Scotiabank Forecasts Strong Price Appreciation for Black Hills (NYSE:BKH) Stock

Black Hills (NYSE:BKH) had its target price increased by Scotiabank from $63.00 to $67.00 in a research note released on Thursday morning,Benzinga reports. They currently have a sector perform rating on the utilities provider’s stock.

Black Hills Stock Down 0.0 %

Shares of BKH stock opened at $60.96 on Thursday. Black Hills has a 12-month low of $49.33 and a 12-month high of $65.59. The company has a quick ratio of 0.83, a current ratio of 1.12 and a debt-to-equity ratio of 1.20. The firm has a fifty day moving average of $61.36 and a 200-day moving average of $58.68. The company has a market capitalization of $4.36 billion, a price-to-earnings ratio of 16.39, a P/E/G ratio of 4.41 and a beta of 0.71.

Black Hills Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Monday, November 18th were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend was Monday, November 18th. Black Hills’s dividend payout ratio is 69.89%.

Institutional Inflows and Outflows

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

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.