Black Hills (NYSE:BKH) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Black Hills (NYSE:BKH) from a buy rating to a hold rating in a research report report published on Tuesday morning, Zacks.com reports.

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. “

Separately, Sidoti upped their target price on shares of Black Hills from $78.00 to $80.00 and gave the stock a buy rating in a research report on Wednesday, August 25th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Buy and a consensus price target of $73.00.

BKH stock opened at $64.04 on Tuesday. The stock has a 50-day moving average price of $69.29 and a 200-day moving average price of $68.03. Black Hills has a 1-year low of $51.97 and a 1-year high of $72.78. The company has a current ratio of 0.46, a quick ratio of 0.37 and a debt-to-equity ratio of 1.28. The firm has a market cap of $4.07 billion, a PE ratio of 17.08, a price-to-earnings-growth ratio of 3.41 and a beta of 0.36.

Black Hills (NYSE:BKH) last released its quarterly earnings results on Monday, August 2nd. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. Black Hills had a return on equity of 8.73% and a net margin of 12.78%. The business had revenue of $372.60 million during the quarter. On average, analysts forecast that Black Hills will post 3.88 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Wednesday, August 18th were paid a $0.565 dividend. This represents a $2.26 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend was Tuesday, August 17th. Black Hills’s payout ratio is currently 60.59%.

In related news, SVP Stuart A. Wevik sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 4th. The shares were sold at an average price of $70.00, for a total value of $70,000.00. Following the sale, the senior vice president now owns 22,759 shares in the company, valued at $1,593,130. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Stuart A. Wevik sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, July 16th. The stock was sold at an average price of $68.54, for a total transaction of $137,080.00. Following the completion of the sale, the senior vice president now owns 24,759 shares in the company, valued at approximately $1,696,981.86. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,000 shares of company stock worth $274,080. Corporate insiders own 0.78% of the company’s stock.

Several institutional investors have recently modified their holdings of BKH. FMR LLC boosted its stake in shares of Black Hills by 18.3% during the 1st quarter. FMR LLC now owns 2,413 shares of the utilities provider’s stock worth $179,000 after acquiring an additional 373 shares during the last quarter. OLD Mission Capital LLC purchased a new position in shares of Black Hills during the 3rd quarter worth $611,000. The PNC Financial Services Group Inc. raised its position in shares of Black Hills by 1.5% during the 1st quarter. The PNC Financial Services Group Inc. now owns 18,058 shares of the utilities provider’s stock valued at $1,206,000 after purchasing an additional 268 shares during the period. IndexIQ Advisors LLC bought a new stake in shares of Black Hills during the 1st quarter valued at $401,000. Finally, Swiss National Bank raised its position in shares of Black Hills by 1.0% during the 1st quarter. Swiss National Bank now owns 143,279 shares of the utilities provider’s stock valued at $9,567,000 after purchasing an additional 1,400 shares during the period. Institutional investors and hedge funds own 87.12% of the company’s stock.

About Black Hills

Black Hills Corp. is a diversified energy company. It operates through the following segments: Electric Utilities, Gas Utilities, Power Generation, Mining, and Corporate and Other. The Electric Utilities segment generates, transmits, and distributes electricity in South Dakota, Wyoming, Colorado, and Montana.

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