What Can Investors Expect From Black Hills Corp (NYSE:BKH) Shares After BofA Merrill’s New Coverage?

Share

How BofA Merrill Currently Rates Black Hills Corp (NYSE:BKH)

BofA Merrill have started coverage on Black Hills Corp (NYSE:BKH) shares recently in a recent report revealed to clients and investors on Tuesday morning. The brokerage firm has decided to place a “Buy” rating on BKH stock.

From a total of 3 analysts covering Black Hills Corp (NYSE:BKH) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 3 a ”Hold”. This means that 0% of the ratings are positive. Black Hills Corp was the topic of 2 analyst reports since August 7, 2015 according to the firm StockzIntelligence Inc. Bank of America initiated shares on December 8 with “Buy” rating.

The stock increased 2.29% or $0.95 during the last trading session, striking $42.5. Approximately shares of stock traded hands. Black Hills Corp (NYSE:BKH) has declined 12.30% since May 6, 2015 and is downtrending. It has underperformed by 11.50% the S&P500.

The overall sentiment of institutions has increased to 1.39 in Q2 2015. Its up 0.06, from 1.33 in 2015Q2. The ratio improved, as 21 institutions have sold all the shares of Black Hills Corp that they owned while 58 funds have taken shares off the table. 31 funds have purchased shares for the first time while 79 added to their positions. These institutions now hold 42.90 million shares or 30.05% more than the 32.99 million shares they owned in 2015Q2.

The Fund Jet Capital Investors L P currently is holding shares equating to 3.23% of its total portfolio in Black Hills Corp representing a total of 1.22 million shares. Another fund,First National Bank Sioux Falls, is holding a total of 5,657 shares equating to 0.77% of their holdings. Additionally, Capital Management Associates Ny has a 10,000 share stake in Black Hills Corp which represents 0.64% of their total portfolio. The Fund, New Jersey Better Educational Savings Trust, based out of New Jersey, has also built up a stake in the stock, which represents a total of 0.59% of their total portfolio. Finally Old Republic International Corp, a fund which is based in the state of Illinois reported a total holdings of 227,800 shares.

Black Hills Corporation is an integrated energy company. The company has a market cap of $1.86 billion. The Firm operates in the United States with two business groups: Utilities and Non-regulated Energy. It has 104.57 P/E ratio. The Company’s Utilities Group is comprised of regulated Electric Utilities and regulated Gas Utilities divisions, and its Non-regulated Energy Group is comprised of Power Generation, Coal Mining, and Oil and Gas divisions.

According to Zacks Investment Research, “Black Hills Corp. is an energy company primarily consisting of four principal businesses: electric, coal mining, oil and gas production, and energy marketing. The Company’s mission statement is to position the Company nationally to build value for shareholders, offer competitive prices for customers and create opportunities for employees through quality energy products and services.” Get a free copy of the Zacks research report on Black Hills Corp (BKH).

COMMENTS: