With an annual dividend yield of 3.79%, Black Hills Corporation (NYSE:BKH) is included among the 10 Best High-Yield Dividend Growth Stocks to Buy Right Now.
On April 15, BMO Capital analyst Edward DeArias raised the firm’s price recommendation on Black Hills Corporation (NYSE:BKH) to $91 from $84. It reiterated an Outperform rating on the shares. The move followed a jump in the stock after reports that Microsoft (MSFT) is buying land to build a data center that would be served by the company. The analyst said that, over time, this opportunity, along with continued hyperscaler interest in the state, could extend Black Hills’ growth trajectory.
The note also pointed out that the stock’s current discount to peers reflects concerns around management’s execution on its plan, despite a strong balance sheet and recovery mechanisms already in place. Potential new large load announcements and updates to the capital plan could also play a role going forward.
Black Hills Corporation (NYSE:BKH) operates as a utility company focused on serving customers across multiple regions. It provides natural gas and electric services to about 1.35 million customers in Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota, and Wyoming. Its business is organized into Electric Utilities and Gas Utilities segments.
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