Black Hills Corporation (BKH) Stock Rating Lowered by Williams Capital
Black Hills Corporation (NYSE:BKH) was downgraded by equities research analysts at Williams Capital from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday. They presently have a $70.00 price target on the utilities provider’s stock, down from their prior price target of $75.00. Williams Capital’s target price would indicate a potential upside of 4.35% from the company’s previous close.
BKH has been the subject of several other reports. Royal Bank Of Canada reiterated a “buy” rating and issued a $70.00 price target on shares of Black Hills Corporation in a research report on Monday, July 31st. Zacks Investment Research lowered Black Hills Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. BidaskClub lowered Black Hills Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, June 29th. Finally, Credit Suisse Group lifted their price objective on Black Hills Corporation from $75.00 to $77.00 and gave the company an “outperform” rating in a research note on Monday, October 2nd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $73.80.
Shares of Black Hills Corporation (NYSE BKH) opened at 67.08 on Friday. The stock’s 50 day moving average price is $69.51 and its 200-day moving average price is $68.91. Black Hills Corporation has a 52-week low of $54.76 and a 52-week high of $72.02. The company has a market capitalization of $3.59 billion, a P/E ratio of 28.01 and a beta of 0.79.
Black Hills Corporation (NYSE:BKH) last announced its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.41 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.10). The company had revenue of $348.00 million during the quarter, compared to analysts’ expectations of $356.85 million. Black Hills Corporation had a net margin of 7.71% and a return on equity of 10.48%. Black Hills Corporation’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.39 earnings per share. On average, equities analysts expect that Black Hills Corporation will post $3.57 earnings per share for the current year.
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A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Black Hills Corporation by 1.1% during the second quarter. BlackRock Inc. now owns 8,335,355 shares of the utilities provider’s stock valued at $562,384,000 after buying an additional 91,668 shares during the period. Vanguard Group Inc. boosted its stake in Black Hills Corporation by 2.3% during the second quarter. Vanguard Group Inc. now owns 5,223,071 shares of the utilities provider’s stock valued at $352,401,000 after buying an additional 118,774 shares during the period. Goldman Sachs Group Inc. boosted its stake in Black Hills Corporation by 7.4% during the second quarter. Goldman Sachs Group Inc. now owns 2,494,071 shares of the utilities provider’s stock valued at $168,275,000 after buying an additional 171,383 shares during the period. Macquarie Group Ltd. boosted its stake in Black Hills Corporation by 19.1% during the second quarter. Macquarie Group Ltd. now owns 974,182 shares of the utilities provider’s stock valued at $65,728,000 after buying an additional 155,969 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Black Hills Corporation by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 970,853 shares of the utilities provider’s stock valued at $64,531,000 after buying an additional 4,188 shares during the period. 93.83% of the stock is owned by institutional investors.
About Black Hills Corporation
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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