Credit Suisse Group Increases Black Hills Corporation (BKH) Price Target to $77.00
Black Hills Corporation (NYSE:BKH) had its price target boosted by equities research analysts at Credit Suisse Group from $75.00 to $77.00 in a report issued on Monday. The firm currently has an “outperform” rating on the utilities provider’s stock. Credit Suisse Group’s target price indicates a potential upside of 11.46% from the stock’s previous close.
BKH has been the subject of several other research reports. Williams Capital upped their price objective on shares of Black Hills Corporation from $68.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, June 19th. Royal Bank Of Canada reissued a “buy” rating and issued a $73.00 target price on shares of Black Hills Corporation in a report on Wednesday, August 9th. Zacks Investment Research raised shares of Black Hills Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Finally, BidaskClub cut shares of Black Hills Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Black Hills Corporation has an average rating of “Buy” and a consensus target price of $73.83.
Black Hills Corporation (BKH) opened at 69.08 on Monday. The company has a market cap of $3.69 billion, a PE ratio of 28.84 and a beta of 0.79. The stock has a 50 day moving average of $69.59 and a 200-day moving average of $68.89. Black Hills Corporation has a 1-year low of $54.76 and a 1-year high of $72.02.
Black Hills Corporation (NYSE:BKH) last released its earnings results on Thursday, August 3rd. The utilities provider reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.10). Black Hills Corporation had a return on equity of 10.48% and a net margin of 7.71%. The company had revenue of $348.00 million for the quarter, compared to analyst estimates of $356.85 million. During the same period last year, the company posted $0.39 earnings per share. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities research analysts predict that Black Hills Corporation will post $3.57 earnings per share for the current year.
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Large investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Black Hills Corporation by 8.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,950 shares of the utilities provider’s stock valued at $132,000 after acquiring an additional 146 shares during the last quarter. Advisor Group Inc. raised its stake in Black Hills Corporation by 7.7% during the second quarter. Advisor Group Inc. now owns 2,119 shares of the utilities provider’s stock worth $142,000 after acquiring an additional 151 shares in the last quarter. Flinton Capital Management LLC raised its stake in Black Hills Corporation by 68.8% during the second 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 in the last quarter. Denver Investment Advisors LLC acquired a new position in Black Hills Corporation during the second quarter worth about $202,000. Finally, Suntrust Banks Inc. acquired a new position in Black Hills Corporation during the second quarter worth about $202,000. 93.83% of the stock is currently owned by institutional investors and hedge funds.
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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