Black Hills (NYSE:BKH) Hits New 1-Year High - Time to Buy?

Key Points

• Black Hills Corporation (NYSE:BKH) reached a new **52-week high** of $65.74, closing at $65.49 on heavy trading volume of **985,498 shares**.
• Analyst ratings indicate a consensus of "Hold" for the stock, with a recent **price target increase** from Bank of America to **$64.00**.
• The company reported **quarterly earnings** of $0.38 per share, meeting expectations, and an **8.9% revenue increase** to $439 million compared to the previous year.

Black Hills Corporation (NYSE:BKH - Get Free Report) reached a new 52-week high on Thursday . The stock traded as high as $65.74 and last traded at $65.49, with a volume of 985498 shares trading hands. The stock had previously closed at $65.25.

Analyst Ratings Changes

Several research firms recently commented on BKH. Weiss Ratings restated a "hold (c)" rating on shares of Black Hills in a research report on Wednesday, October 8th. Bank of America raised shares of Black Hills from an "underperform" rating to a "neutral" rating and boosted their target price for the stock from $57.00 to $64.00 in a research note on Wednesday, August 20th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $66.00.

Black Hills Stock Performance

The firm has a market capitalization of $4.77 billion, a P/E ratio of 16.50, a P/E/G ratio of 2.99 and a beta of 0.73. The stock has a fifty day moving average of $60.43 and a 200-day moving average of $58.96. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 1.06.

Black Hills (NYSE:BKH - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.38 earnings per share for the quarter, meeting the consensus estimate of $0.38. The company had revenue of $439.00 million during the quarter, compared to analysts' expectations of $412.69 million. Black Hills had a return on equity of 7.81% and a net margin of 12.68%.Black Hills's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.33 EPS. Black Hills has set its FY 2025 guidance at 4.000-4.200 EPS. On average, research analysts anticipate that Black Hills Corporation will post 4.12 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. IMA Advisory Services Inc. bought a new position in Black Hills during the first quarter worth about $30,000. Clearstead Trust LLC bought a new position in Black Hills during the first quarter worth $30,000. Spire Wealth Management boosted its holdings in shares of Black Hills by 4,115.4% during the 2nd quarter. Spire Wealth Management now owns 548 shares of the utilities provider's stock worth $31,000 after buying an additional 535 shares during the period. TD Waterhouse Canada Inc. bought a new stake in shares of Black Hills during the 2nd quarter worth about $31,000. Finally, GAMMA Investing LLC boosted its holdings 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 worth $37,000 after buying an additional 225 shares during the period. Institutional investors own 86.71% of the company's stock.

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.

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