Riverwater Partners LLC Makes New $1.77 Million Investment in Black Hills Co. (NYSE:BKH)

Riverwater Partners LLC acquired a new stake in shares of Black Hills Co. (NYSE:BKH - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 29,168 shares of the utilities provider's stock, valued at approximately $1,765,000.

Other large investors have also modified their holdings of the company. Pathway Financial Advisers LLC purchased a new stake in shares of Black Hills during the first quarter valued at $31,000. Sunbelt Securities Inc. purchased a new stake in Black Hills during the first quarter valued at about $33,000. Blue Trust Inc. lifted its stake in Black Hills by 84.9% during the third quarter. Blue Trust Inc. now owns 577 shares of the utilities provider's stock valued at $35,000 after buying an additional 265 shares in the last quarter. Hexagon Capital Partners LLC boosted its holdings in shares of Black Hills by 77.2% in the first quarter. Hexagon Capital Partners LLC now owns 732 shares of the utilities provider's stock worth $40,000 after buying an additional 319 shares during the period. Finally, Quarry LP increased its position in shares of Black Hills by 158.0% in the second quarter. Quarry LP now owns 841 shares of the utilities provider's stock worth $46,000 after acquiring an additional 515 shares in the last quarter. 86.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

BKH has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on shares of Black Hills from $61.00 to $64.00 and gave the company an "equal weight" rating in a research report on Friday, August 2nd. Scotiabank boosted their target price on shares of 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 analyst has rated the stock with a sell rating and five have assigned a hold rating to the company's stock. According to MarketBeat, Black Hills has an average rating of "Hold" and an average price target of $58.00.

Black Hills Stock Down 1.0 %

BKH traded down $0.61 on Thursday, reaching $60.46. 309,377 shares of the company traded hands, compared to its average volume of 469,221. The company has a market cap of $4.17 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 4.19 and a beta of 0.69. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.06 and a quick ratio of 0.94. The stock's 50 day moving average price is $59.85 and its 200-day moving average price is $56.94. Black Hills Co. has a 52-week low of $47.49 and a 52-week high of $62.20.

Black Hills (NYSE:BKH - Get Free Report) last posted 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 business had revenue of $402.60 million for the quarter, compared to analysts' expectations of $498.00 million. During the same period in the previous year, the company posted $0.35 EPS. Black Hills's revenue was down 2.1% on a year-over-year basis. On average, sell-side analysts expect that Black Hills Co. will post 3.9 EPS for the current fiscal year.

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.