JPMorgan Chase & Co. lowered shares of Black Hills (NYSE:BKH) from an overweight rating to a neutral rating in a research note published on Wednesday morning, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has $56.00 price objective on the utilities provider’s stock.
BKH has been the subject of several other reports. Credit Suisse Group downgraded Black Hills from an outperform rating to a neutral rating and set a $66.00 price target for the company. in a report on Tuesday, January 9th. Bank of America initiated coverage on Black Hills in a report on Tuesday, October 24th. They set an underperform rating and a $66.00 price target for the company. Royal Bank of Canada reduced their price target on Black Hills from $72.00 to $64.00 and set an outperform rating for the company in a report on Monday, November 6th. Wells Fargo & Co initiated coverage on Black Hills in a report on Friday, October 27th. They set a market perform rating and a $58.00 price target for the company. Finally, Williams Capital upgraded Black Hills from a hold rating to a buy rating and reduced their price target for the company from $70.00 to $62.00 in a report on Wednesday, January 10th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $64.50.
Black Hills (BKH) opened at $52.04 on Wednesday. The company has a current ratio of 0.69, a quick ratio of 0.47 and a debt-to-equity ratio of 1.73. The company has a market capitalization of $2,712.74, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 3.66 and a beta of 0.55. Black Hills has a 52-week low of $50.71 and a 52-week high of $72.02.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be issued a $0.475 dividend. The ex-dividend date is Wednesday, February 14th. This represents a $1.90 annualized dividend and a yield of 3.65%. Black Hills’s payout ratio is 56.89%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BKH. Janus Henderson Group PLC bought a new stake in Black Hills in the 2nd quarter worth about $61,993,000. Bank of New York Mellon Corp increased its holdings in Black Hills by 20.1% in the 4th quarter. Bank of New York Mellon Corp now owns 935,434 shares of the utilities provider’s stock worth $56,229,000 after buying an additional 156,437 shares in the last quarter. Strs Ohio increased its holdings in Black Hills by 48.2% in the 4th quarter. Strs Ohio now owns 452,400 shares of the utilities provider’s stock worth $27,193,000 after buying an additional 147,100 shares in the last quarter. Hennessy Advisors Inc. increased its holdings in Black Hills by 165.4% in the 3rd quarter. Hennessy Advisors Inc. now owns 215,947 shares of the utilities provider’s stock worth $14,872,000 after buying an additional 134,588 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in Black Hills by 1.4% in the 4th quarter. BlackRock Inc. now owns 8,274,270 shares of the utilities provider’s stock worth $497,367,000 after buying an additional 110,773 shares in the last quarter. Institutional investors own 93.81% 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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