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

Black Hills (NYSE:BKH - Get Free Report) had its price objective cut by equities researchers at Scotiabank from $67.00 to $66.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a "sector perform" rating on the utilities provider's stock. Scotiabank's target price points to a potential upside of 10.22% from the stock's current price.

Black Hills Trading Up 0.4 %

Shares of BKH traded up $0.21 during trading hours on Friday, reaching $59.88. 118,616 shares of the company traded hands, compared to its average volume of 466,775. The company's fifty day moving average price is $58.96 and its two-hundred day moving average price is $59.69. The company has a market capitalization of $4.29 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 4.30 and a beta of 0.73. The company has a quick ratio of 0.83, a current ratio of 1.12 and a debt-to-equity ratio of 1.20. Black Hills has a 12 month low of $50.51 and a 12 month high of $65.59.

Black Hills (NYSE:BKH - Get Free Report) last announced its earnings results on Wednesday, February 5th. The utilities provider reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.20 by $0.17. Black Hills had a net margin of 12.84% and a return on equity of 7.88%. Equities research analysts predict that Black Hills will post 4.13 earnings per share for the current fiscal year.

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Institutional Investors Weigh In On Black Hills

Several hedge funds have recently bought and sold shares of BKH. CWM LLC boosted its stake in Black Hills by 37.3% during the third quarter. CWM LLC now owns 6,386 shares of the utilities provider's stock worth $390,000 after acquiring an additional 1,736 shares in the last quarter. Code Waechter LLC bought a new stake in Black Hills during the third quarter worth about $403,000. Inspire Investing LLC boosted its stake in Black Hills by 4.1% during the third quarter. Inspire Investing LLC now owns 6,741 shares of the utilities provider's stock worth $412,000 after acquiring an additional 266 shares in the last quarter. Creative Planning boosted its stake in Black Hills by 4.1% during 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 stake in Black Hills during the third quarter worth about $221,000. Institutional investors own 86.71% of the company's stock.

About Black Hills

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.