Black Hills (NYSE:BKH) Price Target Increased to $61.00 by Analysts at Wells Fargo & Company

Black Hills (NYSE:BKH - Get Free Report) had its price target increased by investment analysts at Wells Fargo & Company from $56.00 to $61.00 in a research report issued on Friday, Benzinga reports. The firm presently has an "equal weight" rating on the utilities provider's stock. Wells Fargo & Company's target price indicates a potential upside of 6.91% from the company's current price.

A number of other equities research analysts have also recently commented on BKH. Royal Bank of Canada reduced their price objective on Black Hills from $61.00 to $57.00 and set a "sector perform" rating for the company in a research note on Friday, February 9th. Scotiabank reduced their price objective on Black Hills from $58.00 to $54.00 and set a "sector perform" rating for the company in a research note on Monday, April 22nd. Finally, StockNews.com raised Black Hills from a "sell" rating to a "hold" rating in a research note on Thursday. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $54.80.

Black Hills Trading Down 0.9 %

Black Hills stock traded down $0.52 during trading hours on Friday, hitting $57.06. The stock had a trading volume of 523,809 shares, compared to its average volume of 453,833. Black Hills has a one year low of $46.43 and a one year high of $66.43. The company has a quick ratio of 0.56, a current ratio of 0.70 and a debt-to-equity ratio of 1.15. The stock has a market cap of $3.90 billion, a price-to-earnings ratio of 14.56 and a beta of 0.64. The business's 50 day simple moving average is $53.74 and its 200-day simple moving average is $52.66.

Black Hills (NYSE:BKH - Get Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The utilities provider reported $1.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.70 by $0.17. Black Hills had a return on equity of 8.09% and a net margin of 11.25%. The company had revenue of $726.40 million during the quarter, compared to the consensus estimate of $683.00 million. During the same period last year, the company earned $1.73 earnings per share. The firm's revenue was down 21.1% compared to the same quarter last year. On average, equities analysts predict that Black Hills will post 3.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Black Hills by 0.7% during the first quarter. Vanguard Group Inc. now owns 8,203,786 shares of the utilities provider's stock worth $447,927,000 after acquiring an additional 60,219 shares during the period. Capital Research Global Investors lifted its holdings in Black Hills by 17.1% during the fourth quarter. Capital Research Global Investors now owns 3,251,722 shares of the utilities provider's stock worth $175,430,000 after acquiring an additional 475,768 shares during the period. Fuller & Thaler Asset Management Inc. lifted its holdings in Black Hills by 16.3% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,344,162 shares of the utilities provider's stock worth $68,001,000 after acquiring an additional 188,266 shares during the period. Northern Trust Corp lifted its holdings in Black Hills by 0.4% during the third quarter. Northern Trust Corp now owns 957,856 shares of the utilities provider's stock worth $48,458,000 after acquiring an additional 3,925 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Black Hills by 0.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 904,220 shares of the utilities provider's stock worth $48,783,000 after acquiring an additional 3,949 shares during the period. 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.