Black Hills (NYSE:BKH) Rating Increased to Hold at StockNews.com

Black Hills (NYSE:BKH) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Thursday.

A number of other research analysts have also recently weighed in on the stock. Scotiabank dropped their price objective on shares of Black Hills from $58.00 to $54.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. Royal Bank of Canada decreased their price target on shares of Black Hills from $61.00 to $57.00 and set a “sector perform” rating for the company in a research note on Friday, February 9th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $55.00.

Black Hills Stock Up 2.3 %

Shares of BKH stock traded up $1.28 during trading on Thursday, reaching $57.64. The company’s stock had a trading volume of 813,888 shares, compared to its average volume of 540,449. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.70 and a quick ratio of 0.56. The company has a market capitalization of $3.94 billion, a price-to-earnings ratio of 14.70 and a beta of 0.64. The stock’s 50-day moving average price is $53.63 and its 200 day moving average price is $52.60. Black Hills has a 1-year low of $46.43 and a 1-year high of $66.54.

Black Hills (NYSE:BKH) last announced its quarterly earnings data on Wednesday, May 8th. The utilities provider reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.17. The firm had revenue of $726.40 million during the quarter, compared to analysts’ expectations of $683.00 million. Black Hills had a net margin of 11.25% and a return on equity of 8.09%. The business’s quarterly revenue was down 21.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.73 earnings per share. On average, research analysts anticipate that Black Hills will post 3.9 EPS for the current year.

Institutional Trading of Black Hills

Several institutional investors have recently modified their holdings of BKH. Rise Advisors LLC purchased a new stake in shares of Black Hills during the 1st quarter worth approximately $31,000. Sunbelt Securities Inc. purchased a new stake in Black Hills in the 1st quarter valued at $33,000. Fifth Third Bancorp raised its position in Black Hills by 56.3% in the 1st quarter. Fifth Third Bancorp now owns 650 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 234 shares during the last quarter. Riverview Trust Co purchased a new stake in Black Hills in the 1st quarter valued at $38,000. Finally, Hexagon Capital Partners LLC raised its position in Black Hills by 77.2% in the 1st quarter. Hexagon Capital Partners LLC now owns 732 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 319 shares during the last quarter. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Black Hills Company Profile

Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. The company operates in two segments: Electric Utilities and Gas Utilities. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 222,000 electric utility customers in Colorado, Montana, South Dakota, and Wyoming; and owns and operates 1,394 megawatts of generation capacity and 9,106 miles of electric transmission and distribution lines.