Black Hills (NYSE:BKH) PT Lowered to $57.00

Black Hills (NYSE:BKHFree Report) had its target price reduced by Royal Bank of Canada from $61.00 to $57.00 in a research report released on Friday morning, Benzinga reports. They currently have a sector perform rating on the utilities provider’s stock.

A number of other equities analysts also recently weighed in on the stock. Bank of America cut their price target on shares of Black Hills from $60.00 to $49.00 and set an underperform rating on the stock in a report on Monday, November 20th. Mizuho raised shares of Black Hills from an underperform rating to a neutral rating and set a $53.00 price objective on the stock in a report on Tuesday, November 21st. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat.com, Black Hills has a consensus rating of Hold and an average price target of $55.80.

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Black Hills Price Performance

BKH opened at $52.82 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.77 and a quick ratio of 0.67. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of 13.47 and a beta of 0.65. The firm’s fifty day moving average price is $53.12 and its two-hundred day moving average price is $52.92. Black Hills has a 1 year low of $46.43 and a 1 year high of $66.85.

Black Hills (NYSE:BKHGet Free Report) last issued its quarterly earnings results on Thursday, February 8th. The utilities provider reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. The company had revenue of $591.70 million for the quarter, compared to the consensus estimate of $863.67 million. Black Hills had a net margin of 11.25% and a return on equity of 8.15%. During the same period in the previous year, the firm earned $1.11 EPS. As a group, analysts anticipate that Black Hills will post 3.9 earnings per share for the current fiscal year.

Black Hills Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 16th will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 4.92%. This is a boost from Black Hills’s previous quarterly dividend of $0.63. The ex-dividend date is Thursday, February 15th. Black Hills’s dividend payout ratio is 63.78%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Retirement Systems of Alabama grew its position in Black Hills by 1.0% during the second quarter. Retirement Systems of Alabama now owns 85,904 shares of the utilities provider’s stock valued at $5,177,000 after acquiring an additional 872 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its stake in shares of Black Hills by 6.4% during the second quarter. State of New Jersey Common Pension Fund D now owns 39,308 shares of the utilities provider’s stock valued at $2,369,000 after purchasing an additional 2,359 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of Black Hills during the third quarter valued at approximately $1,752,000. First Eagle Investment Management LLC boosted its stake in shares of Black Hills by 57.0% during the third quarter. First Eagle Investment Management LLC now owns 159,190 shares of the utilities provider’s stock valued at $8,053,000 after purchasing an additional 57,820 shares during the period. Finally, Guggenheim Capital LLC boosted its stake in shares of Black Hills by 8.1% during the second quarter. Guggenheim Capital LLC now owns 178,675 shares of the utilities provider’s stock valued at $10,767,000 after purchasing an additional 13,335 shares during the period. 86.64% of the stock is currently owned by institutional investors.

Black Hills Company Profile

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Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. It operates in two segments, Electric Utilities and Gas Utilities. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 220,000 electric utility customers in Colorado, Montana, South Dakota, and Wyoming; and owns and operates 1,482 megawatts of generation capacity and 9,024 miles of electric transmission and distribution lines.

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