BKH Should I Buy
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Black Hills Corp is not an optimal buy for a beginner, long-term investor at this moment. While the company has a strong dividend growth history and positive financial performance, the ongoing merger uncertainty and lack of significant positive trading signals suggest holding off for now.
The stock shows mixed technical indicators. While the moving averages are bullish (SMA_5 > SMA_20 > SMA_200), the MACD is below 0 and negatively contracting, and the RSI is neutral at 60.84. The stock is trading near its pivot level of 73.638 with resistance at 74.721 and support at 72.555.
The company has a 56-year dividend growth record and plans to invest $4.7 billion by 2030 to meet energy demands. Financials for Q4 2025 show revenue growth of 6.43% YoY and net income growth of 7.03% YoY.
Uncertainty surrounding the merger with NorthWestern Energy, as highlighted by Wells Fargo's downgrade and Halper Sadeh LLC's investigation into the deal. Gross margin dropped by 3.17% YoY in Q4 2025.
In Q4 2025, revenue increased by 6.43% YoY to $635.5 million, net income grew by 7.03% YoY to $105 million, and EPS rose by 1.46% YoY to 1.39. However, gross margin decreased to 51.36%, down 3.17% YoY.
BMO Capital raised the price target to $84 from $82 and maintains an Outperform rating. BofA raised the price target to $72 from $70 with a Neutral rating. Wells Fargo expressed concerns about the merger, downgrading NorthWestern Energy and highlighting risks for Black Hills.
