Black Hills (NYSE:BKH) Price Target Lowered to $85.00 at BMO Capital Markets

Black Hills (NYSE:BKH) had its target price decreased by BMO Capital Markets from $86.00 to $85.00 in a report released on Wednesday morning,Benzinga reports. BMO Capital Markets currently has an outperform rating on the utilities provider’s stock.

Other equities analysts have also issued reports about the company. LADENBURG THALM/SH SH started coverage on Black Hills in a report on Wednesday, April 1st. They set a “buy” rating and a $77.00 target price on the stock. Wall Street Zen downgraded Black Hills from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Weiss Ratings lowered Black Hills from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 9th. Oppenheimer set a $78.00 price objective on Black Hills in a research note on Thursday, June 11th. Finally, Bank of America boosted their target price on Black Hills from $78.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Six investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Black Hills has an average rating of “Buy” and a consensus price target of $81.67.

Black Hills Trading Up 0.9%

NYSE:BKH opened at $74.98 on Wednesday. The stock has a market cap of $5.71 billion, a PE ratio of 19.53, a price-to-earnings-growth ratio of 2.94 and a beta of 0.71. Black Hills has a fifty-two week low of $55.79 and a fifty-two week high of $78.69. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.53. The stock’s 50-day moving average is $73.51 and its two-hundred day moving average is $72.95.

Black Hills (NYSE:BKH) last posted its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $1.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.09). The company had revenue of $780.70 million during the quarter, compared to analysts’ expectations of $769.19 million. Black Hills had a return on equity of 7.77% and a net margin of 12.61%.Black Hills’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period last year, the company earned $1.87 earnings per share. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. As a group, equities research analysts forecast that Black Hills will post 4.34 earnings per share for the current fiscal year.

Black Hills Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were paid a $0.703 dividend. The ex-dividend date was Friday, May 15th. This represents a $2.81 annualized dividend and a dividend yield of 3.8%. Black Hills’s dividend payout ratio (DPR) is presently 73.18%.

Insider Activity

In other Black Hills news, Director Robert P. Otto sold 4,109 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $74.22, for a total value of $304,969.98. Following the sale, the director directly owned 10,886 shares in the company, valued at $807,958.92. This trade represents a 27.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.56% of the company’s stock.

Institutional Trading of Black Hills

Institutional investors have recently modified their holdings of the company. State Street Corp lifted its holdings in shares of Black Hills by 0.8% during the second quarter. State Street Corp now owns 3,841,615 shares of the utilities provider’s stock valued at $215,515,000 after acquiring an additional 31,093 shares during the period. Capital Research Global Investors grew its holdings in shares of Black Hills by 38.7% in the 4th quarter. Capital Research Global Investors now owns 2,275,922 shares of the utilities provider’s stock worth $157,995,000 after purchasing an additional 634,800 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Black Hills by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 1,894,539 shares of the utilities provider’s stock worth $131,548,000 after purchasing an additional 55,232 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of Black Hills by 176.9% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,592,000 shares of the utilities provider’s stock worth $110,517,000 after purchasing an additional 1,017,000 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Black Hills by 3.2% during the 4th quarter. AQR Capital Management LLC now owns 1,418,384 shares of the utilities provider’s stock worth $98,464,000 after purchasing an additional 44,334 shares in the last quarter. Institutional investors and hedge funds own 86.71% of the company’s stock.

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.