Black Hills (NYSE:BKH) Coverage Initiated by Analysts at BMO Capital Markets

Research analysts at BMO Capital Markets assumed coverage on shares of Black Hills (NYSE:BKH - Get Free Report) in a report released on Tuesday, Marketbeat.com reports. The brokerage set an "outperform" rating and a $68.00 price target on the utilities provider's stock. BMO Capital Markets' price target suggests a potential upside of 16.23% from the company's previous close.

Separately, Scotiabank dropped their price objective on shares of Black Hills from $67.00 to $66.00 and set a "sector perform" rating on the stock in a research note on Friday, February 7th.

Black Hills Stock Performance

NYSE BKH traded down $0.17 on Tuesday, reaching $58.50. The stock had a trading volume of 437,993 shares, compared to its average volume of 451,269. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.77 and a current ratio of 0.97. The stock has a market cap of $4.24 billion, a P/E ratio of 14.92, a price-to-earnings-growth ratio of 2.75 and a beta of 0.74. The business's 50-day moving average price is $59.67 and its 200 day moving average price is $59.85. Black Hills has a 12-month low of $51.66 and a 12-month high of $65.59.

Black Hills (NYSE:BKH - Get Free Report) last announced its earnings results on Wednesday, May 7th. The utilities provider reported $1.87 earnings per share for the quarter, missing the consensus estimate of $1.92 by ($0.05). Black Hills had a return on equity of 7.82% and a net margin of 12.84%. The business had revenue of $805.20 million for the quarter, compared to analyst estimates of $729.73 million. During the same quarter last year, the company posted $1.87 EPS. Black Hills's quarterly revenue was up 10.8% on a year-over-year basis. As a group, equities analysts expect that Black Hills will post 4.12 earnings per share for the current year.

Institutional Trading of Black Hills

Several hedge funds have recently modified their holdings of the business. Nuveen LLC acquired a new position in Black Hills during the first quarter worth $43,690,000. First Trust Advisors LP boosted its position in shares of Black Hills by 309.5% during the 4th quarter. First Trust Advisors LP now owns 953,431 shares of the utilities provider's stock worth $55,795,000 after purchasing an additional 720,628 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Black Hills by 203.6% during the 4th quarter. Bank of America Corp DE now owns 507,986 shares of the utilities provider's stock worth $29,727,000 after purchasing an additional 340,686 shares during the period. Capital Research Global Investors increased its holdings in shares of Black Hills by 21.5% in the 4th quarter. Capital Research Global Investors now owns 1,845,088 shares of the utilities provider's stock valued at $107,975,000 after purchasing an additional 326,959 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Black Hills by 113.6% in the 4th quarter. Millennium Management LLC now owns 463,459 shares of the utilities provider's stock valued at $27,122,000 after purchasing an additional 246,500 shares in the last quarter. 86.71% 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. The company operates in two segments: Electric Utilities and Gas Utilities. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 222,000 electric utility customers in Colorado, Montana, South Dakota, and Wyoming; and owns and operates 1,394 megawatts of generation capacity and 9,106 miles of electric transmission and distribution lines.