Scotiabank Lowers Black Hills (NYSE:BKH) Price Target to $66.00

Black Hills (NYSE:BKH) had its price objective decreased by Scotiabank from $67.00 to $66.00 in a research report sent to investors on Friday,Benzinga reports. Scotiabank currently has a sector perform rating on the utilities provider’s stock.

Black Hills Trading Down 0.7 %

Shares of Black Hills stock opened at $59.46 on Friday. The company’s 50-day moving average price is $59.02 and its 200-day moving average price is $59.66. The company has a current ratio of 1.12, a quick ratio of 0.83 and a debt-to-equity ratio of 1.20. Black Hills has a 12-month low of $49.50 and a 12-month high of $65.59. The company has a market cap of $4.26 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 4.21 and a beta of 0.73.

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

Black Hills Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, February 18th will be issued a $0.676 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $2.70 annualized dividend and a dividend yield of 4.55%. This is a boost from Black Hills’s previous quarterly dividend of $0.65. Black Hills’s dividend payout ratio (DPR) is presently 69.89%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. CWM LLC lifted its position in Black Hills by 37.3% during the third quarter. CWM LLC now owns 6,386 shares of the utilities provider’s stock valued at $390,000 after purchasing an additional 1,736 shares during the last quarter. Code Waechter LLC bought a new stake in shares of Black Hills during the 3rd quarter worth $403,000. Inspire Investing LLC lifted its holdings in shares of 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. Creative Planning grew its position in Black Hills by 4.1% in the third quarter. Creative Planning now owns 24,537 shares of the utilities provider’s stock worth $1,500,000 after acquiring an additional 966 shares in the last quarter. Finally, SeaCrest Wealth Management LLC bought a new position in Black Hills in the third quarter valued at $221,000. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Black Hills Company Profile

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.