Black Hills (NYSE:BKH) Upgraded by Siebert Williams Shank to Buy Rating

Key Points

• Siebert Williams Shank upgraded Black Hills (NYSE:BKH) from a "hold" to a "buy" and raised its price target to $82 (from $79), implying about a 15.1% upside from the current price.
• Black Hills beat quarterly expectations with $1.41 EPS vs. $1.37 consensus and revenue up 6.4% year-over-year, and it set FY2026 guidance of 4.25–4.45 EPS (analysts forecast ~4.12).
• The stock has a consensus rating of "Moderate Buy" (four Buys, one Hold), a consensus price target of $77.75, and high institutional ownership at ~86.7%.

Black Hills (NYSE:BKH - Get Free Report) was upgraded by equities researchers at Siebert Williams Shank from a "hold" rating to a "buy" rating in a research note issued on Thursday, MarketBeat Ratings reports. The firm currently has a $82.00 price objective on the utilities provider's stock, up from their previous price objective of $79.00. Siebert Williams Shank's price objective indicates a potential upside of 15.11% from the stock's current price.

A number of other analysts have also recently issued reports on the company. Weiss Ratings reissued a "buy (b-)" rating on shares of Black Hills in a research report on Monday, December 29th. Wall Street Zen raised Black Hills from a "sell" rating to a "hold" rating in a research note on Saturday, March 7th. Finally, BMO Capital Markets lifted their price target on Black Hills from $82.00 to $84.00 and gave the company an "outperform" rating in a report on Monday, February 9th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $77.75.

Black Hills Price Performance

NYSE BKH traded up $1.10 on Thursday, reaching $71.23. 270,502 shares of the stock traded hands, compared to its average volume of 993,268. The company has a quick ratio of 1.11, a current ratio of 1.35 and a debt-to-equity ratio of 1.23. The company has a market cap of $5.38 billion, a price-to-earnings ratio of 17.90, a P/E/G ratio of 2.81 and a beta of 0.75. The firm's fifty day simple moving average is $72.60 and its 200 day simple moving average is $67.79. Black Hills has a 12 month low of $54.92 and a 12 month high of $75.87.

Black Hills (NYSE:BKH - Get Free Report) last released its earnings results on Wednesday, February 4th. The utilities provider reported $1.41 EPS for the quarter, beating the consensus estimate of $1.37 by $0.04. Black Hills had a net margin of 12.62% and a return on equity of 7.95%. The company's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.37 earnings per share. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. As a group, research analysts predict that Black Hills will post 4.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Black Hills

Hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Black Hills by 7.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,798 shares of the utilities provider's stock valued at $2,596,000 after acquiring an additional 2,906 shares during the period. NewEdge Advisors LLC grew its holdings in shares of Black Hills by 83.2% during the 1st quarter. NewEdge Advisors LLC now owns 3,345 shares of the utilities provider's stock worth $203,000 after purchasing an additional 1,519 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Black Hills by 37.8% during the 1st quarter. Jones Financial Companies Lllp now owns 3,040 shares of the utilities provider's stock worth $184,000 after purchasing an additional 834 shares in the last quarter. United Services Automobile Association bought a new stake in shares of Black Hills during the first quarter valued at approximately $255,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Black Hills by 5.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 134,673 shares of the utilities provider's stock valued at $8,168,000 after purchasing an additional 7,332 shares during the period. 86.71% of the stock is currently owned by institutional investors.

About Black Hills

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.

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