other equities analysts have also recently weighed in on BKH. Bank of America upgraded Black Hills from a “neutral” rating to a “buy” rating in a report on Thursday, October 10th. Credit Suisse Group cut their target price on shares of Black Hills from $79.00 to $78.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. Wells Fargo & Co cut their target price on shares of Black Hills from $80.00 to $78.00 and set a “market perform” rating for the company in a research note on Wednesday. Finally, ValuEngine downgraded shares of Black Hills from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Black Hills presently has an average rating of “Hold” and a consensus target price of $74.00.

Shares of NYSE BKH traded down $0.01 during mid-day trading on Thursday, hitting $75.09. The company had a trading volume of 266,569 shares, compared to its average volume of 371,542. The company has a market capitalization of $4.58 billion, a PE ratio of 21.21, a price-to-earnings-growth ratio of 5.16 and a beta of 0.24. The firm has a 50-day simple moving average of $77.34 and a two-hundred day simple moving average of $77.18. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 1.26. Black Hills has a one year low of $59.49 and a one year high of $82.01.

Black Hills (NYSE:BKH) last announced its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.44 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.01). The company had revenue of $325.50 million during the quarter, compared to the consensus estimate of $385.42 million. Black Hills had a net margin of 12.32% and a return on equity of 8.73%. Black Hills’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.42 EPS. Sell-side analysts expect that Black Hills will post 3.45 earnings per share for the current fiscal year.

In other Black Hills news, Chairman David R. Emery sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $77.31, for a total transaction of $579,825.00. Following the completion of the sale, the chairman now directly owns 152,806 shares in the company, valued at $11,813,431.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shonn D. Stahlecker sold 10,000 shares of Black Hills stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $7.35, for a total transaction of $73,500.00. Insiders have sold 32,500 shares of company stock valued at $1,821,375 over the last 90 days. Company insiders own 1.00% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Black Hills by 16.1% in the second quarter. BlackRock Inc. now owns 8,732,992 shares of the utilities provider’s stock valued at $682,659,000 after buying an additional 1,211,902 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Black Hills by 3.8% in the second quarter. Vanguard Group Inc. now owns 7,007,898 shares of the utilities provider’s stock valued at $547,807,000 after buying an additional 259,047 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Black Hills by 44.8% in the second quarter. Renaissance Technologies LLC now owns 1,233,100 shares of the utilities provider’s stock valued at $96,391,000 after buying an additional 381,300 shares in the last quarter. Northern Trust Corp raised its position in shares of Black Hills by 1.8% in the second quarter. Northern Trust Corp now owns 1,213,623 shares of the utilities provider’s stock valued at $94,870,000 after buying an additional 21,235 shares in the last quarter. Finally, Macquarie Group Ltd. raised its position in shares of Black Hills by 0.8% in the second quarter. Macquarie Group Ltd. now owns 1,098,293 shares of the utilities provider’s stock valued at $85,854,000 after buying an additional 9,144 shares in the last quarter. Institutional investors own 87.79% of the company’s stock.

About Black Hills

Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. It operates through Electric Utilities, Gas Utilities, Power Generation, and Mining segments. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 212,000 electric customers in Colorado, Montana, South Dakota, and Wyoming, as well as provides electrical system construction services to large industrial customers.

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