Black Hills (BKH) Stock Rating Lowered by JPMorgan Chase & Co.
Black Hills (NYSE:BKH) was downgraded by investment analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report issued on Wednesday, Marketbeat.com reports. They presently have a $56.00 price objective on the utilities provider’s stock. JPMorgan Chase & Co.’s target price points to a potential upside of 10.41% from the company’s previous close.
A number of other equities analysts have also recently weighed in on the company. Credit Suisse Group cut Black Hills from an “outperform” rating to a “neutral” rating and set a $66.00 price target for the company. in a report on Tuesday, January 9th. Bank of America initiated coverage on Black Hills in a report on Tuesday, October 24th. They issued an “underperform” rating and a $66.00 price target for the company. Wells Fargo & Co initiated coverage on Black Hills in a report on Friday, October 27th. They issued a “market perform” rating and a $58.00 price target for the company. Royal Bank of Canada cut their price target on Black Hills from $72.00 to $64.00 and set an “outperform” rating for the company in a report on Monday, November 6th. Finally, Williams Capital raised Black Hills from a “hold” rating to a “buy” rating and cut their price target for the stock from $70.00 to $62.00 in a report on Wednesday, January 10th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $64.50.
Black Hills (NYSE BKH) opened at $50.72 on Wednesday. Black Hills has a 1-year low of $50.71 and a 1-year high of $72.02. The firm has a market capitalization of $2,710.00, a price-to-earnings ratio of 14.13, a PEG ratio of 3.20 and a beta of 0.55. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.69 and a quick ratio of 0.47.
Institutional investors have recently added to or reduced their stakes in the stock. Covenant Multifamily Offices LLC acquired a new position in Black Hills in the fourth quarter valued at $102,000. Ffcm LLC increased its stake in Black Hills by 1,201.5% in the fourth quarter. Ffcm LLC now owns 1,770 shares of the utilities provider’s stock valued at $106,000 after purchasing an additional 1,634 shares during the last quarter. Advisor Group Inc. increased its stake in Black Hills by 7.7% in the second quarter. Advisor Group Inc. now owns 2,119 shares of the utilities provider’s stock valued at $142,000 after purchasing an additional 151 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Black Hills by 48.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,890 shares of the utilities provider’s stock valued at $174,000 after purchasing an additional 940 shares during the last quarter. Finally, Flinton Capital Management LLC increased its stake in Black Hills by 68.8% in the second quarter. Flinton Capital Management LLC now owns 2,592 shares of the utilities provider’s stock valued at $175,000 after purchasing an additional 1,056 shares during the last quarter. Hedge funds and other institutional investors own 93.81% of the company’s stock.
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About Black Hills
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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