Black Hills (NYSE:BKH) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Black Hills (NYSE:BKH) from a buy rating to a hold rating in a research report released on Monday morning, reports.

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. “

Other equities analysts have also issued reports about the stock. Williams Capital reiterated a hold rating on shares of Southwest Gas in a report on Monday, March 18th. Scotiabank lowered shares of WEC Energy Group from an outperform rating to a sector perform rating and increased their target price for the stock from $76.00 to $78.00 in a report on Wednesday, May 8th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Black Hills currently has an average rating of Hold and an average target price of $68.71.

Shares of NYSE BKH traded up $0.07 during mid-day trading on Monday, reaching $80.28. The company had a trading volume of 16,384 shares, compared to its average volume of 370,100. The stock has a market cap of $4.82 billion, a PE ratio of 22.61, a P/E/G ratio of 4.78 and a beta of 0.34. The stock has a 50 day simple moving average of $78.20. The company has a current ratio of 0.82, a quick ratio of 0.67 and a debt-to-equity ratio of 1.24. Black Hills has a 52-week low of $56.42 and a 52-week high of $82.01.

Black Hills (NYSE:BKH) last issued its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.15. The company had revenue of $597.80 million during the quarter, compared to analysts’ expectations of $581.85 million. Black Hills had a return on equity of 9.97% and a net margin of 12.91%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.63 earnings per share. Research analysts predict that Black Hills will post 3.48 earnings per share for the current fiscal year.

In related news, Chairman David R. Emery sold 7,500 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $76.16, for a total value of $571,200.00. Following the completion of the sale, the chairman now owns 182,806 shares of the company’s stock, valued at $13,922,504.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Brian Iverson sold 6,469 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $77.89, for a total transaction of $503,870.41. Following the completion of the sale, the senior vice president now directly owns 26,108 shares of the company’s stock, valued at approximately $2,033,552.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,969 shares of company stock valued at $2,221,745. Insiders own 1.00% of the company’s stock.

A number of hedge funds have recently bought and sold shares of BKH. Lenox Wealth Management Inc. acquired a new stake in Black Hills in the 1st quarter valued at approximately $30,000. Fort L.P. purchased a new position in shares of Black Hills in the fourth quarter worth about $72,000. Quadrant Capital Group LLC increased its holdings in shares of Black Hills by 107.6% in the first quarter. Quadrant Capital Group LLC now owns 1,721 shares of the utilities provider’s stock worth $123,000 after buying an additional 892 shares during the period. Covenant Multifamily Offices LLC purchased a new position in shares of Black Hills in the first quarter worth about $126,000. Finally, Hanseatic Management Services Inc. purchased a new position in shares of Black Hills in the first quarter worth about $157,000. 87.11% of the stock is owned by institutional investors and hedge funds.

Black Hills Company Profile

Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. It operates through Electric Utilities, Gas Utilities, Power Generation, and Mining segments. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 212,000 electric customers in Colorado, Montana, South Dakota, and Wyoming, as well as provides electrical system construction services to large industrial customers.

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