BMO Capital Markets Cuts Black Hills (NYSE:BKH) Price Target to $85.00

Black Hills (NYSE:BKH) had its price objective trimmed by BMO Capital Markets from $86.00 to $85.00 in a research note published on Wednesday,Benzinga reports. The firm currently has an outperform rating on the utilities provider’s stock.

A number of other equities research analysts have also weighed in on the company. LADENBURG THALM/SH SH initiated coverage on Black Hills in a research report on Wednesday, April 1st. They set a “buy” rating and a $77.00 price objective on the stock. Oppenheimer set a $78.00 target price on Black Hills in a research report on Thursday, June 11th. Bank of America lifted their price target on Black Hills from $78.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Weiss Ratings cut Black Hills from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 9th. Finally, Wall Street Zen downgraded Black Hills from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Six research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Black Hills presently has an average rating of “Buy” and an average target price of $81.67.

Black Hills Stock Performance

Shares of Black Hills stock opened at $75.23 on Wednesday. Black Hills has a fifty-two week low of $55.79 and a fifty-two week high of $78.69. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.53. The firm has a market capitalization of $5.73 billion, a P/E ratio of 19.59, a P/E/G ratio of 2.97 and a beta of 0.71. The company’s 50 day moving average price is $73.57 and its two-hundred day moving average price is $73.01.

Black Hills (NYSE:BKH) last announced its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.88 by ($0.09). Black Hills had a return on equity of 7.77% and a net margin of 12.61%.The company had revenue of $780.70 million for the quarter, compared to analyst estimates of $769.19 million. During the same quarter last year, the company posted $1.87 earnings per share. The firm’s quarterly revenue was down 3.0% on a year-over-year basis. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. On average, equities analysts forecast that Black Hills will post 4.34 earnings per share for the current fiscal year.

Black Hills Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were issued a $0.703 dividend. This represents a $2.81 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Friday, May 15th. Black Hills’s dividend payout ratio is presently 73.18%.

Insiders Place Their Bets

In related news, Director Robert P. Otto sold 4,109 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $74.22, for a total transaction of $304,969.98. Following the completion of the transaction, the director directly owned 10,886 shares of the company’s stock, valued at $807,958.92. This trade represents a 27.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.56% of the stock is owned by insiders.

Institutional Investors Weigh In On Black Hills

Several institutional investors and hedge funds have recently made changes to their positions in BKH. Vista Investment Partners LLC bought a new position in shares of Black Hills during the second quarter worth about $409,000. Hennion & Walsh Asset Management Inc. boosted its holdings in Black Hills by 64.1% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 15,018 shares of the utilities provider’s stock valued at $1,117,000 after acquiring an additional 5,864 shares during the last quarter. Bill Few Associates Inc. boosted its holdings in Black Hills by 11.2% in the second quarter. Bill Few Associates Inc. now owns 4,258 shares of the utilities provider’s stock valued at $317,000 after acquiring an additional 429 shares during the last quarter. GAMMA Investing LLC increased its position in Black Hills by 17.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,134 shares of the utilities provider’s stock valued at $84,000 after purchasing an additional 169 shares during the period. Finally, Western Wealth Management LLC acquired a new stake in Black Hills during the 1st quarter valued at approximately $817,000. Institutional investors and hedge funds own 86.71% of the company’s stock.

About Black Hills

Black Hills Corporation is a diversified energy company based in Rapid City, South Dakota, that provides electricity and natural gas distribution services to residential, commercial and industrial customers. Through its regulated utility subsidiaries—Black Hills Power, Cheyenne Light & Power, and Black Hills Energy—the company delivers reliable energy across Colorado, Kansas, Montana, Nebraska, South Dakota and Wyoming.

In addition to its distribution operations, Black Hills owns and operates a generation portfolio that includes natural gas–fired plants, coal-fired units, hydroelectric facilities and wind projects.