CWA Asset Management Group LLC acquired a new position in shares of Black Hills Co. (NYSE:BKH - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 29,560 shares of the utilities provider's stock, valued at approximately $1,807,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in BKH. Daiwa Securities Group Inc. increased its stake in Black Hills by 34.3% during the 1st quarter. Daiwa Securities Group Inc. now owns 6,111 shares of the utilities provider's stock valued at $334,000 after buying an additional 1,561 shares during the period. Texas Permanent School Fund Corp boosted its stake in Black Hills by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 59,423 shares of the utilities provider's stock valued at $3,244,000 after purchasing an additional 787 shares in the last quarter. Duality Advisers LP acquired a new position in shares of Black Hills during the 1st quarter valued at $740,000. Empowered Funds LLC bought a new stake in shares of Black Hills in the 1st quarter worth $1,028,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Black Hills by 357.0% in the first quarter. SG Americas Securities LLC now owns 10,754 shares of the utilities provider's stock valued at $587,000 after buying an additional 8,401 shares during the period. 86.71% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of analysts recently commented on the stock. Wells Fargo & Company boosted their target price on shares of Black Hills from $61.00 to $64.00 and gave the stock an "equal weight" rating in a report on Friday, August 2nd. Scotiabank lifted their price target on Black Hills from $54.00 to $63.00 and gave the stock a "sector perform" rating in a research note on Tuesday, August 20th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $58.00.
View Our Latest Research Report on Black Hills
Black Hills Stock Up 2.0 %
BKH stock traded up $1.21 during midday trading on Friday, reaching $60.78. The company had a trading volume of 456,582 shares, compared to its average volume of 518,025. The company has a 50 day moving average of $60.19 and a two-hundred day moving average of $57.51. The company has a current ratio of 1.06, a quick ratio of 0.94 and a debt-to-equity ratio of 1.23. Black Hills Co. has a 1 year low of $48.27 and a 1 year high of $62.20. The company has a market capitalization of $4.24 billion, a P/E ratio of 16.34, a PEG ratio of 4.36 and a beta of 0.69.
Black Hills (NYSE:BKH - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.47 by ($0.12). Black Hills had a net margin of 12.00% and a return on equity of 7.51%. The firm had revenue of $401.60 million for the quarter. On average, equities research analysts expect that Black Hills Co. will post 3.91 earnings per share for the current fiscal year.
Black Hills Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Monday, November 18th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 4.28%. The ex-dividend date is Monday, November 18th. Black Hills's payout ratio is presently 69.89%.
About Black Hills
(
Free Report)
Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. The company operates in two segments: Electric Utilities and Gas Utilities. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 222,000 electric utility customers in Colorado, Montana, South Dakota, and Wyoming; and owns and operates 1,394 megawatts of generation capacity and 9,106 miles of electric transmission and distribution lines.
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