Black Hills Corp. (BKH) Receives $64.67 Average PT from Analysts
Black Hills Corp. (NYSE:BKH) has received an average rating of “Buy” from the seven ratings firms that are covering the stock. Two research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $64.67.
Several brokerages recently issued reports on BKH. Zacks Investment Research downgraded Black Hills Corp. from a “buy” rating to a “hold” rating in a report on Monday, October 31st. TheStreet cut Black Hills Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, September 6th. Finally, JPMorgan Chase & Co. boosted their price objective on Black Hills Corp. from $62.00 to $67.00 and gave the stock an “overweight” rating in a research report on Friday, August 5th.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its position in shares of Black Hills Corp. by 202.4% in the first quarter. Renaissance Technologies LLC now owns 602,400 shares of the company’s stock worth $36,222,000 after buying an additional 403,200 shares in the last quarter. RS Investment Management Co. LLC boosted its position in shares of Black Hills Corp. by 14.9% in the second quarter. RS Investment Management Co. LLC now owns 302,745 shares of the company’s stock worth $19,085,000 after buying an additional 39,275 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its position in shares of Black Hills Corp. by 15.4% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,500,000 shares of the company’s stock worth $90,195,000 after buying an additional 200,000 shares in the last quarter. Monarch Partners Asset Management LLC boosted its position in shares of Black Hills Corp. by 35.1% in the second quarter. Monarch Partners Asset Management LLC now owns 353,970 shares of the company’s stock worth $22,314,000 after buying an additional 91,900 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Black Hills Corp. by 2,854.0% in the second quarter. JPMorgan Chase & Co. now owns 141,675 shares of the company’s stock worth $8,931,000 after buying an additional 136,879 shares in the last quarter. 89.00% of the stock is currently owned by hedge funds and other institutional investors.
Black Hills Corp. (NYSE:BKH) opened at 58.01 on Wednesday. The firm’s 50-day moving average price is $59.75 and its 200 day moving average price is $60.55. The company has a market cap of $3.08 billion, a PE ratio of 73.43 and a beta of 0.73. Black Hills Corp. has a 52-week low of $40.00 and a 52-week high of $64.58.
Black Hills Corp. (NYSE:BKH) last released its quarterly earnings data on Wednesday, November 2nd. The company reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.05. The firm earned $333.80 million during the quarter, compared to the consensus estimate of $414.77 million. Black Hills Corp. had a return on equity of 9.10% and a net margin of 2.85%. The company’s quarterly revenue was up 22.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.64 earnings per share. On average, equities analysts predict that Black Hills Corp. will post $3.00 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Thursday, November 17th will be given a dividend of $0.42 per share. The ex-dividend date is Tuesday, November 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.90%. Black Hills Corp.’s dividend payout ratio is presently 227.03%.
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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