Weiss Ratings Reaffirms Hold (C) Rating for Black Hills (NYSE:BKH)

Black Hills (NYSE:BKH)‘s stock had its “hold (c)” rating reissued by research analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Separately, Bank of America upgraded Black Hills from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $57.00 to $64.00 in a research note on Wednesday, August 20th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $66.00.

Black Hills Stock Performance

Black Hills stock opened at $61.05 on Wednesday. The firm has a market capitalization of $4.45 billion, a P/E ratio of 15.38, a PEG ratio of 2.86 and a beta of 0.73. The stock has a fifty day moving average price of $59.95 and a 200 day moving average price of $58.79. Black Hills has a 52 week low of $54.92 and a 52 week high of $65.59. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 1.06.

Black Hills (NYSE:BKH) last released its earnings results on Wednesday, July 30th. The utilities provider reported $0.38 EPS for the quarter, meeting the consensus estimate of $0.38. The firm had revenue of $439.00 million during the quarter, compared to analyst estimates of $412.69 million. Black Hills had a return on equity of 7.81% and a net margin of 12.68%.The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.33 earnings per share. Black Hills has set its FY 2025 guidance at 4.000-4.200 EPS. Equities research analysts anticipate that Black Hills will post 4.12 earnings per share for the current year.

Institutional Investors Weigh In On Black Hills

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Black Hills by 0.4% in the first quarter. Vanguard Group Inc. now owns 8,634,076 shares of the utilities provider’s stock valued at $523,657,000 after buying an additional 31,853 shares in the last quarter. State Street Corp grew its stake in shares of Black Hills by 0.8% in the second quarter. State Street Corp now owns 3,841,615 shares of the utilities provider’s stock valued at $215,515,000 after buying an additional 31,093 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Black Hills by 2.1% in the second quarter. Geode Capital Management LLC now owns 1,822,356 shares of the utilities provider’s stock valued at $102,252,000 after buying an additional 36,818 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Black Hills by 59.3% in the second quarter. Franklin Resources Inc. now owns 1,045,165 shares of the utilities provider’s stock valued at $58,634,000 after buying an additional 388,936 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Black Hills by 1.2% in the second quarter. AQR Capital Management LLC now owns 899,103 shares of the utilities provider’s stock valued at $50,440,000 after buying an additional 10,691 shares in the last quarter. 86.71% of the stock is currently owned by institutional investors and hedge funds.

About Black Hills

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.