State of Alaska Department of Revenue Acquires 545 Shares of Black Hills Co. (NYSE:BKH)

State of Alaska Department of Revenue raised its holdings in shares of Black Hills Co. (NYSE:BKH) by 7.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,892 shares of the utilities provider’s stock after buying an additional 545 shares during the quarter. State of Alaska Department of Revenue’s holdings in Black Hills were worth $482,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. AQR Capital Management LLC lifted its position in Black Hills by 31.7% in 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 during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Black Hills by 54.5% in the 2nd quarter. Victory Capital Management Inc. now owns 481,415 shares of the utilities provider’s stock valued at $26,179,000 after purchasing an additional 169,827 shares in the last quarter. Jupiter Asset Management Ltd. boosted its stake in shares of Black Hills by 39.7% in the 1st quarter. Jupiter Asset Management Ltd. now owns 483,120 shares of the utilities provider’s stock valued at $26,378,000 after purchasing an additional 137,356 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings 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 valued at $17,917,000 after purchasing an additional 116,730 shares during the last quarter. Finally, Mackenzie Financial Corp raised its position in Black Hills by 324.7% in 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. 86.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Wells Fargo & Company increased their target price 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 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. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat, Black Hills has an average rating of “Hold” and an average price target of $58.00.

Black Hills Stock Performance

Black Hills stock opened at $60.79 on Friday. The company’s 50-day moving average price is $60.19 and its 200-day moving average price is $57.47. The company has a quick ratio of 0.94, a current ratio of 1.06 and a debt-to-equity ratio of 1.23. The company has a market cap of $4.24 billion, a PE ratio of 15.05, a price-to-earnings-growth ratio of 4.16 and a beta of 0.69. Black Hills Co. has a twelve month low of $48.27 and a twelve month high of $62.20.

Black Hills (NYSE:BKH) last announced its earnings results on Wednesday, November 6th. The utilities provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.12). The company had revenue of $401.60 million during the quarter. Black Hills had a return on equity of 8.21% and a net margin of 12.96%. On average, equities research analysts forecast that Black Hills Co. will post 3.91 EPS for the current fiscal year.

Black Hills Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Monday, November 18th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date of this dividend is Monday, November 18th. Black Hills’s dividend payout ratio (DPR) is 64.36%.

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.