Thrivent Financial for Lutherans Acquires 12,805 Shares of Black Hills Co. (NYSE:BKH)

Thrivent Financial for Lutherans boosted its stake in Black Hills Co. (NYSE:BKH - Free Report) by 7.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 176,639 shares of the utilities provider's stock after purchasing an additional 12,805 shares during the quarter. Thrivent Financial for Lutherans owned about 0.26% of Black Hills worth $9,606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of BKH. Rise Advisors LLC bought a new stake in Black Hills during the first quarter worth about $31,000. Pathway Financial Advisers LLC bought a new stake in Black Hills in the 1st quarter worth approximately $31,000. Sunbelt Securities Inc. purchased a new stake in Black Hills in the first quarter worth approximately $33,000. Riverview Trust Co bought a new position in Black Hills during the first quarter valued at approximately $38,000. Finally, Hexagon Capital Partners LLC raised its stake in shares of Black Hills by 77.2% during the first quarter. Hexagon Capital Partners LLC now owns 732 shares of the utilities provider's stock worth $40,000 after acquiring an additional 319 shares in the last quarter. 86.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Black Hills Trading Up 0.5 %

NYSE:BKH traded up $0.29 during midday trading on Thursday, reaching $61.22. 95,800 shares of the stock traded hands, compared to its average volume of 471,247. The stock has a market capitalization of $4.27 billion, a P/E ratio of 15.00, a PEG ratio of 4.36 and a beta of 0.68. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.94 and a current ratio of 1.06. The company has a fifty day moving average of $58.83 and a 200 day moving average of $55.92. Black Hills Co. has a 12 month low of $46.43 and a 12 month high of $61.96.

Black Hills (NYSE:BKH - Get Free Report) last posted its earnings results on Wednesday, July 31st. The utilities provider reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.04. The company had revenue of $402.60 million during the quarter, compared to analyst estimates of $498.00 million. Black Hills had a net margin of 12.96% and a return on equity of 8.21%. Black Hills's revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.35 earnings per share. On average, research analysts predict that Black Hills Co. will post 3.9 EPS for the current year.

Black Hills Dividend Announcement

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

Black Hills 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.