Black Hills (NYSE:BKH) Price Target Raised to $97.00

Black Hills (NYSE:BKH) had its target price upped by Bank of America from $87.00 to $97.00 in a research report sent to investors on Monday morning, Marketbeat reports. They currently have a buy rating on the utilities provider’s stock.

Several other brokerages also recently issued reports on BKH. Wall Street Zen raised shares of Black Hills from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Oppenheimer set a $78.00 price objective on shares of Black Hills in a research report on Thursday, June 11th. BMO Capital Markets reduced their target price on shares of Black Hills from $86.00 to $85.00 and set an “outperform” rating for the company in a research note on Wednesday, July 22nd. Finally, Weiss Ratings upgraded Black Hills from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 24th. Six research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Black Hills has an average rating of “Buy” and a consensus target price of $83.33.

Black Hills Trading Down 1.7%

NYSE BKH opened at $70.56 on Monday. The firm has a market cap of $5.38 billion, a P/E ratio of 17.82, a P/E/G ratio of 2.84 and a beta of 0.71. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.52 and a quick ratio of 0.41. The stock’s 50-day moving average is $72.89 and its 200-day moving average is $72.93. Black Hills has a one year low of $59.33 and a one year high of $78.69.

Black Hills (NYSE:BKH) last issued its quarterly earnings data on Wednesday, August 5th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.13. The business had revenue of $452.80 million during the quarter, compared to analyst estimates of $490.89 million. Black Hills had a return on equity of 7.98% and a net margin of 13.01%.Black Hills’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.38 EPS. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. Sell-side analysts anticipate that Black Hills will post 4.34 earnings per share for the current fiscal year.

Black Hills Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were paid a dividend of $0.703 per share. This represents a $2.81 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Monday, August 17th. Black Hills’s dividend payout ratio (DPR) is currently 70.96%.

Institutional Trading of Black Hills

A number of institutional investors have recently made changes to their positions in the business. Sequoia Financial Advisors LLC boosted its holdings in Black Hills by 25.4% during the second quarter. Sequoia Financial Advisors LLC now owns 21,332 shares of the utilities provider’s stock worth $1,587,000 after purchasing an additional 4,325 shares during the last quarter. WINTON GROUP Ltd bought a new stake in Black Hills during the 2nd quarter worth about $2,342,000. Engineers Gate Manager LP boosted its stake in shares of Black Hills by 35.7% during the 2nd quarter. Engineers Gate Manager LP now owns 1,442,064 shares of the utilities provider’s stock worth $107,290,000 after buying an additional 379,211 shares during the last quarter. Integrated Wealth Concepts LLC grew its holdings in shares of Black Hills by 13.2% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 4,802 shares of the utilities provider’s stock valued at $357,000 after acquiring an additional 561 shares in the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of Black Hills by 390.5% in the second quarter. NewEdge Advisors LLC now owns 4,302 shares of the utilities provider’s stock valued at $320,000 after acquiring an additional 3,425 shares during the last quarter. Institutional investors own 86.71% of the company’s stock.

Black Hills Company Profile

Black Hills Corporation (NYSE:BKH) is a diversified energy company headquartered in Rapid City, South Dakota. Through its regulated utilities, the company provides electric and natural gas service to residential, commercial, industrial and institutional customers.

Black Hills’ electric operations generate, purchase, transmit and distribute electricity through a portfolio that includes coal, natural gas, wind and other energy resources. Its natural gas utilities transport and distribute natural gas, while also operating related storage and pipeline infrastructure.

The company serves communities across several Midwestern and Western states, including Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming.