Black Hills (BKH) Reaches New 12-Month Low at $54.77

Shares of Black Hills Corp (NYSE:BKH) reached a new 52-week low during trading on Tuesday . The stock traded as low as $54.77 and last traded at $54.50, with a volume of 1005939 shares changing hands. The stock had previously closed at $57.85.

Several research firms recently commented on BKH. Williams Capital lowered shares of Black Hills from a “buy” rating to a “hold” rating and dropped their price target for the company from $75.00 to $70.00 in a research report on Friday, October 6th. Credit Suisse Group raised their price target on shares of Black Hills from $75.00 to $77.00 and gave the company an “outperform” rating in a research report on Monday, October 2nd. Zacks Investment Research upgraded shares of Black Hills from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. JPMorgan Chase & Co. raised their price target on shares of Black Hills from $76.00 to $77.00 and gave the company an “overweight” rating in a research report on Thursday, October 12th. Finally, Bank of America began coverage on shares of Black Hills in a research report on Tuesday, October 24th. They set an “underperform” rating and a $66.00 price target on the stock. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Black Hills presently has an average rating of “Buy” and a consensus price target of $67.13.

The company has a market cap of $2,950.00, a PE ratio of 20.96, a PEG ratio of 3.41 and a beta of 0.73. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.47 and a current ratio of 0.69.

Black Hills (NYSE:BKH) last announced its earnings results on Thursday, November 2nd. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.05). Black Hills had a net margin of 8.47% and a return on equity of 10.47%. The company had revenue of $342.10 million during the quarter, compared to analyst estimates of $369.84 million. During the same quarter last year, the business earned $0.48 EPS. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. research analysts expect that Black Hills Corp will post 3.34 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Coldstream Capital Management Inc. acquired a new stake in shares of Black Hills in the third quarter valued at about $700,000. Neuberger Berman Group LLC lifted its stake in shares of Black Hills by 0.4% in the third quarter. Neuberger Berman Group LLC now owns 385,192 shares of the utilities provider’s stock worth $26,528,000 after buying an additional 1,680 shares in the last quarter. California Public Employees Retirement System lifted its stake in shares of Black Hills by 11.0% in the third quarter. California Public Employees Retirement System now owns 98,328 shares of the utilities provider’s stock worth $6,772,000 after buying an additional 9,728 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Black Hills by 4.4% in the third quarter. Janus Henderson Group PLC now owns 958,976 shares of the utilities provider’s stock worth $66,045,000 after buying an additional 40,152 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of Black Hills in the third quarter worth about $282,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

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About Black Hills

Black Hills Corporation is a holding company. The Company is an integrated energy company, which is focused primarily on regulated utilities. The Company operates through segments, including Electric Utilities, Gas Utilities, Power Generation, Mining, Oil and Gas, and Corporate. As of December 31, 2016, the Electric Utilities segment generated, transmitted and distributed electricity to approximately 208,500 customers in South Dakota, Wyoming, Colorado and Montana.

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