RBC Capital Believes BKH Won’t Stop Here

By Ryan Adsit

RBC Capital analyst Shelby Tucker reiterated a Buy rating on Black Hills Corp (NYSE: BKH) yesterday and set a price target of $70. The company’s shares closed yesterday at $66.65, close to its 52-week high of $67.02.

According to TipRanks.com, Tucker is a 4-star analyst with an average return of 4.4% and a 73.5% success rate. Tucker covers the Utilities sector, focusing on stocks such as Pinnacle West Capital Corp, Public Service Enterprise, and American Electric Power.

Black Hills Corp has an analyst consensus of Strong Buy, with a price target consensus of $68.50.

Based on Black Hills Corp’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $462 million and quarterly net profit of $18.17 million. In comparison, last year the company earned revenue of $343 million and had a GAAP net loss of $14.18 million.

Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BKH in relation to earlier this year. Earlier this month, Thomas Zeller, a Director at BKH sold 284 shares for a total of $18,537.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Black Hills Corp. is a diversified energy company. It operates through two business groups: Utilities and Non-Regulated Energy. The Utilities group is comprised of the company’s Regulated Electric Utilities and Regulated Gas Utilities segments. The Non-Regulated Energy group is comprised of Oil and Gas, Power Generation and Coal Mining. The Regulated Electric Utilities segment generates, transmits and distributes electricity to customers in South Dakota, Wyoming, Colorado and Montana and includes the operations of Cheyenne Light, a combination electric and gas utility. The Regulated Gas Utilities segment serves natural gas utility customers in Colorado, Nebraska, Iowa and Kansas. The Oil and Gas segment engages in the exploration, development and production of crude oil and natural gas, primarily in the Rocky Mountain region. The Coal Mining segment produces coal at the company’s coal mine near Gillette, Wyoming. The Power Generation segment produces electric power from the company’s generating plants and sells the electric capacity and energy primarily under long-term contracts. The company was founded in 1883 and is headquartered in Rapid City, SD.