Black Hills (NYSE:BKH) PT Lowered to $54.00

Black Hills (NYSE:BKH - Get Free Report) had its price target lowered by Scotiabank from $58.00 to $54.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a "sector perform" rating on the utilities provider's stock. Scotiabank's price objective suggests a potential downside of 0.59% from the company's previous close.

A number of other research firms have also recently issued reports on BKH. StockNews.com cut Black Hills from a "hold" rating to a "sell" rating in a report on Thursday, March 28th. Royal Bank of Canada cut their price target on Black Hills from $61.00 to $57.00 and set a "sector perform" rating on the stock in a research note on Friday, February 9th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat.com, Black Hills presently has an average rating of "Hold" and an average target price of $55.00.

Black Hills Stock Up 0.6 %

Shares of Black Hills stock traded up $0.32 on Monday, reaching $54.32. 338,831 shares of the company were exchanged, compared to its average volume of 550,128. Black Hills has a one year low of $46.43 and a one year high of $66.85. The company has a market capitalization of $3.71 billion, a price-to-earnings ratio of 13.96 and a beta of 0.64. The company has a current ratio of 0.70, a quick ratio of 0.56 and a debt-to-equity ratio of 1.15. The company has a 50-day moving average of $52.70 and a 200 day moving average of $52.10.

Black Hills (NYSE:BKH - Get Free Report) last issued its quarterly earnings data on Thursday, February 8th. The utilities provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.06 by $0.11. Black Hills had a return on equity of 8.09% and a net margin of 11.25%. The company had revenue of $591.70 million during the quarter, compared to the consensus estimate of $863.67 million. During the same period last year, the company earned $1.11 earnings per share. On average, equities research analysts forecast that Black Hills will post 3.9 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital Research Global Investors grew its holdings in Black Hills by 17.1% during the 4th quarter. Capital Research Global Investors now owns 3,251,722 shares of the utilities provider's stock valued at $175,430,000 after purchasing an additional 475,768 shares in the last quarter. Vanguard Group Inc. lifted its position in Black Hills by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 8,143,567 shares of the utilities provider's stock valued at $439,345,000 after purchasing an additional 322,271 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Black Hills by 640.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 256,527 shares of the utilities provider's stock worth $13,840,000 after buying an additional 221,898 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Black Hills by 36.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 755,095 shares of the utilities provider's stock worth $40,737,000 after purchasing an additional 203,340 shares during the last quarter. Finally, Hunter Perkins Capital Management LLC grew its stake in shares of Black Hills by 331.1% in the 3rd quarter. Hunter Perkins Capital Management LLC now owns 252,050 shares of the utilities provider's stock worth $12,751,000 after purchasing an additional 193,578 shares during the last quarter. 86.71% of the stock is currently 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.