Louisiana State Employees Retirement System lifted its stake in shares of Black Hills Co. (NYSE:BKH – Free Report) by 12.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 19,500 shares of the utilities provider’s stock after acquiring an additional 2,200 shares during the period. Louisiana State Employees Retirement System’s holdings in Black Hills were worth $1,175,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Black Hills during the 1st quarter worth $31,000. GPS Wealth Strategies Group LLC bought a new stake in Black Hills in the first quarter worth $35,000. Belpointe Asset Management LLC lifted its stake in Black Hills by 60.6% in the first quarter. Belpointe Asset Management LLC now owns 652 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 246 shares during the last quarter. Bartlett & Co. LLC bought a new stake in Black Hills in the second quarter worth $48,000. Finally, Harbor Investment Advisory LLC lifted its stake in Black Hills by 39.3% in the second quarter. Harbor Investment Advisory LLC now owns 889 shares of the utilities provider’s stock worth $54,000 after purchasing an additional 251 shares during the last quarter. 86.64% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several brokerages have recently commented on BKH. Wells Fargo & Company lowered their price objective on shares of Black Hills from $66.00 to $62.00 and set an “equal weight” rating for the company in a research note on Friday, August 4th. StockNews.com began coverage on shares of Black Hills in a research note on Saturday, August 19th. They set a “sell” rating for the company. Royal Bank of Canada lowered their price objective on shares of Black Hills from $68.00 to $61.00 and set a “sector perform” rating for the company in a research note on Wednesday, September 6th. Mizuho decreased their price target on shares of Black Hills from $56.00 to $53.00 and set an “underperform” rating for the company in a research note on Friday, September 22nd. Finally, TheStreet downgraded shares of Black Hills from a “b” rating to a “c+” rating in a research note on Tuesday, September 5th. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $61.67.
Black Hills Stock Performance
Black Hills stock opened at $48.15 on Thursday. The company’s 50-day moving average price is $55.17 and its 200-day moving average price is $59.94. Black Hills Co. has a twelve month low of $46.43 and a twelve month high of $73.98. The company has a quick ratio of 0.68, a current ratio of 0.82 and a debt-to-equity ratio of 1.24. The company has a market cap of $3.23 billion, a PE ratio of 12.91, a price-to-earnings-growth ratio of 5.84 and a beta of 0.61.
Black Hills (NYSE:BKH – Get Free Report) last released its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.03). The company had revenue of $411.30 million during the quarter, compared to analysts’ expectations of $552.13 million. Black Hills had a net margin of 9.46% and a return on equity of 7.85%. Black Hills’s quarterly revenue was down 12.9% on a year-over-year basis. During the same period last year, the firm earned $0.52 earnings per share. On average, equities research analysts forecast that Black Hills Co. will post 3.73 EPS for the current fiscal year.
Black Hills Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were paid a $0.625 dividend. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.19%. Black Hills’s payout ratio is currently 67.02%.
Black Hills Profile
Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. It operates in two segments, Electric Utilities and Gas Utilities. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 220,000 electric utility customers in Colorado, Montana, South Dakota, and Wyoming; and owns and operates 1,482 megawatts of generation capacity and 9,024 miles of electric transmission and distribution lines.
Further Reading
- Five stocks we like better than Black Hills
- What Are the FAANG Stocks and Are They Good Investments?
- Institutions Are Buying Under Appreciated Consumer Staples Now
- Retail Stocks Investing, Explained
- 3 Stocks For the Resurgent Energy Rally
- How to Buy Cheap Stocks Step by Step
- Zscaler: A Leader in Cybersecurity Soars with Strong Earnings
Want to see what other hedge funds are holding BKH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Black Hills Co. (NYSE:BKH – Free Report).
Receive News & Ratings for Black Hills Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Black Hills and related companies with MarketBeat.com's FREE daily email newsletter.
