Canada Pension Plan Investment Board Buys 33,600 Shares of Black Hills Co. (NYSE:BKH)

Canada Pension Plan Investment Board grew its holdings in Black Hills Co. (NYSE:BKH - Free Report) by 161.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 54,400 shares of the utilities provider's stock after purchasing an additional 33,600 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.08% of Black Hills worth $2,958,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of BKH. Capital Research Global Investors raised its position in shares of Black Hills by 17.1% in the 4th quarter. Capital Research Global Investors now owns 3,251,722 shares of the utilities provider's stock valued at $175,430,000 after acquiring an additional 475,768 shares during the period. Vanguard Group Inc. raised its position in shares of Black Hills by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 8,143,567 shares of the utilities provider's stock valued at $439,345,000 after acquiring an additional 322,271 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Black Hills by 36.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 755,095 shares of the utilities provider's stock valued at $40,737,000 after acquiring an additional 203,340 shares during the period. Victory Capital Management Inc. raised its position in shares of Black Hills by 54.5% in the 2nd quarter. Victory Capital Management Inc. now owns 481,415 shares of the utilities provider's stock valued at $26,179,000 after acquiring an additional 169,827 shares during the period. Finally, Jupiter Asset Management Ltd. raised its position in shares of Black Hills by 39.7% in the 1st quarter. Jupiter Asset Management Ltd. now owns 483,120 shares of the utilities provider's stock valued at $26,378,000 after acquiring an additional 137,356 shares during the period. Institutional investors own 86.71% of the company's stock.

Black Hills Stock Up 0.7 %

Shares of BKH traded up $0.40 during mid-day trading on Friday, hitting $61.05. 315,139 shares of the company's stock were exchanged, compared to its average volume of 471,869. The company has a market cap of $4.26 billion, a PE ratio of 15.06, a P/E/G ratio of 4.36 and a beta of 0.68. Black Hills Co. has a 52 week low of $46.43 and a 52 week high of $61.96. The company has a 50-day simple moving average of $58.87 and a 200 day simple moving average of $55.95. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.06 and a quick ratio of 0.94.

Black Hills (NYSE:BKH - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.33 earnings per share for the quarter, topping 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 company had revenue of $402.60 million during the quarter, compared to analysts' expectations of $498.00 million. During the same period last year, the business earned $0.35 EPS. The business's quarterly revenue was down 2.1% on a year-over-year basis. On average, research analysts forecast that Black Hills Co. will post 3.9 earnings per share for the current fiscal year.

Black Hills Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Monday, August 19th were paid a $0.65 dividend. The ex-dividend date was Monday, August 19th. This represents a $2.60 annualized dividend and a dividend yield of 4.26%. Black Hills's dividend payout ratio is presently 64.04%.

Wall Street Analysts Forecast Growth

Several analysts have commented on BKH shares. Wells Fargo & Company raised 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. Mizuho raised their target price on shares of Black Hills from $53.00 to $57.00 and gave the stock a "neutral" rating in a report on Tuesday, June 4th. Finally, Scotiabank raised their target price 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 equities research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat, Black Hills currently has a consensus rating of "Hold" and an average target price of $58.00.

About Black Hills

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.