Credit Suisse AG boosted its holdings in Black Hills Co. (NYSE:BKH – Free Report) by 4.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 50,118 shares of the utilities provider’s stock after buying an additional 2,353 shares during the quarter. Credit Suisse AG owned 0.08% of Black Hills worth $3,162,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can grew its position in Black Hills by 11.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 36,590 shares of the utilities provider’s stock worth $2,896,000 after purchasing an additional 3,657 shares in the last quarter. Yousif Capital Management LLC grew its position in Black Hills by 4.4% during the 1st quarter. Yousif Capital Management LLC now owns 34,426 shares of the utilities provider’s stock worth $2,651,000 after purchasing an additional 1,466 shares in the last quarter. Raymond James Trust N.A. grew its position in Black Hills by 8.2% during the 1st quarter. Raymond James Trust N.A. now owns 8,190 shares of the utilities provider’s stock worth $631,000 after purchasing an additional 618 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Black Hills by 7.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 748,590 shares of the utilities provider’s stock worth $57,656,000 after purchasing an additional 50,038 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its position in Black Hills by 1.1% during the 1st quarter. Allianz Asset Management GmbH now owns 13,420 shares of the utilities provider’s stock worth $1,034,000 after purchasing an additional 151 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on BKH shares. Mizuho lowered their price target on shares of Black Hills from $60.00 to $56.00 in a report on Wednesday, August 9th. Wells Fargo & Company lowered their price target on shares of Black Hills from $66.00 to $62.00 and set an “equal weight” rating on the stock in a report on Friday, August 4th. Finally, StockNews.com initiated coverage on shares of Black Hills in a report on Saturday, August 19th. They set a “sell” rating on the stock. Three investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $66.29.
Black Hills Stock Down 0.5 %
BKH stock opened at $54.70 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.68 and a debt-to-equity ratio of 1.24. Black Hills Co. has a 1 year low of $53.88 and a 1 year high of $79.15. The company has a fifty day simple moving average of $58.32 and a 200 day simple moving average of $61.41. The firm has a market cap of $3.67 billion, a PE ratio of 14.66, a PEG ratio of 6.76 and a beta of 0.58.
Black Hills (NYSE:BKH – Get Free Report) last released its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.03). Black Hills had a net margin of 9.46% and a return on equity of 7.85%. The business had revenue of $411.30 million during the quarter, compared to analyst estimates of $552.13 million. During the same period in the previous year, the firm posted $0.52 EPS. The firm’s revenue for the quarter was down 12.9% on a year-over-year basis. Sell-side analysts anticipate that Black Hills Co. will post 3.73 EPS for the current fiscal year.
Black Hills Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 18th were given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date of this dividend was Thursday, August 17th. Black Hills’s dividend payout ratio is 67.02%.
About Black Hills
Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. It operates in two segments, Electric Utilities and Gas Utilities. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 220,000 electric utility customers in Colorado, Montana, South Dakota, and Wyoming; and owns and operates 1,482 megawatts of generation capacity and 9,024 miles of electric transmission and distribution lines.
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