SeaCrest Wealth Management LLC Makes New Investment in Black Hills Co. (NYSE:BKH)

SeaCrest Wealth Management LLC purchased a new stake in shares of Black Hills Co. (NYSE:BKH) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,609 shares of the utilities provider’s stock, valued at approximately $221,000.

Other institutional investors have also modified their holdings of the company. Pathway Financial Advisers LLC bought a new position in Black Hills in the 1st quarter worth about $31,000. Sunbelt Securities Inc. bought a new position in Black Hills in the 1st quarter worth approximately $33,000. Riverview Trust Co acquired a new stake in Black Hills in the 1st quarter valued at approximately $38,000. Hexagon Capital Partners LLC raised its stake in Black Hills by 77.2% during the 1st quarter. Hexagon Capital Partners LLC now owns 732 shares of the utilities provider’s stock valued at $40,000 after acquiring an additional 319 shares in the last quarter. Finally, Quarry LP boosted its position in Black Hills by 158.0% during the 2nd quarter. Quarry LP now owns 841 shares of the utilities provider’s stock worth $46,000 after acquiring an additional 515 shares during the period. Institutional investors own 86.71% of the company’s stock.

Black Hills Trading Down 0.2 %

Shares of BKH stock opened at $61.74 on Friday. The stock has a 50-day simple moving average of $59.63 and a 200 day simple moving average of $56.78. The stock has a market capitalization of $4.26 billion, a P/E ratio of 15.21, a P/E/G ratio of 4.19 and a beta of 0.69. Black Hills Co. has a fifty-two week low of $47.49 and a fifty-two week high of $62.20. The company has a quick ratio of 0.94, a current ratio of 1.06 and a debt-to-equity ratio of 1.23.

Black Hills (NYSE:BKH) last posted its quarterly earnings data 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 company had revenue of $402.60 million during the quarter, compared to analyst estimates of $498.00 million. During the same quarter last year, the firm posted $0.35 EPS. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. On average, sell-side analysts expect 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. Shareholders of record on Monday, August 19th were issued a $0.65 dividend. The ex-dividend date was Monday, August 19th. This represents a $2.60 annualized dividend and a dividend yield of 4.21%. Black Hills’s dividend payout ratio is currently 64.04%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wells Fargo & Company raised their price target on Black Hills from $61.00 to $64.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Scotiabank boosted their price target on shares of Black Hills from $54.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat.com, Black Hills currently has an average rating of “Hold” and an average price target of $58.00.

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.