Black Hills Corp. (BKH) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Black Hills Corp. (NYSE:BKH) from a hold rating to a buy rating in a report published on Wednesday. The brokerage currently has $64.00 price objective on the stock.
According to Zacks, “Black Hills Corporation is an energy company that generates wholesale electricity and produces natural gas, crude oil and coal. They serve natural gas and electric utility customers in Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming. “
A number of other equities research analysts also recently weighed in on the company. TheStreet downgraded Black Hills Corp. from a buy rating to a hold rating in a research report on Tuesday, September 6th. JPMorgan Chase & Co. raised their price target on Black Hills Corp. from $62.00 to $67.00 and gave the company an overweight rating in a research report on Friday, August 5th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of Buy and an average price target of $61.33.
Black Hills Corp. (NYSE:BKH) traded down 0.71% on Wednesday, reaching $57.10. The company had a trading volume of 46,950 shares. The company’s 50 day moving average is $59.83 and its 200-day moving average is $60.48. Black Hills Corp. has a one year low of $40.00 and a one year high of $64.58. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 167.94 and a beta of 0.76.
Black Hills Corp. (NYSE:BKH) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.53 by $0.14. Black Hills Corp. had a net margin of 1.22% and a return on equity of 9.94%. During the same period in the previous year, the company posted $0.56 EPS. On average, equities research analysts expect that Black Hills Corp. will post $3.01 earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the stock. Nuveen Asset Management LLC raised its position in Black Hills Corp. by 13.3% in the first quarter. Nuveen Asset Management LLC now owns 24,030 shares of the company’s stock valued at $1,445,000 after buying an additional 2,816 shares during the last quarter. Renaissance Technologies LLC raised its position in Black Hills Corp. by 202.4% in the first quarter. Renaissance Technologies LLC now owns 602,400 shares of the company’s stock valued at $36,222,000 after buying an additional 403,200 shares during the last quarter. Wellington Management Group LLP raised its position in Black Hills Corp. by 3,961.9% in the first quarter. Wellington Management Group LLP now owns 192,085 shares of the company’s stock valued at $11,550,000 after buying an additional 187,356 shares during the last quarter. Geode Capital Management LLC raised its position in Black Hills Corp. by 8.1% in the first quarter. Geode Capital Management LLC now owns 332,123 shares of the company’s stock valued at $19,970,000 after buying an additional 25,026 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its position in Black Hills Corp. by 10.9% in the first quarter. UBS Asset Management Americas Inc. now owns 41,878 shares of the company’s stock valued at $2,518,000 after buying an additional 4,101 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.
About Black Hills Corp.
Black Hills Corporation is a holding company. The Company is an integrated energy company, which operates in the United States with two business groups: Utilities and Non-regulated Energy. Its Utilities Group consists of regulated Electric Utilities and regulated Gas Utilities segments, and the Company’s Non-regulated Energy Group consists of Power Generation, Coal Mining, and Oil and Gas segments.
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