Black Hills Co. (NYSE:BKH) Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC increased its stake in shares of Black Hills Co. (NYSE:BKH - Free Report) by 34.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,024 shares of the utilities provider's stock after purchasing an additional 27,677 shares during the quarter. Hsbc Holdings PLC owned 0.16% of Black Hills worth $5,854,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Signaturefd LLC grew its position in shares of Black Hills by 4.1% during the second quarter. Signaturefd LLC now owns 4,736 shares of the utilities provider's stock worth $258,000 after buying an additional 188 shares in the last quarter. Uncommon Cents Investing LLC raised its holdings in shares of Black Hills by 2.0% in the 1st quarter. Uncommon Cents Investing LLC now owns 10,710 shares of the utilities provider's stock valued at $585,000 after purchasing an additional 210 shares in the last quarter. Retirement Systems of Alabama lifted its position in shares of Black Hills by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 85,382 shares of the utilities provider's stock worth $4,662,000 after purchasing an additional 225 shares during the last quarter. Lesa Sroufe & Co grew its stake in shares of Black Hills by 0.5% during the second quarter. Lesa Sroufe & Co now owns 43,294 shares of the utilities provider's stock worth $2,354,000 after purchasing an additional 231 shares in the last quarter. Finally, BancFirst Trust & Investment Management increased its holdings in Black Hills by 5.7% in the second quarter. BancFirst Trust & Investment Management now owns 4,326 shares of the utilities provider's stock valued at $234,000 after buying an additional 233 shares during the last quarter. Hedge funds and other institutional investors own 86.71% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on BKH. Mizuho lifted their price target on Black Hills from $53.00 to $57.00 and gave the stock a "neutral" rating in a report on Tuesday, June 4th. Wells Fargo & Company upped their price target on Black Hills from $61.00 to $64.00 and gave the company an "equal weight" rating in a report on Friday, August 2nd. Finally, Scotiabank raised their price objective on shares of Black Hills from $54.00 to $63.00 and gave the stock a "sector perform" rating in a report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $58.00.

Black Hills Stock Performance

BKH traded down $0.38 during trading on Tuesday, hitting $61.15. 466,702 shares of the stock were exchanged, compared to its average volume of 473,715. The company has a quick ratio of 0.94, a current ratio of 1.06 and a debt-to-equity ratio of 1.23. Black Hills Co. has a 1-year low of $46.43 and a 1-year high of $61.96. The stock has a fifty day moving average price of $58.73 and a two-hundred day moving average price of $55.83. The firm has a market capitalization of $4.21 billion, a P/E ratio of 15.10 and a beta of 0.68.

Black Hills (NYSE:BKH - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.29 by $0.04. Black Hills had a net margin of 12.96% and a return on equity of 8.21%. The firm had revenue of $402.60 million during the quarter, compared to the consensus estimate of $498.00 million. During the same quarter in the prior year, the firm earned $0.35 EPS. Black Hills's revenue for the quarter was down 2.1% on a year-over-year basis. As a group, sell-side analysts predict that Black Hills Co. will post 3.92 earnings per share for the current year.

Black Hills Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Monday, August 19th were given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 4.25%. The ex-dividend date was Monday, August 19th. Black Hills's dividend payout ratio (DPR) is presently 64.04%.

Black Hills Company Profile

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.