Black Hills (NYSE:BKH) Price Target Cut to $66.00 by Analysts at Scotiabank

Black Hills (NYSE:BKH) had its price target dropped by investment analysts at Scotiabank from $67.00 to $66.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “sector perform” rating on the utilities provider’s stock. Scotiabank’s price objective would indicate a potential upside of 10.98% from the company’s previous close.

Black Hills Price Performance

BKH traded down $0.43 during midday trading on Friday, hitting $59.47. 132,281 shares of the company traded hands, compared to its average volume of 470,461. Black Hills has a 52-week low of $49.50 and a 52-week high of $65.59. The company has a market capitalization of $4.26 billion, a price-to-earnings ratio of 16.01, a PEG ratio of 4.21 and a beta of 0.73. The company has a current ratio of 1.12, a quick ratio of 0.83 and a debt-to-equity ratio of 1.20. The business has a 50 day simple moving average of $59.12 and a two-hundred day simple moving average of $59.65.

Black Hills (NYSE:BKH) last posted its earnings results on Wednesday, February 5th. The utilities provider reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.17. Black Hills had a return on equity of 7.43% and a net margin of 12.00%. On average, equities analysts forecast that Black Hills will post 3.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Black Hills

A number of institutional investors have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its position in shares of Black Hills by 66.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 432 shares of the utilities provider’s stock valued at $25,000 after buying an additional 173 shares during the last quarter. Assetmark Inc. grew its position in shares of Black Hills by 4.1% in the 4th quarter. Assetmark Inc. now owns 6,716 shares of the utilities provider’s stock valued at $393,000 after acquiring an additional 263 shares during the period. Blue Trust Inc. boosted its holdings in Black Hills by 84.9% in the 3rd quarter. Blue Trust Inc. now owns 577 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 265 shares during the period. Inspire Investing LLC grew its holdings in Black Hills by 4.1% during the 3rd quarter. Inspire Investing LLC now owns 6,741 shares of the utilities provider’s stock worth $412,000 after acquiring an additional 266 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in shares of Black Hills by 3.4% in the 4th quarter. State of Alaska Department of Revenue now owns 8,162 shares of the utilities provider’s stock valued at $477,000 after purchasing an additional 270 shares during the last quarter. 86.71% of the stock is currently owned by institutional investors and hedge funds.

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.