Black Hills (NYSE:BKH) Price Target Increased to $67.00 by Analysts at Mizuho

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

Several other research firms have also recently weighed in on BKH. Sidoti increased their price objective on Black Hills from $78.00 to $80.00 and gave the company a buy rating in a research report on Wednesday, August 25th. Zacks Investment Research cut Black Hills from a buy rating to a hold rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Black Hills currently has a consensus rating of Buy and a consensus price target of $74.00.

BKH opened at $62.86 on Wednesday. Black Hills has a 1-year low of $52.33 and a 1-year high of $72.78. The company has a current ratio of 0.46, a quick ratio of 0.37 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 16.76, a P/E/G ratio of 3.41 and a beta of 0.36. The business has a 50 day moving average of $69.03 and a 200-day moving average of $67.96.

Black Hills (NYSE:BKH) last posted its quarterly earnings data on Monday, August 2nd. The utilities provider reported $0.40 earnings per share for the quarter, beating the consensus estimate 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 during the quarter. Equities analysts predict that Black Hills will post 3.88 EPS for the current year.

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

In other Black Hills news, SVP Stuart A. Wevik sold 1,000 shares of the stock in a transaction on Wednesday, July 14th. The stock was sold at an average price of $67.00, for a total transaction of $67,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Stuart A. Wevik sold 2,000 shares of the stock in a transaction 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 transaction, the senior vice president now owns 24,759 shares of the company’s stock, valued at $1,696,981.86. The disclosure for this sale can be found here. Insiders have sold 4,000 shares of company stock valued at $274,080 over the last quarter. Corporate insiders own 0.78% of the company’s stock.

Several large investors have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Black Hills by 5.4% in the first quarter. BlackRock Inc. now owns 9,042,376 shares of the utilities provider’s stock valued at $603,759,000 after buying an additional 460,433 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Black Hills by 1.5% in the second quarter. Vanguard Group Inc. now owns 6,389,489 shares of the utilities provider’s stock valued at $419,342,000 after buying an additional 96,288 shares in the last quarter. State Street Corp increased its stake in shares of Black Hills by 1.2% in the second quarter. State Street Corp now owns 6,002,636 shares of the utilities provider’s stock valued at $393,953,000 after buying an additional 72,546 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Black Hills by 22.3% in the second quarter. Franklin Resources Inc. now owns 2,429,186 shares of the utilities provider’s stock valued at $159,428,000 after buying an additional 443,288 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Black Hills by 2.5% in the first quarter. Janus Henderson Group PLC now owns 1,215,061 shares of the utilities provider’s stock valued at $81,130,000 after buying an additional 29,476 shares in the last quarter. Institutional investors own 87.12% of the company’s stock.

Black Hills Company Profile

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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