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

Black Hills (NYSE:BKHFree Report) had its price target trimmed by Royal Bank of Canada from $61.00 to $57.00 in a report published on Friday, Benzinga reports. The firm currently has a sector perform rating on the utilities provider’s stock.

Other equities research analysts also recently issued research reports about the company. Mizuho upgraded Black Hills from an underperform rating to a neutral rating and set a $53.00 target price for the company in a research report on Tuesday, November 21st. Bank of America dropped their target price on Black Hills from $60.00 to $49.00 and set an underperform rating for the company in a research report on Monday, November 20th. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat, Black Hills currently has a consensus rating of Hold and a consensus price target of $55.80.

View Our Latest Analysis on Black Hills

Black Hills Price Performance

Shares of NYSE:BKH opened at $52.82 on Friday. The business has a 50 day moving average price of $53.12 and a 200 day moving average price of $52.92. Black Hills has a twelve month low of $46.43 and a twelve month high of $66.85. The company has a market cap of $3.59 billion, a price-to-earnings ratio of 13.47 and a beta of 0.65. The company has a quick ratio of 0.67, a current ratio of 0.77 and a debt-to-equity ratio of 1.17.

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

Black Hills Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 16th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date of this dividend is Thursday, February 15th. This is an increase from Black Hills’s previous quarterly dividend of $0.63. Black Hills’s dividend payout ratio (DPR) is currently 63.78%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BKH. Retirement Systems of Alabama raised its position in Black Hills by 1.0% during the 2nd quarter. Retirement Systems of Alabama now owns 85,904 shares of the utilities provider’s stock worth $5,177,000 after purchasing an additional 872 shares during the last quarter. State of New Jersey Common Pension Fund D raised its position in shares of Black Hills by 6.4% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 39,308 shares of the utilities provider’s stock worth $2,369,000 after acquiring an additional 2,359 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Black Hills in the 3rd quarter worth about $1,752,000. First Eagle Investment Management LLC raised its position in shares of Black Hills by 57.0% in the 3rd quarter. First Eagle Investment Management LLC now owns 159,190 shares of the utilities provider’s stock worth $8,053,000 after acquiring an additional 57,820 shares in the last quarter. Finally, Guggenheim Capital LLC raised its position in shares of Black Hills by 8.1% in the 2nd quarter. Guggenheim Capital LLC now owns 178,675 shares of the utilities provider’s stock worth $10,767,000 after acquiring an additional 13,335 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors.

About Black Hills

(Get Free Report)

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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