Black Hills (NYSE:BKH) PT Lowered to $54.00

Black Hills (NYSE:BKH) had its price target cut by equities researchers at Scotiabank from $58.00 to $54.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “sector perform” rating on the utilities provider’s stock. Scotiabank’s price objective points to a potential downside of 0.68% from the company’s previous close.

Several other analysts also recently issued reports on the stock. StockNews.com downgraded shares of Black Hills from a “hold” rating to a “sell” rating in a report on Thursday, March 28th. Royal Bank of Canada reduced their price target on shares of Black Hills from $61.00 to $57.00 and set a “sector perform” rating on the stock in a report on Friday, February 9th. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $55.00.

Black Hills Trading Up 0.1 %

Shares of Black Hills stock opened at $54.37 on Monday. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of 13.87 and a beta of 0.64. Black Hills has a 52-week low of $46.43 and a 52-week high of $66.85. The company’s 50-day simple moving average is $52.79 and its 200-day simple moving average is $52.18. The company has a quick ratio of 0.56, a current ratio of 0.70 and a debt-to-equity ratio of 1.15.

Black Hills (NYSE:BKH) last released its quarterly earnings data on Thursday, February 8th. The utilities provider reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. The firm had revenue of $591.70 million for the quarter, compared to the consensus estimate of $863.67 million. Black Hills had a net margin of 11.25% and a return on equity of 8.09%. During the same quarter in the previous year, the firm earned $1.11 earnings per share. As a group, equities research analysts anticipate that Black Hills will post 3.9 earnings per share for the current year.

Hedge Funds Weigh In On Black Hills

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Black Hills by 3.7% during the third quarter. Vanguard Group Inc. now owns 7,821,296 shares of the utilities provider’s stock valued at $395,679,000 after buying an additional 279,987 shares during the period. Assenagon Asset Management S.A. acquired a new position in Black Hills during the third quarter worth approximately $1,752,000. Diversified Trust Co increased its position in Black Hills by 246.0% during the fourth quarter. Diversified Trust Co now owns 40,501 shares of the utilities provider’s stock worth $2,185,000 after purchasing an additional 28,797 shares during the last quarter. First Eagle Investment Management LLC increased its position in Black Hills by 57.0% during the third quarter. First Eagle Investment Management LLC now owns 159,190 shares of the utilities provider’s stock worth $8,053,000 after purchasing an additional 57,820 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in Black Hills by 33.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 17,215 shares of the utilities provider’s stock worth $929,000 after purchasing an additional 4,345 shares during the last quarter. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Black Hills Company Profile

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.