Black Hills Co. (NYSE:BKH) Receives $58.00 Consensus Target Price from Analysts

Black Hills Co. (NYSE:BKH) has earned a consensus rating of “Reduce” from the five research firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $58.00.

Several analysts have recently commented on the company. Wells Fargo & Company increased their target price on Black Hills from $61.00 to $64.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Scotiabank increased their price objective on shares of Black Hills from $54.00 to $63.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Pathway Financial Advisers LLC acquired a new position in Black Hills in the first quarter valued at approximately $31,000. Blue Trust Inc. boosted its position in shares of Black Hills by 84.9% in the 3rd quarter. Blue Trust Inc. now owns 577 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 265 shares during the last quarter. Sunbelt Securities Inc. acquired a new stake in shares of Black Hills during the first quarter worth $33,000. Hexagon Capital Partners LLC increased its holdings in Black Hills by 77.2% in the first quarter. Hexagon Capital Partners LLC now owns 732 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 319 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in Black Hills in the third quarter valued at about $45,000. Institutional investors own 86.71% of the company’s stock.

Black Hills Trading Down 2.1 %

Shares of BKH stock opened at $57.92 on Friday. The company has a market capitalization of $4.04 billion, a P/E ratio of 14.34, a P/E/G ratio of 4.30 and a beta of 0.69. Black Hills has a 12-month low of $48.27 and a 12-month high of $62.20. The company has a quick ratio of 0.94, a current ratio of 1.06 and a debt-to-equity ratio of 1.23. The firm has a 50-day moving average price of $60.12 and a 200 day moving average price of $57.24.

Black Hills (NYSE:BKH) last announced its earnings results on Wednesday, July 31st. The utilities provider reported $0.33 EPS for the quarter, topping the consensus estimate of $0.29 by $0.04. Black Hills had a return on equity of 8.21% and a net margin of 12.96%. The business had revenue of $402.60 million for the quarter, compared to the consensus estimate of $498.00 million. During the same period in the previous year, the business earned $0.35 EPS. Black Hills’s revenue was down 2.1% compared to the same quarter last year. Research analysts forecast that Black Hills will post 3.91 earnings per share for the current fiscal year.

Black Hills Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Monday, November 18th will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.60 annualized dividend and a yield of 4.49%. Black Hills’s dividend payout ratio is currently 64.36%.

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.