Black Hills (NYSE:BKH) Given "Hold (C)" Rating at Weiss Ratings

Key Points

• Black Hills Corporation received a "hold (c)" rating from Weiss Ratings, indicating a cautious outlook on the stock.
• Bank of America upgraded Black Hills from "underperform" to "neutral" and increased its price target from $57.00 to $64.00.
• The company reported a net margin of 12.68% and an 8.9% year-over-year revenue increase during its last quarterly earnings.

Black Hills (NYSE:BKH - Get Free Report)'s stock had its "hold (c)" rating reiterated by investment analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Separately, Bank of America raised shares of Black Hills from an "underperform" rating to a "neutral" rating and lifted their price target for the stock from $57.00 to $64.00 in a research note on Wednesday, August 20th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $66.00.

Black Hills Stock Performance

BKH stock traded up $0.54 on Wednesday, hitting $61.76. The company had a trading volume of 484,083 shares, compared to its average volume of 539,454. Black Hills has a 12-month low of $54.92 and a 12-month high of $65.59. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 1.06. The stock's 50-day simple moving average is $59.79 and its 200 day simple moving average is $58.76. The stock has a market cap of $4.50 billion, a price-to-earnings ratio of 15.56, a P/E/G ratio of 2.80 and a beta of 0.73.

Black Hills (NYSE:BKH - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.38 earnings per share for the quarter, hitting the consensus estimate of $0.38. The business had revenue of $439.00 million for the quarter, compared to the consensus estimate of $412.69 million. Black Hills had a net margin of 12.68% and a return on equity of 7.81%. The company's quarterly revenue was up 8.9% on a year-over-year basis. During the same period last year, the firm earned $0.33 earnings per share. Black Hills has set its FY 2025 guidance at 4.000-4.200 EPS. As a group, equities research analysts expect that Black Hills will post 4.12 earnings per share for the current fiscal year.

Institutional Trading of Black Hills

Several institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. increased its stake in Black Hills by 1.9% in the 1st quarter. Principal Financial Group Inc. now owns 215,402 shares of the utilities provider's stock valued at $13,064,000 after buying an additional 4,077 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in Black Hills by 15.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,918 shares of the utilities provider's stock worth $480,000 after purchasing an additional 1,087 shares in the last quarter. Farther Finance Advisors LLC grew its position in Black Hills by 215.5% in the first quarter. Farther Finance Advisors LLC now owns 1,647 shares of the utilities provider's stock valued at $100,000 after acquiring an additional 1,125 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Black Hills by 59.2% during the 1st quarter. GAMMA Investing LLC now owns 605 shares of the utilities provider's stock valued at $37,000 after buying an additional 225 shares during the last quarter. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Black Hills during the 1st quarter valued at approximately $808,000. Hedge funds and other institutional investors own 86.71% of the company's stock.

About Black Hills

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.

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