Shares of Black Hills Co. (NYSE:BKH) have received a consensus recommendation of “Buy” from the eight analysts that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $73.00.
Several research firms recently commented on BKH. Sidoti raised their target price on Black Hills from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, August 25th. Zacks Investment Research lowered Black Hills from a “buy” rating to a “hold” rating in a report on Friday, September 3rd.
Shares of BKH stock traded down $1.08 during mid-day trading on Thursday, reaching $66.61. The stock had a trading volume of 374,544 shares, compared to its average volume of 340,115. The business’s fifty day moving average is $69.40 and its 200-day moving average is $67.83. The company has a current ratio of 0.46, a quick ratio of 0.37 and a debt-to-equity ratio of 1.28. The firm has a market cap of $4.23 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 3.41 and a beta of 0.36. Black Hills has a 1-year low of $51.97 and a 1-year high of $72.78.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 1st. Shareholders of record on Wednesday, August 18th were given a dividend of $0.565 per share. The ex-dividend date was Tuesday, August 17th. This represents a $2.26 dividend on an annualized basis and a yield of 3.39%. Black Hills’s dividend payout ratio is currently 60.59%.
In other news, SVP Stuart A. Wevik sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 14th. The stock was sold at an average price of $67.00, for a total value of $67,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Stuart A. Wevik sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, July 16th. The shares were sold at an average price of $68.54, for a total value of $137,080.00. Following the completion of the transaction, the senior vice president now owns 24,759 shares in the company, valued at approximately $1,696,981.86. The disclosure for this sale can be found here. Insiders have sold 4,000 shares of company stock worth $274,080 in the last quarter. 0.78% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the stock. Morgan Stanley lifted its position in Black Hills by 124.1% during the second quarter. Morgan Stanley now owns 256,204 shares of the utilities provider’s stock worth $16,815,000 after buying an additional 141,881 shares in the last quarter. WealthPLAN Partners LLC increased its stake in Black Hills by 10.4% during the second quarter. WealthPLAN Partners LLC now owns 189,571 shares of the utilities provider’s stock worth $13,534,000 after acquiring an additional 17,906 shares during the last quarter. Invesco Ltd. increased its stake in Black Hills by 211.4% during the second quarter. Invesco Ltd. now owns 473,312 shares of the utilities provider’s stock worth $31,063,000 after acquiring an additional 321,340 shares during the last quarter. Mairs & Power Inc. increased its stake in Black Hills by 0.7% during the second quarter. Mairs & Power Inc. now owns 140,359 shares of the utilities provider’s stock worth $9,212,000 after acquiring an additional 1,027 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY increased its stake in Black Hills by 98,364.3% during the second quarter. Metropolitan Life Insurance Co NY now owns 27,570 shares of the utilities provider’s stock worth $1,809,000 after acquiring an additional 27,542 shares during the last quarter. Hedge funds and other institutional investors own 87.12% of the company’s stock.
Black Hills Company Profile
Black Hills Corp. is a diversified energy company. It operates through the following segments: Electric Utilities, Gas Utilities, Power Generation, Mining, and Corporate and Other. The Electric Utilities segment generates, transmits, and distributes electricity in South Dakota, Wyoming, Colorado, and Montana.
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