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Credit Suisse has upgraded Black Hills Corporation (NYSE: BKH), which now ranks the stock above the neutral rating, according to a note released Oct. 17. Scotia Howard Weil badysts began hedging on July 24 with a Perform sector rating. The title has lost the favor of BofA / Merrill badysts who expressed their loss of confidence by using a Neutral degradation at Underperform on July 12. JP Morgan badysts issued a bearish point of view on February 7th when the call was launched. They think the title is now neutral compared to their previous call for overweight.
Black Hills Corporation (BKH) hit an intraday high on Thursday at $ 61.95. Shares finished at $ 61.37 after trading at $ 60.84 earlier in the session. It has fallen -1.35% in recent trading and currently has a market value of $ 3.27 billion. Trading activity improved significantly as the sales volume increased to 2,559,281 shares as compared to 700,030 in average daily trading volume over the last 20 days. So far this year, the average trading volume is about 557,097 shares. The stock now stands at 21.55% above its low of $ 50.49 in the bear market on March 02, 2018. It has fallen -7.33% since its peak of $ 65.87 for 52 weeks. in October. Now, the market price is down -5.42% over the year and up 2.1% since the beginning of the year.
The price of BKH's 50-day Simple Moving Average (SMA 50) is $ 59.77 and the $ 200 Simple 200-Day Moving Average (SMA 200) price is $ 57.14. The company's shares currently have a total float of 53.06 million shares. Its weekly volatility hovers around 2.5% and is reflected in a price volatility of 2.34% over a month. On the upside, the stock price will test near-term resistance around $ 61.93. In contrast, the title should find support, which starts at $ 60.82. The inability to get short-term support could bring it to $ 60.28.
Insider participation in Black Hills Corporation (BKH) is 0.1%, while institutions hold 0%. Franklin Resources Inc. is the largest mutual fund holder among mutual funds, with more than 1.68 million BKH shares as of June 30, with a market value of approx. $ 102.96 million as of today. The second largest shareholder, Adage Capital Partners Gp Llc, holds 1.45 million shares, representing a value of $ 88.76 million. Third, Oppenheimer Funds Inc., which registered 1.12 million shares, or 2.09% of Black Hills Corporation, for $ 68.41 million.
In addition, it has been reported that multiple insider activities took place at Black Hills Corporation (BKH). Director Zeller Thomas J sold 284 shares for $ 9,674. The transaction took place on 03/03/2017. After completing this transaction, the Director holds a direct interest of 18,540 shares, valued at $ 593,693, based on the last closing price. On 2017/02/08, Landis Jennifer C, Senior Vice President, Human Resources at BKH, purchased 1,200 shares at an average price of $ 60.85. The new participation is valued at $ 436,770.
The director, Pechota Gary L, had invested in 1,000 shares for $ 11,027 through a transaction in 2015/11/06. As a result of this activity, the insider holds 44,290 shares valued at $ 676,727 at the time of the recent closing. The most bullish badysts at Wall Street's Black Hills Corporation (NYSE: BKH) expect stock prices to exceed $ 65 per share in the next 12 months. The current median share price they anticipate is $ 62, suggesting that the stock could increase by 1.03% during this period. The average price target of $ 61.86 predicts a price rise of nearly 0.8%.
In terms of valuations, Black Hills Corporation (BKH) has a low P / E of $ 5.99, compared to an industry average of $ 27.04. In addition, it trades 17.94 times over the 12 months of expected earnings. In addition, it is trading at fairly expensive levels, at just over 1.8 times the price / pound and 1.9 times the price / sales. It is not liquid either in the short term, with a current ratio of 0.5. The stock has a debt / capital of 1.78.
Black Hills Corporation (BKH) shares have grown 3.5% since the company's December 18 earnings report. Over the past eleven quarters, Black Hills Corporation (NYSE: BKH) has surpbaded consensus earnings expectations in six quarters (50%), missed profits in five quarters (41%), while at no time, EPS met the expectations of badysts. BKH released its latest profit on August 6, 2018, when its results on June 18 exceeded expectations. The company earned $ 0.45 per share, a -95.32% change over the same period last year. It was better than the consensus for $ 0.41. Revenues for the most recent quarter were $ 354.4 million, up 2% from the previous year and down from $ 372.29 million forecast by badysts. Wall Street badysts expect this quarter on a turnover between $ 335.55 and $ 480 million, compared to the $ 0 achieved last year. EPS is between $ 0.73 and $ 0.91, compared to $ 1.15 a year ago.
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