Black Hills Co. (NYSE:BKH) Stock Holdings Increased by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC grew its position in shares of Black Hills Co. (NYSE:BKH) by 372.1% during the second quarter, HoldingsChannel reports. The institutional investor owned 2,993 shares of the utilities provider’s stock after buying an additional 2,359 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Black Hills were worth $177,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in BKH. Vanguard Group Inc. lifted its stake in Black Hills by 0.7% during the first quarter. Vanguard Group Inc. now owns 8,203,786 shares of the utilities provider’s stock worth $447,927,000 after purchasing an additional 60,219 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of Black Hills by 17.1% during the fourth quarter. Capital Research Global Investors now owns 3,251,722 shares of the utilities provider’s stock worth $175,430,000 after purchasing an additional 475,768 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Black Hills by 8.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 978,497 shares of the utilities provider’s stock worth $53,210,000 after buying an additional 78,958 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Black Hills by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 949,278 shares of the utilities provider’s stock valued at $51,622,000 after buying an additional 3,544 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in shares of Black Hills by 36.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 755,095 shares of the utilities provider’s stock valued at $40,737,000 after buying an additional 203,340 shares during the last quarter. Institutional investors and hedge funds own 86.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BKH. 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. Scotiabank boosted their price objective on Black Hills from $54.00 to $63.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Finally, Wells Fargo & Company increased their target price on Black Hills from $61.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $58.00.

Black Hills Stock Performance

Shares of BKH stock opened at $60.92 on Thursday. The business has a 50 day simple moving average of $58.83 and a 200 day simple moving average of $55.92. 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 firm has a market capitalization of $4.25 billion, a price-to-earnings ratio of 15.00, a price-to-earnings-growth ratio of 4.36 and a beta of 0.68. Black Hills Co. has a 12-month low of $46.43 and a 12-month high of $61.96.

Black Hills (NYSE:BKH) last issued its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The company had revenue of $402.60 million for the quarter, compared to analyst estimates of $498.00 million. Black Hills had a return on equity of 8.21% and a net margin of 12.96%. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period last year, the company earned $0.35 earnings per share. On average, equities research analysts anticipate that Black Hills Co. will post 3.9 EPS for the current year.

Black Hills Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Monday, August 19th were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend was Monday, August 19th. Black Hills’s dividend payout ratio (DPR) is presently 64.04%.

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.