Black Hills (NYSE:BKH) Given New $76.00 Price Target at Bank of America

Black Hills (NYSE:BKH) had its target price raised by analysts at Bank of America from $72.00 to $76.00 in a report released on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the utilities provider’s stock. Bank of America‘s price target would suggest a potential upside of 2.99% from the stock’s current price.

BKH has been the subject of a number of other research reports. Wall Street Zen raised Black Hills from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Siebert Williams Shank raised Black Hills from a “hold” rating to a “buy” rating and boosted their price target for the stock from $79.00 to $82.00 in a research report on Thursday, March 12th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Black Hills in a research report on Friday, March 27th. BMO Capital Markets boosted their price objective on Black Hills from $82.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, February 9th. Finally, LADENBURG THALM/SH SH initiated coverage on Black Hills in a research report on Wednesday, April 1st. They set a “buy” rating and a $77.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Black Hills presently has an average rating of “Moderate Buy” and a consensus target price of $80.00.

Black Hills Price Performance

Shares of NYSE:BKH opened at $73.79 on Thursday. Black Hills has a fifty-two week low of $54.92 and a fifty-two week high of $75.87. The business has a 50-day moving average of $72.07 and a two-hundred day moving average of $69.34. The stock has a market capitalization of $5.61 billion, a P/E ratio of 18.54, a P/E/G ratio of 2.78 and a beta of 0.73. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.35 and a quick ratio of 1.11.

Black Hills (NYSE:BKH) last announced its quarterly earnings results on Wednesday, February 4th. The utilities provider reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.04. Black Hills had a return on equity of 7.91% and a net margin of 12.62%.The company had revenue of $635.50 million during the quarter, compared to analysts’ expectations of $809.88 million. During the same quarter in the previous year, the firm earned $1.37 earnings per share. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. On average, equities research analysts predict that Black Hills will post 4.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Black Hills

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in Black Hills by 67.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 618,131 shares of the utilities provider’s stock valued at $38,071,000 after buying an additional 249,640 shares during the last quarter. ProShare Advisors LLC boosted its position in 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 during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Black Hills by 84.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 15,944 shares of the utilities provider’s stock valued at $976,000 after buying an additional 7,314 shares during the last quarter. AlphaQuest LLC bought a new position in Black Hills in the 3rd quarter valued at $1,354,000. Finally, Barnett & Company Inc. boosted its position in Black Hills by 105.8% in the 3rd quarter. Barnett & Company Inc. now owns 28,400 shares of the utilities provider’s stock valued at $1,749,000 after buying an additional 14,600 shares during the last quarter. 86.71% of the stock is currently owned by institutional investors.

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.