Black Hills (BKH) Downgraded to “Neutral” at Credit Suisse Group
Black Hills (NYSE:BKH) was downgraded by equities researchers at Credit Suisse Group from an “outperform” rating to a “neutral” rating in a note issued to investors on Tuesday, MarketBeat reports. They presently have a $66.00 price target on the utilities provider’s stock. Credit Suisse Group’s target price would suggest a potential upside of 21.23% from the stock’s previous close.
Several other analysts also recently issued reports on the company. Williams Capital downgraded Black Hills from a “buy” rating to a “hold” rating and decreased their target price for the company from $75.00 to $70.00 in a research note on Friday, October 6th. Bank of America initiated coverage on Black Hills in a research note on Tuesday, October 24th. They set an “underperform” rating and a $66.00 target price on the stock. Wells Fargo & Co initiated coverage on Black Hills in a research note on Friday, October 27th. They set a “market perform” rating and a $58.00 target price on the stock. Royal Bank of Canada decreased their target price on Black Hills from $72.00 to $64.00 and set an “outperform” rating on the stock in a research note on Monday, November 6th. Finally, JPMorgan Chase & Co. lifted their target price on Black Hills from $76.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, October 12th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $67.13.
Black Hills (NYSE BKH) traded down $0.55 during mid-day trading on Tuesday, hitting $54.44. The stock had a trading volume of 663,273 shares, compared to its average volume of 610,441. Black Hills has a 12-month low of $54.20 and a 12-month high of $72.02. The company has a current ratio of 0.69, a quick ratio of 0.47 and a debt-to-equity ratio of 1.73. The stock has a market cap of $2,941.12, a PE ratio of 20.78, a P/E/G ratio of 3.27 and a beta of 0.73.
Black Hills (NYSE:BKH) last posted its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $0.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.05). Black Hills had a net margin of 8.47% and a return on equity of 10.47%. The company had revenue of $342.10 million for the quarter, compared to analysts’ expectations of $369.84 million. During the same period in the previous year, the firm earned $0.48 earnings per share. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. equities analysts forecast that Black Hills will post 3.34 earnings per share for the current year.
Institutional investors and hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Black Hills by 8.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,950 shares of the utilities provider’s stock worth $132,000 after acquiring an additional 146 shares during the last quarter. Advisor Group Inc. increased its stake in Black Hills by 7.7% in the 2nd quarter. Advisor Group Inc. now owns 2,119 shares of the utilities provider’s stock worth $142,000 after acquiring an additional 151 shares during the last quarter. Flinton Capital Management LLC increased its stake in Black Hills by 68.8% in the 2nd quarter. Flinton Capital Management LLC now owns 2,592 shares of the utilities provider’s stock worth $175,000 after acquiring an additional 1,056 shares during the last quarter. Suntrust Banks Inc. bought a new stake in Black Hills in the 2nd quarter worth approximately $202,000. Finally, Quantbot Technologies LP increased its stake in Black Hills by 172.5% in the 2nd quarter. Quantbot Technologies LP now owns 3,033 shares of the utilities provider’s stock worth $204,000 after acquiring an additional 1,920 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors.
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Black Hills Company Profile
Black Hills Corporation is a holding company. The Company is an integrated energy company, which is focused primarily on regulated utilities. The Company operates through segments, including Electric Utilities, Gas Utilities, Power Generation, Mining, Oil and Gas, and Corporate. As of December 31, 2016, the Electric Utilities segment generated, transmitted and distributed electricity to approximately 208,500 customers in South Dakota, Wyoming, Colorado and Montana.
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