Black Hills (BKH) Earns Buy Rating From Siebert Williams with $82 Target

Black Hills Corporation (NYSE:BKH) is included among the 14 Quality Stocks with Highest Dividends.

Black Hills (BKH) Earns Buy Rating From Siebert Williams with $82 Target

On March 12, Siebert Williams analyst Christopher Ellinghaus upgraded Black Hills Corporation (NYSE:BKH) to Buy from Hold. The firm set a price target of $82 on the stock.

During the Q4 2025 earnings call, President, CEO, and Director Linden Evans said the company had raised its dividend for the 55th consecutive year. He added that the streak extended to 56 years in January 2026. He also voiced strong support for the planned merger with NorthWestern Energy. He described the combination as a logical step, one that is expected to benefit stakeholders. In his view, the deal should create a stronger and more competitive utility platform and deliver long-term value.

Evans pointed to progress on the regulatory side. He mentioned the completion of three rate reviews and said key project approvals continue to move forward. He also noted that the company expanded its data center pipeline to more than 3 gigawatts. At the same time, it completed the 260-mile Ready Wyoming transmission project on schedule.

Black Hills Corporation (NYSE:BKH) operates as a customer-focused, growth-oriented utility company. It serves 1.35 million natural gas and electric customers across Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota, and Wyoming. Its operations are organized into Electric Utilities and Gas Utilities segments.

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