Black Hills (NYSE:BKH) Rating Increased to Buy at Zacks Investment Research

Black Hills (NYSE:BKH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday, Zacks.com reports. The firm currently has a $73.00 price objective on the utilities provider’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 13.99% from the stock’s previous close.

According to Zacks, “Black Hills Corporation is an energy company that generates wholesale electricity and produces natural gas, crude oil and coal. They serve natural gas and electric utility customers in Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming. “

Separately, Sidoti upped their target price on shares of Black Hills from $78.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, August 25th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Black Hills currently has a consensus rating of “Buy” and a consensus target price of $73.00.

Shares of Black Hills stock opened at $64.04 on Monday. The stock has a market cap of $4.07 billion, a price-to-earnings ratio of 17.08, a PEG ratio of 3.41 and a beta of 0.36. The firm’s 50-day moving average is $69.29 and its 200 day moving average is $68.03. Black Hills has a 1 year low of $51.97 and a 1 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.

Black Hills (NYSE:BKH) last posted its earnings results on Monday, August 2nd. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.02. The business had revenue of $372.60 million for the quarter. Black Hills had a net margin of 12.78% and a return on equity of 8.73%. On average, equities analysts expect that Black Hills will post 3.88 EPS for the current fiscal year.

In other Black Hills news, SVP Stuart A. Wevik sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, July 16th. The stock was sold at an average price of $68.54, for a total value of $137,080.00. Following the completion of the transaction, the senior vice president now directly owns 24,759 shares in the company, valued at approximately $1,696,981.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Stuart A. Wevik sold 1,000 shares of the stock in a transaction that occurred on Wednesday, August 4th. The shares were sold at an average price of $70.00, for a total value of $70,000.00. Following the transaction, the senior vice president now owns 22,759 shares of the company’s stock, valued at $1,593,130. The disclosure for this sale can be found here. Insiders sold a total of 4,000 shares of company stock valued at $274,080 over the last three months. 0.78% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. ARGI Investment Services LLC boosted its position in shares of Black Hills by 1.2% during the 2nd quarter. ARGI Investment Services LLC now owns 11,741 shares of the utilities provider’s stock valued at $771,000 after acquiring an additional 144 shares during the last quarter. The PNC Financial Services Group Inc. lifted its position in Black Hills by 1.5% in the first quarter. The PNC Financial Services Group Inc. now owns 18,058 shares of the utilities provider’s stock worth $1,206,000 after buying an additional 268 shares during the last quarter. Advisors Asset Management Inc. lifted its position in Black Hills by 2.6% in the second 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 last quarter. Federated Hermes Inc. lifted its position in Black Hills by 2.3% in the first quarter. Federated Hermes Inc. now owns 12,569 shares of the utilities provider’s stock worth $839,000 after buying an additional 280 shares during the last quarter. Finally, FMR LLC lifted its position in Black Hills by 18.3% in the first quarter. FMR LLC now owns 2,413 shares of the utilities provider’s stock worth $179,000 after buying an additional 373 shares during the last quarter. Hedge funds and other 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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