6,062 Shares in Black Hills Co. (NYSE:BKH) Purchased by Seven Eight Capital LP

Seven Eight Capital LP acquired a new stake in Black Hills Co. (NYSE:BKH) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 6,062 shares of the utilities provider’s stock, valued at approximately $330,000.

Other hedge funds also recently made changes to their positions in the company. Rise Advisors LLC acquired a new position in shares of Black Hills during the 1st quarter worth approximately $31,000. Pathway Financial Advisers LLC bought a new position in Black Hills during the first quarter worth $31,000. Sunbelt Securities Inc. acquired a new position in shares of Black Hills in the first quarter valued at $33,000. Riverview Trust Co bought a new position in shares of Black Hills in the first quarter valued at about $38,000. Finally, Hexagon Capital Partners LLC lifted its stake in shares of Black Hills by 77.2% during the 1st quarter. Hexagon Capital Partners LLC now owns 732 shares of the utilities provider’s stock worth $40,000 after buying an additional 319 shares during the last quarter. 86.71% of the stock is owned by institutional investors and hedge funds.

Black Hills Stock Performance

NYSE BKH opened at $60.68 on Monday. Black Hills Co. has a 12-month low of $46.43 and a 12-month high of $61.89. The firm has a 50-day moving average price of $58.65 and a two-hundred day moving average price of $55.77. The company has a market capitalization of $4.18 billion, a P/E ratio of 14.95 and a beta of 0.68. 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 issued its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.04. Black Hills had a return on equity of 8.21% and a net margin of 12.96%. The business had revenue of $402.60 million during the quarter, compared to analysts’ expectations of $498.00 million. During the same period in the previous year, the company posted $0.35 earnings per share. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. Analysts anticipate that Black Hills Co. will post 3.92 earnings per share for the current year.

Black Hills Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Monday, August 19th were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date of this dividend was Monday, August 19th. Black Hills’s payout ratio is currently 64.04%.

Analyst Upgrades and Downgrades

BKH has been the topic of a number of research reports. Wells Fargo & Company upped their price target on shares of Black Hills from $61.00 to $64.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Mizuho upped their target price on Black Hills from $53.00 to $57.00 and gave the company a “neutral” rating in a research report on Tuesday, June 4th. Finally, Scotiabank lifted their price target on Black Hills from $54.00 to $63.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat.com, Black Hills has a consensus rating of “Hold” and a consensus 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.