Black Hills (NYSE:BKH) Price Target Raised to $87.00

Black Hills (NYSE:BKH) had its price objective increased by Bank of America from $78.00 to $87.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the utilities provider’s stock. Bank of America‘s price target indicates a potential upside of 16.24% from the stock’s current price.

BKH has been the subject of several other reports. Oppenheimer set a $78.00 price target on shares of Black Hills in a report on Thursday, June 11th. BMO Capital Markets increased their target price on shares of Black Hills from $84.00 to $91.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 15th. LADENBURG THALM/SH SH initiated coverage on shares of Black Hills in a research note on Wednesday, April 1st. They set a “buy” rating and a $77.00 target price for the company. Siebert Williams Shank upgraded shares of Black Hills from a “hold” rating to a “buy” rating and boosted their price target for the company from $79.00 to $82.00 in a report on Thursday, March 12th. Finally, Wall Street Zen downgraded shares of Black Hills from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Six equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Black Hills has an average rating of “Buy” and a consensus price target of $82.67.

Black Hills Trading Up 2.1%

Shares of NYSE:BKH traded up $1.57 during midday trading on Friday, reaching $74.85. The company had a trading volume of 514,050 shares, compared to its average volume of 1,001,601. The company has a fifty day simple moving average of $73.40 and a two-hundred day simple moving average of $72.60. The firm has a market cap of $5.70 billion, a price-to-earnings ratio of 19.49, a price-to-earnings-growth ratio of 2.88 and a beta of 0.71. Black Hills has a 1-year low of $55.79 and a 1-year high of $78.69. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.53 and a current ratio of 0.65.

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

Insider Buying and Selling

In other Black Hills news, Director Robert P. Otto sold 4,109 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $74.22, for a total transaction of $304,969.98. Following the completion of the transaction, the director owned 10,886 shares of the company’s stock, valued at $807,958.92. The trade was a 27.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.56% of the stock is owned by company insiders.

Institutional Trading of Black Hills

Several institutional investors have recently made changes to their positions in BKH. Public Employees Retirement System of Ohio increased its holdings in shares of Black Hills by 4.3% in the first quarter. Public Employees Retirement System of Ohio now owns 3,342 shares of the utilities provider’s stock valued at $232,000 after purchasing an additional 137 shares in the last quarter. Meeder Advisory Services Inc. increased its stake in shares of Black Hills by 1.6% in the 4th quarter. Meeder Advisory Services Inc. now owns 9,192 shares of the utilities provider’s stock valued at $638,000 after buying an additional 145 shares during the period. Van ECK Associates Corp raised its position in shares of Black Hills by 0.6% during the third quarter. Van ECK Associates Corp now owns 26,208 shares of the utilities provider’s stock worth $1,614,000 after acquiring an additional 154 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Black Hills by 11.5% during the fourth quarter. Farther Finance Advisors LLC now owns 1,516 shares of the utilities provider’s stock valued at $105,000 after acquiring an additional 156 shares during the period. Finally, Concurrent Investment Advisors LLC lifted its stake in shares of Black Hills by 4.6% during the fourth quarter. Concurrent Investment Advisors LLC now owns 3,827 shares of the utilities provider’s stock valued at $266,000 after acquiring an additional 168 shares during the period. 86.71% of the stock is currently owned by institutional investors and hedge funds.

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.