Black Hills Co. (NYSE:BKH) Receives $61.67 Average PT from Brokerages

Posted by Defense World Staff on Oct 20th, 2023

Shares of Black Hills Co. (NYSE:BKH – Get Free Report) have been given an average rating of “Reduce” by the six brokerages that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $61.67.

BKH has been the topic of several recent research reports. TheStreet cut shares of Black Hills from a “b” rating to a “c+” rating in a research note on Tuesday, September 5th. StockNews.com initiated coverage on shares of Black Hills in a research note on Thursday, October 5th. They issued a “sell” rating on the stock. Royal Bank of Canada lowered their price objective on shares of Black Hills from $68.00 to $61.00 and set a “sector perform” rating on the stock in a research note on Wednesday, September 6th. Mizuho lowered their price objective on shares of Black Hills from $56.00 to $53.00 and set an “underperform” rating on the stock in a research note on Friday, September 22nd. Finally, Wells Fargo & Company decreased their target price on shares of Black Hills from $66.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Friday, August 4th.

Check Out Our Latest Analysis on Black Hills

Hedge Funds Weigh In On Black Hills

Several large investors have recently added to or reduced their stakes in the company. State of Wyoming purchased a new position in shares of Black Hills in the second quarter worth $27,000. Geneos Wealth Management Inc. lifted its holdings in shares of Black Hills by 87.3% in the third quarter. Geneos Wealth Management Inc. now owns 562 shares of the utilities provider’s stock worth $28,000 after buying an additional 262 shares in the last quarter. ST Germain D J Co. Inc. purchased a new position in shares of Black Hills in the second quarter worth $30,000. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Black Hills in the first quarter worth $31,000. Finally, GPS Wealth Strategies Group LLC purchased a new position in shares of Black Hills in the first quarter worth $35,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Black Hills Stock Performance

Shares of NYSE BKH opened at $50.09 on Tuesday. The firm’s 50-day moving average price is $53.42 and its 200-day moving average price is $59.14. The company has a quick ratio of 0.68, a current ratio of 0.82 and a debt-to-equity ratio of 1.24. The company has a market cap of $3.36 billion, a PE ratio of 13.43, a PEG ratio of 6.23 and a beta of 0.61. Black Hills has a 52-week low of $46.43 and a 52-week high of $73.98.

Black Hills (NYSE:BKH – Get Free Report) last issued its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.03). Black Hills had a return on equity of 7.85% and a net margin of 9.46%. The business had revenue of $411.30 million during the quarter, compared to the consensus estimate of $552.13 million. During the same quarter last year, the company earned $0.52 EPS. Black Hills’s revenue for the quarter was down 12.9% on a year-over-year basis. As a group, analysts anticipate that Black Hills will post 3.75 EPS for the current year.

Black Hills Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 18th were issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 4.99%. The ex-dividend date of this dividend was Thursday, August 17th. Black Hills’s dividend payout ratio is currently 67.02%.

Black Hills Company Profile

(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.