Black Hills (NYSE:BKH) Now Covered by Mizuho

Equities researchers at Mizuho initiated coverage on shares of Black Hills (NYSE:BKH) in a research report issued to clients and investors on Friday, The Fly reports. The brokerage set a “buy” rating and a $80.00 price target on the utilities provider’s stock. Mizuho’s price objective would suggest a potential upside of 3.88% from the stock’s previous close.

A number of other brokerages also recently issued reports on BKH. Bank of America upgraded Black Hills from a “neutral” rating to a “buy” rating in a research report on Thursday, October 10th. Credit Suisse Group lowered their price target on Black Hills from $79.00 to $78.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Zacks Investment Research upgraded Black Hills from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a research report on Thursday, November 7th. ValuEngine downgraded Black Hills from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Co lowered their price target on Black Hills from $80.00 to $78.00 and set a “market perform” rating for the company in a research report on Wednesday, November 6th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $74.86.

BKH stock opened at $77.01 on Friday. The firm has a market cap of $4.69 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 5.15 and a beta of 0.24. The firm has a fifty day moving average price of $77.06 and a 200 day moving average price of $77.42. Black Hills has a fifty-two week low of $59.49 and a fifty-two week high of $82.01. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.37 and a current ratio of 0.55.

Black Hills (NYSE:BKH) last issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 8.67% and a net margin of 12.32%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.42 earnings per share. On average, equities analysts predict that Black Hills will post 3.47 EPS for the current year.

In other news, Chairman David R. Emery sold 7,500 shares of Black Hills stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $75.96, for a total transaction of $569,700.00. Following the completion of the sale, the chairman now directly owns 137,806 shares in the company, valued at $10,467,743.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Shonn D. Stahlecker sold 10,000 shares of Black Hills stock in a transaction on Monday, October 21st. The stock was sold at an average price of $7.35, for a total value of $73,500.00. Over the last quarter, insiders have sold 32,500 shares of company stock valued at $1,812,600. Corporate insiders own 1.00% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in BKH. FMR LLC grew its holdings in Black Hills by 18.3% in the 1st quarter. FMR LLC now owns 2,413 shares of the utilities provider’s stock valued at $179,000 after buying an additional 373 shares in the last quarter. Retirement Systems of Alabama lifted its holdings in shares of Black Hills by 0.5% in the second quarter. Retirement Systems of Alabama now owns 70,668 shares of the utilities provider’s stock valued at $5,524,000 after purchasing an additional 369 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Black Hills by 1.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 21,882 shares of the utilities provider’s stock valued at $1,711,000 after purchasing an additional 309 shares in the last quarter. NEXT Financial Group Inc purchased a new stake in shares of Black Hills in the second quarter valued at $1,786,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Black Hills in the second quarter valued at $313,000. Hedge funds and other institutional investors own 86.99% 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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