Pathway Financial Advisers LLC Grows Position in Black Hills Co. (NYSE:BKH)

Pathway Financial Advisers LLC boosted its position in Black Hills Co. (NYSE:BKH - Free Report) by 6,074.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,809 shares of the utilities provider's stock after purchasing an additional 35,229 shares during the period. Pathway Financial Advisers LLC owned about 0.05% of Black Hills worth $2,189,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its stake in shares of Black Hills by 31.7% during the 2nd quarter. AQR Capital Management LLC now owns 1,147,939 shares of the utilities provider's stock worth $62,425,000 after buying an additional 275,994 shares in the last quarter. Victory Capital Management Inc. raised its position in Black Hills by 54.5% in the second quarter. Victory Capital Management Inc. now owns 481,415 shares of the utilities provider's stock worth $26,179,000 after acquiring an additional 169,827 shares in the last quarter. Jupiter Asset Management Ltd. lifted its holdings in Black Hills by 39.7% in the first 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. Assenagon Asset Management S.A. boosted its position in shares of Black Hills by 54.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 329,478 shares of the utilities provider's stock worth $17,917,000 after purchasing an additional 116,730 shares in the last quarter. Finally, Mackenzie Financial Corp grew its stake in shares of Black Hills by 324.7% during the 2nd quarter. Mackenzie Financial Corp now owns 127,243 shares of the utilities provider's stock worth $6,919,000 after purchasing an additional 97,285 shares during the period. Institutional investors and hedge funds own 86.71% of the company's stock.

Black Hills Price Performance

Shares of NYSE BKH traded down $0.55 on Friday, hitting $59.87. The company's stock had a trading volume of 315,766 shares, compared to its average volume of 468,479. The stock has a 50 day moving average of $59.95 and a 200-day moving average of $57.02. The company has a market capitalization of $4.13 billion, a price-to-earnings ratio of 14.75, a price-to-earnings-growth ratio of 4.19 and a beta of 0.69. Black Hills Co. has a 12-month low of $47.49 and a 12-month high of $62.20. 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 posted its earnings results on Wednesday, July 31st. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.04. Black Hills had a return on equity of 8.21% and a net margin of 12.96%. The firm had revenue of $402.60 million for the quarter, compared to analyst estimates of $498.00 million. During the same quarter in the prior year, the company earned $0.35 EPS. Black Hills's revenue was down 2.1% on a year-over-year basis. As a group, research analysts predict that Black Hills Co. will post 3.9 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Wells Fargo & Company boosted their price objective 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 boosted 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 research analyst has rated the stock with a sell rating and five have given a hold rating to the company's stock. Based on data from MarketBeat, Black Hills currently has a consensus rating of "Hold" and a consensus 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.