Black Hills (NYSE:BKH) Price Target Raised to $67.00

Black Hills (NYSE:BKH) had its price objective raised by Scotiabank from $63.00 to $67.00 in a research report released on Thursday,Benzinga reports. The firm currently has a sector perform rating on the utilities provider’s stock.

Black Hills Price Performance

BKH opened at $60.96 on Thursday. The company has a fifty day moving average price of $61.36 and a two-hundred day moving average price of $58.68. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.83 and a current ratio of 1.12. The firm has a market capitalization of $4.36 billion, a PE ratio of 16.39, a P/E/G ratio of 4.41 and a beta of 0.71. Black Hills has a 52 week low of $49.33 and a 52 week high of $65.59.

Black Hills Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Monday, November 18th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date of this dividend was Monday, November 18th. Black Hills’s dividend payout ratio (DPR) is currently 69.89%.

Institutional Trading of Black Hills

Institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. boosted its stake in Black Hills by 84.9% during the 3rd quarter. Blue Trust Inc. now owns 577 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 265 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of Black Hills during the third quarter worth $45,000. Quarry LP grew its holdings in shares of Black Hills by 158.0% in the 2nd quarter. Quarry LP now owns 841 shares of the utilities provider’s stock valued at $46,000 after buying an additional 515 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its position in shares of Black Hills by 972.3% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 890 shares of the utilities provider’s stock valued at $48,000 after buying an additional 807 shares in the last quarter. Finally, Point72 DIFC Ltd bought a new stake in shares of Black Hills in the 3rd quarter valued at $82,000. 86.71% of the stock is owned by institutional investors.

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.