JPMorgan Chase & Co. Lowers Black Hills (BKH) Price Target to $56.00
Black Hills (NYSE:BKH) had its price target decreased by JPMorgan Chase & Co. from $67.00 to $56.00 in a research note released on Thursday. JPMorgan Chase & Co. currently has an overweight rating on the utilities provider’s stock.
Other analysts have also issued research reports about the stock. Williams Capital upgraded shares of Black Hills from a hold rating to a buy rating and dropped their price target for the company from $70.00 to $62.00 in a research report on Wednesday, January 10th. Wells Fargo & Co started coverage on shares of Black Hills in a research report on Friday, October 27th. They set a market perform rating and a $58.00 price target on the stock. Credit Suisse Group lowered shares of Black Hills from an outperform rating to a neutral rating and set a $66.00 price target on the stock. in a research report on Tuesday, January 9th. Bank of America upgraded shares of Black Hills from an underperform rating to a neutral rating and set a $61.00 price target on the stock in a research report on Monday, November 13th. Finally, Royal Bank of Canada dropped their price target on shares of Black Hills from $72.00 to $64.00 and set an outperform rating on the stock in a research report on Monday, November 6th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $64.50.
Shares of Black Hills (BKH) opened at $56.12 on Thursday. The company has a market cap of $2,993.56, a price-to-earnings ratio of 21.42, a P/E/G ratio of 3.42 and a beta of 0.73. The company has a current ratio of 0.69, a quick ratio of 0.47 and a debt-to-equity ratio of 1.73. Black Hills has a 52-week low of $52.50 and a 52-week high of $72.02.
Institutional investors and hedge funds have recently bought and sold shares of the business. Advisor Group Inc. lifted its holdings in Black Hills by 7.7% during the second quarter. Advisor Group Inc. now owns 2,119 shares of the utilities provider’s stock valued at $142,000 after purchasing an additional 151 shares in the last quarter. Flinton Capital Management LLC lifted its holdings in Black Hills by 68.8% during the second quarter. Flinton Capital Management LLC now owns 2,592 shares of the utilities provider’s stock valued at $175,000 after purchasing an additional 1,056 shares in the last quarter. Suntrust Banks Inc. purchased a new position in Black Hills during the second quarter valued at $202,000. Quantbot Technologies LP lifted its holdings in Black Hills by 172.5% during the second quarter. Quantbot Technologies LP now owns 3,033 shares of the utilities provider’s stock valued at $204,000 after purchasing an additional 1,920 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its holdings in Black Hills by 2.6% during the second quarter. Public Employees Retirement System of Ohio now owns 3,232 shares of the utilities provider’s stock valued at $218,000 after purchasing an additional 81 shares in the last quarter. 95.20% of the stock is currently owned by institutional investors and hedge funds.
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Black Hills Company Profile
Black Hills Corporation is a holding company. The Company is an integrated energy company, which is focused primarily on regulated utilities. The Company operates through segments, including Electric Utilities, Gas Utilities, Power Generation, Mining, Oil and Gas, and Corporate. As of December 31, 2016, the Electric Utilities segment generated, transmitted and distributed electricity to approximately 208,500 customers in South Dakota, Wyoming, Colorado and Montana.
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