Black Hills (BKH) Upgraded to “Outperform” at Credit Suisse Group

Black Hills (NYSE:BKH) was upgraded by investment analysts at Credit Suisse Group from a “neutral” rating to an “outperform” rating in a research note issued on Wednesday. The firm presently has a $65.00 price objective on the utilities provider’s stock, up from their prior price objective of $62.00. Credit Suisse Group’s target price points to a potential upside of 6.84% from the stock’s previous close.

Several other equities analysts also recently weighed in on the stock. Zacks Investment Research raised shares of Black Hills from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a report on Wednesday, October 10th. ValuEngine raised shares of Black Hills from a “sell” rating to a “hold” rating in a report on Thursday, July 5th. Howard Weil assumed coverage on shares of Black Hills in a report on Tuesday, July 24th. They set a “sector perform” rating and a $58.00 price target on the stock. Wells Fargo & Co lifted their price target on shares of Black Hills from $62.00 to $64.00 and gave the company a “market perform” rating in a report on Monday, September 17th. Finally, Bank of America downgraded shares of Black Hills from a “neutral” rating to an “underperform” rating and lifted their price target for the company from $59.00 to $60.00 in a report on Thursday, July 12th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $61.88.

BKH opened at $60.84 on Wednesday. The company has a current ratio of 0.52, a quick ratio of 0.39 and a debt-to-equity ratio of 1.48. The company has a market capitalization of $3.11 billion, a P/E ratio of 18.11, a price-to-earnings-growth ratio of 3.81 and a beta of 0.36. Black Hills has a 12-month low of $50.49 and a 12-month high of $67.93.

Black Hills (NYSE:BKH) last posted its quarterly earnings data on Monday, August 6th. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. The company had revenue of $355.70 million for the quarter, compared to the consensus estimate of $352.83 million. Black Hills had a net margin of 13.90% and a return on equity of 10.40%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.41 earnings per share. On average, equities research analysts predict that Black Hills will post 3.4 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of BKH. Flagship Harbor Advisors LLC bought a new position in shares of Black Hills in the second quarter worth about $164,000. Zeke Capital Advisors LLC purchased a new stake in Black Hills in the second quarter worth about $205,000. Cim Investment Mangement Inc. purchased a new stake in Black Hills in the second quarter worth about $205,000. Commonwealth Equity Services LLC purchased a new stake in Black Hills in the first quarter worth about $210,000. Finally, Hartford Investment Management Co. purchased a new stake in Black Hills in the second quarter worth about $213,000. Institutional investors and hedge funds own 99.67% of the company’s stock.

About Black Hills

Black Hills Corporation, through its subsidiaries, operates as a vertically-integrated utility company in the United States. The company's Electric Utilities segment generates, transmits, and distributes electricity to approximately 210,000 electric customers in South Dakota, Wyoming, Colorado, and Montana.

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