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

Black Hills (NYSE:BKH) had its price objective increased by analysts at Scotiabank from $63.00 to $67.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “sector perform” rating on the utilities provider’s stock. Scotiabank’s price target would indicate a potential upside of 9.94% from the stock’s previous close.

Black Hills Stock Performance

NYSE:BKH opened at $60.95 on Thursday. 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 stock has a 50-day simple moving average of $61.36 and a two-hundred day simple moving average of $58.66. The firm has a market capitalization of $4.36 billion, a PE ratio of 16.38, 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.

Institutional Trading of Black Hills

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