Black Hills (NYSE:BKH) PT Raised to $67.00

Black Hills (NYSE:BKH) had its target price lifted by Mizuho from $60.00 to $67.00 in a report issued on Wednesday morning, The Fly reports. The brokerage currently has a neutral rating on the utilities provider’s stock.

BKH has been the topic of a number of other reports. Sidoti boosted their price objective on Black Hills from $78.00 to $80.00 and gave the company a buy rating in a research note on Wednesday, August 25th. Zacks Investment Research lowered Black Hills from a buy rating to a hold rating in a research note on Tuesday, September 21st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Buy and an average price target of $74.00.

Shares of NYSE BKH opened at $62.86 on Wednesday. Black Hills has a one year low of $52.33 and a one year high of $72.78. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.46 and a quick ratio of 0.37. The business’s fifty day moving average price is $69.03 and its 200-day moving average price is $67.99. The stock has a market capitalization of $3.99 billion, a PE ratio of 16.76, a P/E/G ratio of 3.41 and a beta of 0.36.

Black Hills (NYSE:BKH) last released its quarterly earnings data on Monday, August 2nd. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. Black Hills had a return on equity of 8.73% and a net margin of 12.78%. The company had revenue of $372.60 million for the quarter. As a group, equities analysts expect that Black Hills will post 3.88 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 1st. Shareholders of record on Wednesday, August 18th were paid a $0.565 dividend. The ex-dividend date of this dividend was Tuesday, August 17th. This represents a $2.26 dividend on an annualized basis and a yield of 3.60%. Black Hills’s dividend payout ratio is currently 60.59%.

In related news, SVP Stuart A. Wevik sold 2,000 shares of the stock in a transaction dated Friday, July 16th. The stock was sold at an average price of $68.54, for a total transaction of $137,080.00. Following the completion of the sale, the senior vice president now directly owns 24,759 shares in the company, valued at approximately $1,696,981.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Stuart A. Wevik sold 1,000 shares of the stock in a transaction dated Wednesday, July 14th. The shares were sold at an average price of $67.00, for a total value of $67,000.00. The disclosure for this sale can be found here. Insiders sold a total of 4,000 shares of company stock worth $274,080 over the last 90 days. Corporate insiders own 0.78% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Ameritas Investment Partners Inc. lifted its holdings in Black Hills by 1.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 35,070 shares of the utilities provider’s stock worth $2,301,000 after buying an additional 450 shares during the period. Nuveen Asset Management LLC lifted its holdings in Black Hills by 7.4% in the 1st quarter. Nuveen Asset Management LLC now owns 951,003 shares of the utilities provider’s stock worth $63,498,000 after buying an additional 65,186 shares during the period. Advisors Asset Management Inc. lifted its holdings in Black Hills by 2.6% in the 2nd quarter. Advisors Asset Management Inc. now owns 10,981 shares of the utilities provider’s stock worth $721,000 after buying an additional 276 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Black Hills by 4.5% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 988,051 shares of the utilities provider’s stock worth $65,972,000 after buying an additional 42,389 shares during the period. Finally, NFJ Investment Group LLC purchased a new stake in Black Hills in the 1st quarter worth approximately $7,629,000. Institutional investors own 87.12% of the company’s stock.

About Black Hills

Black Hills Corp. is a diversified energy company. It operates through the following segments: Electric Utilities, Gas Utilities, Power Generation, Mining, and Corporate and Other. The Electric Utilities segment generates, transmits, and distributes electricity in South Dakota, Wyoming, Colorado, and Montana.

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