Black Hills Co. (NYSE:BKH) Shares Bought by Allworth Financial LP

Allworth Financial LP grew its position in Black Hills Co. (NYSE:BKH) by 149.7% during the 3rd quarter, Holdings Channel reports. The fund owned 1,980 shares of the utilities provider’s stock after buying an additional 1,187 shares during the quarter. Allworth Financial LP’s holdings in Black Hills were worth $121,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in BKH. Vanguard Group Inc. increased its position in Black Hills by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 8,203,786 shares of the utilities provider’s stock worth $447,927,000 after purchasing an additional 60,219 shares during the period. AQR Capital Management LLC boosted its stake in shares of Black Hills by 31.7% in the second quarter. AQR Capital Management LLC now owns 1,147,939 shares of the utilities provider’s stock valued at $62,425,000 after buying an additional 275,994 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Black Hills by 8.8% during the second quarter. Dimensional Fund Advisors LP now owns 978,497 shares of the utilities provider’s stock worth $53,210,000 after acquiring an additional 78,958 shares during the period. Bank of New York Mellon Corp raised its position in Black Hills by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 949,278 shares of the utilities provider’s stock worth $51,622,000 after acquiring an additional 3,544 shares in the last quarter. Finally, Jupiter Asset Management Ltd. lifted its holdings in Black Hills by 39.7% in the first quarter. Jupiter Asset Management Ltd. now owns 483,120 shares of the utilities provider’s stock valued at $26,378,000 after acquiring an additional 137,356 shares during the period. 86.71% of the stock is currently owned by institutional investors and hedge funds.

Black Hills Trading Down 0.6 %

Shares of BKH stock opened at $59.19 on Friday. 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. The business has a fifty day simple moving average of $60.12 and a 200-day simple moving average of $57.19. The stock has a market cap of $4.13 billion, a P/E ratio of 14.65, a P/E/G ratio of 4.19 and a beta of 0.69.

Black Hills (NYSE:BKH) last announced its earnings results on Wednesday, July 31st. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The company had revenue of $402.60 million during the quarter, compared to analysts’ expectations of $498.00 million. Black Hills had a net margin of 12.96% and a return on equity of 8.21%. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.35 earnings per share. On average, analysts forecast that Black Hills Co. will post 3.9 earnings per share for the current fiscal year.

Black Hills Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Monday, November 18th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.60 annualized dividend and a dividend yield of 4.39%. Black Hills’s dividend payout ratio is currently 64.36%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of Black Hills from $61.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Scotiabank upped their target price 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 given a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $58.00.

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.