On February 8, 2023, B of A Securities downgraded their outlook for Black Hills from Neutral to Underperform.

Analyst Price Forecast Suggests 12.23% Upside

As of February 9, 2023, the average one-year price target for Black Hills is $79.71. The forecasts range from a low of $71.71 to a high of $88.20. The average price target represents an increase of 12.23% from its latest reported closing price of $71.02.

The projected annual revenue for Black Hills is $2,239MM, a decrease of 12.26%. The projected annual EPS is $4.23, an increase of 6.05%.

What are large shareholders doing?

SDY – SPDR Dividend ETF holds 3,557,667 shares representing 5.47% ownership of the company. In it’s prior filing, the firm reported owning 3,432,967 shares, representing an increase of 3.51%. The firm decreased its portfolio allocation in BKH by 1.54% over the last quarter.

Macquarie Group holds 2,600,777 shares representing 4.00% ownership of the company. In it’s prior filing, the firm reported owning 2,502,209 shares, representing an increase of 3.79%. The firm decreased its portfolio allocation in BKH by 60.77% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 1,953,360 shares representing 3.00% ownership of the company. In it’s prior filing, the firm reported owning 1,912,076 shares, representing an increase of 2.11%. The firm decreased its portfolio allocation in BKH by 0.89% over the last quarter.

IJH – iShares Core S&P Mid-Cap ETF holds 1,901,781 shares representing 2.92% ownership of the company. In it’s prior filing, the firm reported owning 1,864,353 shares, representing an increase of 1.97%. The firm decreased its portfolio allocation in BKH by 4.58% over the last quarter.

Wellington Management Group Llp holds 1,694,270 shares representing 2.60% ownership of the company. In it’s prior filing, the firm reported owning 1,783,827 shares, representing a decrease of 5.29%. The firm decreased its portfolio allocation in BKH by 87.00% over the last quarter.

Fund Sentiment

There are 729 funds or institutions reporting positions in Black Hills. This is a decrease of 8 owner(s) or 1.09%.

Average portfolio weight of all funds dedicated to US:BKH is 0.2562%, a decrease of 4.5569%. Total shares owned by institutions increased in the last three months by 1.02% to 75,264K shares.

Black Hills Background Information
(This description is provided by the company.)

Black Hills Corp. is a customer focused, growth-oriented utility company with a tradition of improving life with energy and a vision to be the energy partner of choice. Based in Rapid City, South Dakota, the company serves 1.3 million natural gas and electric utility customers in eight states: Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming.

This article originally appeared on Fintel

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