Zacks Investment Research Upgrades Black Hills (NYSE:BKH) to Buy

Black Hills (NYSE:BKH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, Zacks.com reports. The firm presently has a $71.00 target price on the utilities provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 14.00% from the stock’s current price.

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. “

A number of other research analysts have also commented on BKH. Sidoti raised their price target on Black Hills from $78.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, August 25th. Mizuho lifted their target price on Black Hills from $60.00 to $67.00 and gave the stock a “neutral” rating in a report on Wednesday, September 22nd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Black Hills currently has an average rating of “Buy” and an average price target of $73.71.

BKH stock traded down $0.95 during mid-day trading on Tuesday, reaching $62.28. The company had a trading volume of 259,744 shares, compared to its average volume of 340,375. The company has a quick ratio of 0.37, a current ratio of 0.46 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $3.95 billion, a P/E ratio of 16.61, a P/E/G ratio of 3.41 and a beta of 0.36. Black Hills has a one year low of $52.84 and a one year high of $72.78. The stock’s 50-day simple moving average is $68.97 and its two-hundred day simple moving average is $68.00.

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 analysts’ consensus estimates of $0.38 by $0.02. The company had revenue of $372.60 million for the quarter. Black Hills had a return on equity of 8.73% and a net margin of 12.78%. On average, research analysts forecast that Black Hills will post 3.88 EPS for the current fiscal year.

In other news, SVP Stuart A. Wevik sold 2,000 shares of the business’s stock in a transaction on 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 owns 24,759 shares in the company, valued at $1,696,981.86. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Stuart A. Wevik sold 1,000 shares of the business’s stock in a transaction on Wednesday, July 14th. The stock was 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 have sold a total of 4,000 shares of company stock valued at $274,080 over the last 90 days. Corporate insiders own 0.78% of the company’s stock.

Several institutional investors have recently made changes to their positions in the business. Tortoise Investment Management LLC acquired a new position in shares of Black Hills during the second quarter worth about $39,000. Creative Financial Designs Inc. ADV acquired a new position in shares of Black Hills during the second quarter worth about $40,000. Stonebridge Capital Advisors LLC acquired a new position in shares of Black Hills during the first quarter worth about $80,000. Tompkins Financial Corp boosted its position in shares of Black Hills by 36.4% during the first quarter. Tompkins Financial Corp now owns 1,500 shares of the utilities provider’s stock worth $100,000 after buying an additional 400 shares during the period. Finally, Bbva USA acquired a new position in shares of Black Hills during the second quarter worth about $100,000. 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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