4,770 Shares in Black Hills Co. (NYSE:BKH) Acquired by Intech Investment Management LLC

Intech Investment Management LLC purchased a new stake in shares of Black Hills Co. (NYSE:BKH) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,770 shares of the utilities provider’s stock, valued at approximately $259,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in BKH. First Eagle Investment Management LLC lifted its holdings in shares of Black Hills by 11.8% in the second quarter. First Eagle Investment Management LLC now owns 310,315 shares of the utilities provider’s stock valued at $16,875,000 after purchasing an additional 32,675 shares in the last quarter. Seven Eight Capital LP acquired a new position in shares of Black Hills in the second quarter valued at approximately $330,000. Hsbc Holdings PLC grew its position in shares of Black Hills by 34.4% in the second quarter. Hsbc Holdings PLC now owns 108,024 shares of the utilities provider’s stock valued at $5,854,000 after purchasing an additional 27,677 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of Black Hills by 5.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 18,230 shares of the utilities provider’s stock valued at $991,000 after purchasing an additional 868 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Black Hills by 8.8% in the second quarter. Dimensional Fund Advisors LP now owns 978,497 shares of the utilities provider’s stock valued at $53,210,000 after purchasing an additional 78,958 shares during the last quarter. 86.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BKH has been the subject of several recent research reports. Mizuho boosted their price target on Black Hills from $53.00 to $57.00 and gave the company a “neutral” rating in a research note on Tuesday, June 4th. Scotiabank increased their price target on Black Hills from $54.00 to $63.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Finally, Wells Fargo & Company increased their price objective on Black Hills from $61.00 to $64.00 and gave the company an “equal weight” rating in a 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. Based on data from MarketBeat, Black Hills has a consensus rating of “Hold” and an average price target of $58.00.

Black Hills Price Performance

Shares of NYSE BKH opened at $61.05 on Friday. Black Hills Co. has a fifty-two week low of $46.43 and a fifty-two week high of $61.96. The stock has a market cap of $4.26 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 4.36 and a beta of 0.68. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.94 and a current ratio of 1.06. The firm’s 50-day simple moving average is $58.94 and its 200 day simple moving average is $56.02.

Black Hills (NYSE:BKH) last announced its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.33 earnings per share 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 quarter last year, the firm earned $0.35 EPS. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, research analysts anticipate that Black Hills Co. will post 3.9 earnings per share for the current fiscal year.

Black Hills Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Monday, August 19th were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $2.60 annualized dividend and a dividend yield of 4.26%. Black Hills’s payout ratio is currently 64.04%.

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.