BMO Capital Markets Lowers Black Hills (NYSE:BKH) Price Target to $85.00

Black Hills (NYSE:BKH) had its target price lowered by research analysts at BMO Capital Markets from $86.00 to $85.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the utilities provider’s stock. BMO Capital Markets’ price target suggests a potential upside of 13.24% from the stock’s current price.

Several other analysts also recently weighed in on BKH. LADENBURG THALM/SH SH initiated coverage on shares of Black Hills in a report on Wednesday, April 1st. They issued a “buy” rating and a $77.00 target price for the company. Oppenheimer set a $78.00 price target on Black Hills in a research note on Thursday, June 11th. Bank of America raised their price target on Black Hills from $78.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Wall Street Zen cut Black Hills from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Finally, Weiss Ratings downgraded Black Hills from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 9th. Six analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $81.67.

Black Hills Trading Up 1.0%

Shares of NYSE BKH traded up $0.76 during midday trading on Wednesday, reaching $75.06. 186,554 shares of the stock were exchanged, compared to its average volume of 985,472. The company has a 50 day simple moving average of $73.49 and a 200 day simple moving average of $72.91. The stock has a market capitalization of $5.71 billion, a P/E ratio of 19.53, a PEG ratio of 2.95 and a beta of 0.71. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.53 and a current ratio of 0.65. Black Hills has a twelve month low of $55.79 and a twelve month high of $78.69.

Black Hills (NYSE:BKH) last released its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.79 EPS for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.09). The business had revenue of $780.70 million during the quarter, compared to analyst estimates of $769.19 million. Black Hills had a net margin of 12.61% and a return on equity of 7.77%. The company’s revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.87 earnings per share. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. As a group, equities analysts expect that Black Hills will post 4.34 earnings per share for the current year.

Insider Buying and Selling

In other Black Hills news, Director Robert P. Otto sold 4,109 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $74.22, for a total value of $304,969.98. Following the completion of the transaction, the director owned 10,886 shares of the company’s stock, valued at $807,958.92. This trade represents a 27.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.56% of the stock is owned by corporate insiders.

Institutional Trading of Black Hills

Several hedge funds have recently modified their holdings of the stock. Advisory Services Network LLC acquired a new position in Black Hills during the 3rd quarter worth $45,000. First Horizon Corp boosted its stake in shares of Black Hills by 192.8% in the 4th quarter. First Horizon Corp now owns 773 shares of the utilities provider’s stock valued at $54,000 after buying an additional 509 shares during the period. Geneos Wealth Management Inc. grew its position in shares of Black Hills by 44.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,037 shares of the utilities provider’s stock worth $58,000 after buying an additional 317 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Black Hills by 47.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 850 shares of the utilities provider’s stock valued at $59,000 after acquiring an additional 274 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in Black Hills in the first quarter valued at approximately $67,000. 86.71% of the stock is currently owned by institutional investors and hedge funds.

Black Hills Company Profile

Black Hills Corporation is a diversified energy company based in Rapid City, South Dakota, that provides electricity and natural gas distribution services to residential, commercial and industrial customers. Through its regulated utility subsidiaries—Black Hills Power, Cheyenne Light & Power, and Black Hills Energy—the company delivers reliable energy across Colorado, Kansas, Montana, Nebraska, South Dakota and Wyoming.

In addition to its distribution operations, Black Hills owns and operates a generation portfolio that includes natural gas–fired plants, coal-fired units, hydroelectric facilities and wind projects.