Black Hills Corp (NYSE:BKH)‘s stock had its “buy” rating reaffirmed by research analysts at Royal Bank of Canada in a research note issued on Friday. They currently have a $70.00 price target on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 7.51% from the stock’s previous close.
Several other research firms also recently weighed in on BKH. TheStreet upgraded Black Hills Corp from a “c+” rating to a “b” rating in a research note on Tuesday, January 17th. Credit Suisse Group AG began coverage on Black Hills Corp in a research note on Wednesday, January 25th. They issued an “outperform” rating and a $69.00 price target on the stock. Singular Research began coverage on Black Hills Corp in a research note on Wednesday, December 14th. They issued a “buy” rating and a $68.00 price target on the stock. Finally, Zacks Investment Research upgraded Black Hills Corp from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research note on Tuesday, January 17th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $68.33.
Shares of Black Hills Corp (NYSE:BKH) opened at 65.11 on Friday. Black Hills Corp has a 52 week low of $54.76 and a 52 week high of $67.02. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 47.53 and a beta of 0.71. The firm has a 50 day moving average price of $63.38 and a 200 day moving average price of $60.94.
Black Hills Corp (NYSE:BKH) last posted its quarterly earnings results on Wednesday, February 1st. The company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.08. The company had revenue of $463.80 million for the quarter, compared to the consensus estimate of $536.20 million. Black Hills Corp had a return on equity of 10.39% and a net margin of 4.65%. The firm’s quarterly revenue was up 45.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.71 EPS. Equities analysts forecast that Black Hills Corp will post $3.54 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Wednesday, February 15th were paid a $0.445 dividend. The ex-dividend date of this dividend was Monday, February 13th. This represents a $1.78 annualized dividend and a dividend yield of 2.73%. This is an increase from Black Hills Corp’s previous quarterly dividend of $0.42. Black Hills Corp’s dividend payout ratio is presently 129.93%.
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In related news, SVP Jennifer C. Landis purchased 1,200 shares of the business’s stock in a transaction that occurred on Wednesday, February 8th. The shares were bought at an average price of $60.85 per share, for a total transaction of $73,020.00. Following the purchase, the senior vice president now directly owns 5,917 shares of the company’s stock, valued at approximately $360,049.45. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.30% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Creative Planning increased its stake in shares of Black Hills Corp by 2.9% in the third quarter. Creative Planning now owns 1,716 shares of the company’s stock valued at $105,000 after buying an additional 48 shares in the last quarter. Massmutual Trust Co. FSB ADV acquired a new stake in shares of Black Hills Corp during the fourth quarter valued at approximately $108,000. Advisor Group Inc. increased its stake in shares of Black Hills Corp by 5.2% in the third quarter. Advisor Group Inc. now owns 1,942 shares of the company’s stock valued at $119,000 after buying an additional 96 shares in the last quarter. KBC Group NV acquired a new stake in shares of Black Hills Corp during the third quarter valued at approximately $179,000. Finally, Elkfork Partners LLC acquired a new stake in shares of Black Hills Corp during the fourth quarter valued at approximately $196,000. Institutional investors and hedge funds own 89.27% of the company’s stock.
Black Hills Corp Company Profile
Black Hills Corporation is a holding company. The Company is an integrated energy company, which operates in the United States with two business groups: Utilities and Non-regulated Energy. Its Utilities Group consists of regulated Electric Utilities and regulated Gas Utilities segments, and the Company’s Non-regulated Energy Group consists of Power Generation, Coal Mining, and Oil and Gas segments.
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