Black Hills (NYSE:BKH) Upgraded at Siebert Williams Shank

Siebert Williams Shank upgraded shares of Black Hills (NYSE:BKH) from a hold rating to a buy rating in a report published on Thursday morning, MarketBeat.com reports. The brokerage currently has $82.00 target price on the utilities provider’s stock, up from their prior target price of $79.00.

A number of other analysts have also recently issued reports on the stock. Wall Street Zen upgraded shares of Black Hills from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Black Hills in a research note on Monday, December 29th. Finally, BMO Capital Markets increased their price target on shares of Black Hills from $82.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, February 9th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $77.75.

Black Hills Stock Up 2.5%

Shares of BKH stock opened at $72.40 on Thursday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.11 and a current ratio of 1.35. The firm’s 50-day moving average is $72.68 and its 200-day moving average is $67.95. The stock has a market cap of $5.46 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 2.86 and a beta of 0.75. Black Hills has a 52-week low of $54.92 and a 52-week high of $75.87.

Black Hills (NYSE:BKH) last issued its earnings results on Wednesday, February 4th. The utilities provider reported $1.41 earnings per share (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%. During the same period in the prior year, the company posted $1.37 earnings per share. Black Hills’s revenue for the quarter was up 6.4% on a year-over-year basis. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. Sell-side analysts predict that Black Hills will post 4.12 EPS for the current year.

Black Hills Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, March 1st. Investors of record on Tuesday, February 17th were paid a $0.703 dividend. This represents a $2.81 annualized dividend and a dividend yield of 3.9%. This is an increase from Black Hills’s previous quarterly dividend of $0.68. The ex-dividend date was Tuesday, February 17th. Black Hills’s dividend payout ratio is presently 70.60%.

Hedge Funds Weigh In On Black Hills

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ProShare Advisors LLC raised its position in shares of Black Hills by 10.8% in the 3rd quarter. ProShare Advisors LLC now owns 736,014 shares of the utilities provider’s stock valued at $45,331,000 after buying an additional 71,963 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Black Hills by 84.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 15,944 shares of the utilities provider’s stock valued at $976,000 after acquiring an additional 7,314 shares during the last quarter. AlphaQuest LLC acquired a new position in Black Hills during the third quarter valued at approximately $1,354,000. Barnett & Company Inc. lifted its stake in Black Hills by 105.8% during the third quarter. Barnett & Company Inc. now owns 28,400 shares of the utilities provider’s stock worth $1,749,000 after purchasing an additional 14,600 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Black Hills by 294.8% in the 2nd quarter. SG Americas Securities LLC now owns 262,011 shares of the utilities provider’s stock valued at $14,699,000 after purchasing an additional 195,640 shares in the last quarter. 86.71% of the stock is owned by institutional investors and hedge funds.

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.