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

Black Hills (NYSE:BKH) had its target price boosted by investment analysts at Scotiabank from $63.00 to $67.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “sector perform” rating on the utilities provider’s stock. Scotiabank’s target price suggests a potential upside of 9.94% from the stock’s current price.

Black Hills Price Performance

BKH opened at $60.95 on Thursday. Black Hills has a 1 year low of $49.33 and a 1 year high of $65.59. The stock has a 50-day moving average price of $61.36 and a 200-day moving average price of $58.66. The firm has a market cap of $4.36 billion, a PE ratio of 16.38, a P/E/G ratio of 4.41 and a beta of 0.71. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.12 and a quick ratio of 0.83.

Institutional Trading of Black Hills

A number of institutional investors and hedge funds have recently modified their holdings of the business. Leeward Investments LLC MA increased its holdings in Black Hills by 5.6% in the 2nd quarter. Leeward Investments LLC MA now owns 170,148 shares of the utilities provider’s stock worth $9,253,000 after buying an additional 9,048 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Black Hills by 161.5% in the second quarter. Canada Pension Plan Investment Board now owns 54,400 shares of the utilities provider’s stock worth $2,958,000 after acquiring an additional 33,600 shares during the period. Thrivent Financial for Lutherans raised its holdings in shares of Black Hills by 19.3% during the third quarter. Thrivent Financial for Lutherans now owns 210,768 shares of the utilities provider’s stock valued at $12,882,000 after purchasing an additional 34,129 shares during the last quarter. CWA Asset Management Group LLC bought a new position in Black Hills during the third quarter valued at approximately $1,807,000. Finally, HighTower Advisors LLC boosted its holdings in Black Hills by 19.3% in the third quarter. HighTower Advisors LLC now owns 102,335 shares of the utilities provider’s stock worth $6,257,000 after purchasing an additional 16,522 shares during the last quarter. 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.