Black Hills (NYSE:BKH) Upgraded at Jefferies Financial Group

Black Hills (NYSE:BKH) was upgraded by investment analysts at Jefferies Financial Group to a “strong-buy” rating in a research note issued on Wednesday, Zacks reports.

BKH has been the subject of several other research reports. Weiss Ratings raised shares of Black Hills from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 24th. Bank of America increased their price objective on shares of Black Hills from $87.00 to $97.00 and gave the stock a “buy” rating in a research note on Monday, September 21st. Wall Street Zen raised shares of Black Hills from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Freedom Broker upgraded shares of Black Hills from a “hold” rating to a “buy” rating and boosted their target price for the company from $69.00 to $78.00 in a research report on Wednesday, October 7th. Finally, BMO Capital Markets upped their price target on shares of Black Hills from $83.00 to $86.00 and gave the stock an “outperform” rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $83.25.

Black Hills Price Performance

Shares of NYSE BKH opened at $75.85 on Wednesday. The stock has a market capitalization of $5.78 billion, a PE ratio of 19.15, a P/E/G ratio of 3.03 and a beta of 0.68. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.52 and a quick ratio of 0.41. The business has a fifty day moving average price of $72.69 and a two-hundred day moving average price of $73.22. Black Hills has a fifty-two week low of $61.85 and a fifty-two week high of $78.69.

Black Hills (NYSE:BKH) last released its earnings results on Wednesday, August 5th. The utilities provider reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. The firm had revenue of $452.80 million during the quarter, compared to the consensus estimate of $490.89 million. Black Hills had a return on equity of 7.98% and a net margin of 13.01%. The company’s revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.38 EPS. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. As a group, equities analysts predict that Black Hills will post 4.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Black Hills

Several hedge funds and other institutional investors have recently modified their holdings of BKH. Public Employees Retirement System of Ohio raised its holdings in shares of Black Hills by 4.3% during the 1st quarter. Public Employees Retirement System of Ohio now owns 3,342 shares of the utilities provider’s stock worth $232,000 after buying an additional 137 shares in the last quarter. GAMMA Investing LLC boosted its stake in Black Hills by 17.5% in the second quarter. GAMMA Investing LLC now owns 1,134 shares of the utilities provider’s stock valued at $84,000 after buying an additional 169 shares in the last quarter. Capital Financial Group Inc. Co. ADV grew its position in Black Hills by 0.8% in the first quarter. Capital Financial Group Inc. Co. ADV now owns 22,121 shares of the utilities provider’s stock valued at $1,535,000 after acquiring an additional 171 shares during the last quarter. Corient Private Wealth LLC grew its position in Black Hills by 4.4% in the fourth quarter. Corient Private Wealth LLC now owns 4,804 shares of the utilities provider’s stock valued at $334,000 after acquiring an additional 204 shares during the last quarter. Finally, Baird Financial Group Inc. grew its position in Black Hills by 4.2% in the second quarter. Baird Financial Group Inc. now owns 5,979 shares of the utilities provider’s stock valued at $445,000 after acquiring an additional 241 shares during the last quarter. Institutional investors own 86.71% of the company’s stock.

Black Hills Company Profile

Black Hills Corporation (NYSE:BKH) is a regulated utility holding company headquartered in Rapid City, South Dakota. Through its operating subsidiaries, the company provides electric and natural gas utility services to residential, commercial, industrial and other customers.

Black Hills owns and operates electric generation, transmission and distribution facilities, as well as natural gas distribution, storage and transportation infrastructure. Its electric utilities serve customers in Colorado, Montana, South Dakota and Wyoming, while its natural gas utilities operate in Arkansas, Colorado, Iowa, Kansas, Nebraska and Wyoming.

The company traces its history to the development of utility services in the Black Hills region and was incorporated as Black Hills Corporation in 1941.