Black Hills Corp. (BKH) Downgraded to Sell at Zacks Investment Research
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. “
BKH has been the topic of several other research reports. TheStreet cut shares of Black Hills Corp. from a buy rating to a hold rating in a research note on Tuesday, September 6th. Bank of America Corp. reaffirmed a buy rating on shares of Black Hills Corp. in a research note on Tuesday, May 24th. Finally, JPMorgan Chase & Co. boosted their price target on shares of 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 investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. Black Hills Corp. has a consensus rating of Buy and a consensus price target of $62.17.
Black Hills Corp. (NYSE:BKH) opened at 60.22 on Tuesday. The stock has a market cap of $3.15 billion, a P/E ratio of 177.12 and a beta of 0.71. Black Hills Corp. has a 1-year low of $37.68 and a 1-year high of $64.58. The company has a 50-day moving average of $59.43 and a 200 day moving average of $60.25.
Black Hills Corp. (NYSE:BKH) last announced its earnings results on Wednesday, August 3rd. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by $0.14. Black Hills Corp. had a return on equity of 9.94% and a net margin of 1.22%. During the same quarter last year, the firm posted $0.56 EPS. Analysts predict that Black Hills Corp. will post $3.01 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Thursday, August 18th were issued a $0.42 dividend. The ex-dividend date was Tuesday, August 16th. This represents a $1.68 annualized dividend and a yield of 2.79%. Black Hills Corp.’s dividend payout ratio (DPR) is currently 646.18%.
A number of hedge funds have recently modified their holdings of BKH. State Street Corp raised its stake in shares of Black Hills Corp. by 43.5% in the first quarter. State Street Corp now owns 5,412,338 shares of the company’s stock valued at $325,439,000 after buying an additional 1,640,495 shares during the period. BlackRock Fund Advisors raised its stake in shares of Black Hills Corp. by 5.9% in the second quarter. BlackRock Fund Advisors now owns 5,035,979 shares of the company’s stock valued at $317,468,000 after buying an additional 278,362 shares during the period. Vanguard Group Inc. raised its stake in shares of Black Hills Corp. by 5.5% in the second quarter. Vanguard Group Inc. now owns 4,048,978 shares of the company’s stock valued at $255,248,000 after buying an additional 210,671 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in shares of Black Hills Corp. by 5.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,569,119 shares of the company’s stock valued at $98,917,000 after buying an additional 82,510 shares during the period. Finally, Adage Capital Partners GP L.L.C. raised its stake 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 valued at $90,195,000 after buying an additional 200,000 shares during the period. Hedge funds and other institutional investors own 88.67% of the company’s stock.
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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