Hsbc Holdings PLC Purchases 27,677 Shares of Black Hills Co. (NYSE:BKH)

Hsbc Holdings PLC increased its position in shares of Black Hills Co. (NYSE:BKH) by 34.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 108,024 shares of the utilities provider’s stock after purchasing an additional 27,677 shares during the period. Hsbc Holdings PLC owned approximately 0.16% of Black Hills worth $5,854,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BKH. BNP Paribas Financial Markets boosted its position in shares of Black Hills by 108.0% in the first quarter. BNP Paribas Financial Markets now owns 101,774 shares of the utilities provider’s stock valued at $5,557,000 after acquiring an additional 52,837 shares during the period. Nebula Research & Development LLC acquired a new position in shares of Black Hills during the 4th quarter worth approximately $1,564,000. Leeward Investments LLC MA grew its position in shares of Black Hills by 5.6% during the 2nd quarter. Leeward Investments LLC MA now owns 170,148 shares of the utilities provider’s stock worth $9,253,000 after purchasing an additional 9,048 shares in the last quarter. Jupiter Asset Management Ltd. increased its holdings in shares of Black Hills by 39.7% during the first quarter. Jupiter Asset Management Ltd. now owns 483,120 shares of the utilities provider’s stock worth $26,378,000 after purchasing an additional 137,356 shares during the period. Finally, Lesa Sroufe & Co acquired a new stake in shares of Black Hills in the first quarter valued at approximately $2,351,000. 86.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Black Hills Trading Up 1.4 %

Shares of BKH opened at $61.55 on Tuesday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.94 and a current ratio of 1.06. Black Hills Co. has a 52-week low of $46.43 and a 52-week high of $61.89. The firm has a market cap of $4.24 billion, a price-to-earnings ratio of 15.16 and a beta of 0.68. The business’s fifty day moving average is $58.73 and its 200-day moving average is $55.83.

Black Hills (NYSE:BKH) last released its earnings results on Wednesday, July 31st. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. Black Hills had a return on equity of 8.21% and a net margin of 12.96%. The firm had revenue of $402.60 million for the quarter, compared to analysts’ expectations of $498.00 million. During the same quarter in the previous year, the business posted $0.35 earnings per share. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. Equities analysts anticipate that Black Hills Co. will post 3.92 EPS for the current fiscal year.

Black Hills Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders 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 dividend on an annualized basis and a dividend yield of 4.22%. Black Hills’s payout ratio is presently 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.