Black Hills Corporation (BKH) Upgraded at Bank of America Corporation

Black Hills Corporation (NYSE:BKH) was upgraded by research analysts at Bank of America Corporation from an “underperform” rating to a “neutral” rating in a research note issued on Monday.

Other analysts have also recently issued reports about the stock. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $73.00 price target on shares of Black Hills Corporation in a report on Wednesday, August 9th. Zacks Investment Research raised shares of Black Hills Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Williams Capital cut shares of Black Hills Corporation from a “buy” rating to a “hold” rating and cut their price target for the company from $75.00 to $70.00 in a report on Friday, October 6th. Wells Fargo & Company started coverage on shares of Black Hills Corporation in a report on Friday, October 27th. They issued a “market perform” rating and a $58.00 price target on the stock. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $66.00 price target (down from $77.00) on shares of Black Hills Corporation in a report on Monday, November 6th. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. Black Hills Corporation currently has an average rating of “Buy” and an average target price of $68.75.

Shares of Black Hills Corporation (NYSE BKH) opened at $57.59 on Monday. The stock has a market cap of $3,080.18, a price-to-earnings ratio of 16.99, a P/E/G ratio of 3.09 and a beta of 0.78. The company has a quick ratio of 0.47, a current ratio of 0.69 and a debt-to-equity ratio of 1.73. Black Hills Corporation has a twelve month low of $56.75 and a twelve month high of $72.02.

Black Hills Corporation (NYSE:BKH) last posted its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.05). The company had revenue of $342.10 million during the quarter, compared to analyst estimates of $369.84 million. Black Hills Corporation had a net margin of 8.47% and a return on equity of 10.47%. The company’s revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.48 earnings per share. equities analysts predict that Black Hills Corporation will post 3.35 EPS for the current fiscal year.

WARNING: This report was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this report on another domain, it was illegally copied and republished in violation of United States & international trademark and copyright law. The original version of this report can be viewed at https://ledgergazette.com/2017/11/13/black-hills-corporation-bkh-upgraded-at-bank-of-america-corporation.html.

A number of hedge funds have recently added to or reduced their stakes in the business. Murphy Capital Management Inc. increased its stake in Black Hills Corporation by 0.4% during the second quarter. Murphy Capital Management Inc. now owns 5,670 shares of the utilities provider’s stock valued at $382,000 after purchasing an additional 20 shares during the last quarter. Ronna Sue Cohen increased its stake in Black Hills Corporation by 0.4% during the second quarter. Ronna Sue Cohen now owns 6,621 shares of the utilities provider’s stock valued at $447,000 after purchasing an additional 24 shares during the last quarter. Bollard Group LLC increased its stake in Black Hills Corporation by 0.6% during the second quarter. Bollard Group LLC now owns 4,960 shares of the utilities provider’s stock valued at $335,000 after purchasing an additional 32 shares during the last quarter. Teacher Retirement System of Texas increased its stake in Black Hills Corporation by 0.3% during the second quarter. Teacher Retirement System of Texas now owns 24,333 shares of the utilities provider’s stock valued at $1,642,000 after purchasing an additional 67 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its position in shares of Black Hills Corporation by 2.6% during the second quarter. Public Employees Retirement System of Ohio now owns 3,232 shares of the utilities provider’s stock worth $218,000 after acquiring an additional 81 shares during the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

About Black Hills Corporation

Black Hills Corporation is a holding company. The Company is an integrated energy company, which is focused primarily on regulated utilities. The Company operates through segments, including Electric Utilities, Gas Utilities, Power Generation, Mining, Oil and Gas, and Corporate. As of December 31, 2016, the Electric Utilities segment generated, transmitted and distributed electricity to approximately 208,500 customers in South Dakota, Wyoming, Colorado and Montana.

Analyst Recommendations for Black Hills Corporation (NYSE:BKH)

Receive News & Ratings for Black Hills Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Black Hills Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply