Black Hills (BKH) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Black Hills (NYSE:BKH) from a buy rating to a hold rating in a report issued on Tuesday.

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 equities analysts have also weighed in on BKH. Credit Suisse Group raised Black Hills from a neutral rating to an outperform rating and boosted their price objective for the stock from $62.00 to $65.00 in a research note on Wednesday, October 17th. ValuEngine raised Black Hills from a hold rating to a buy rating in a research note on Tuesday, November 20th. Scotiabank lowered Black Hills from a sector perform rating to a sell rating in a research note on Wednesday, December 12th. Williams Capital lowered Black Hills from a buy rating to a hold rating and set a $64.00 price objective on the stock. in a research note on Wednesday, February 6th. Finally, Bank of America raised Black Hills from an underperform rating to a neutral rating and set a $69.00 price objective on the stock in a research note on Monday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $64.86.

Shares of BKH opened at $70.42 on Tuesday. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.53 and a quick ratio of 0.36. Black Hills has a one year low of $50.49 and a one year high of $70.70. The company has a market cap of $4.16 billion, a P/E ratio of 19.89, a PEG ratio of 4.35 and a beta of 0.45.

Black Hills (NYSE:BKH) last released its quarterly earnings data on Thursday, February 7th. The utilities provider reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.13. The company had revenue of $501.20 million for the quarter, compared to analyst estimates of $466.97 million. Black Hills had a return on equity of 10.21% and a net margin of 14.73%. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 earnings per share. As a group, equities analysts predict that Black Hills will post 3.43 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 15th will be paid a $0.505 dividend. This represents a $2.02 annualized dividend and a dividend yield of 2.87%. The ex-dividend date is Thursday, February 14th. Black Hills’s dividend payout ratio (DPR) is presently 57.06%.

Several institutional investors have recently made changes to their positions in the company. Bessemer Group Inc. lifted its stake in shares of Black Hills by 876.9% in the 4th quarter. Bessemer Group Inc. now owns 50,800 shares of the utilities provider’s stock valued at $3,189,000 after purchasing an additional 45,600 shares during the last quarter. Great West Life Assurance Co. Can lifted its stake in shares of Black Hills by 238.1% in the 4th quarter. Great West Life Assurance Co. Can now owns 112,615 shares of the utilities provider’s stock valued at $6,941,000 after purchasing an additional 79,304 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Black Hills by 13.1% in the 4th quarter. Northern Trust Corp now owns 1,168,476 shares of the utilities provider’s stock valued at $73,357,000 after purchasing an additional 135,794 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Black Hills in the 4th quarter valued at $320,000. Finally, Citigroup Inc. lifted its stake in shares of Black Hills by 335.9% in the 4th quarter. Citigroup Inc. now owns 7,249 shares of the utilities provider’s stock valued at $456,000 after purchasing an additional 5,586 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

About Black Hills

Black Hills Corporation, through its subsidiaries, operates as a vertically-integrated utility company in the United States. The company's Electric Utilities segment generates, transmits, and distributes electricity to approximately 210,000 electric customers in South Dakota, Wyoming, Colorado, and Montana.

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