Mackenzie Financial Corp Purchases 97,285 Shares of Black Hills Co. (NYSE:BKH)

Mackenzie Financial Corp grew its position in Black Hills Co. (NYSE:BKH) by 324.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 127,243 shares of the utilities provider’s stock after acquiring an additional 97,285 shares during the quarter. Mackenzie Financial Corp owned 0.18% of Black Hills worth $6,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of BKH. Cambridge Investment Research Advisors Inc. increased its position in Black Hills by 12.8% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 46,140 shares of the utilities provider’s stock worth $2,489,000 after purchasing an additional 5,253 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Black Hills by 346.2% during the 4th quarter. Hsbc Holdings PLC now owns 40,140 shares of the utilities provider’s stock valued at $2,164,000 after buying an additional 31,145 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of Black Hills by 53.8% in the 4th quarter. Parallel Advisors LLC now owns 752 shares of the utilities provider’s stock valued at $41,000 after acquiring an additional 263 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Black Hills by 7.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 725,151 shares of the utilities provider’s stock worth $39,122,000 after acquiring an additional 48,711 shares in the last quarter. Finally, CWA Asset Management Group LLC bought a new stake in Black Hills during the fourth quarter worth approximately $510,000. 86.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BKH. Mizuho raised their price objective on Black Hills from $53.00 to $57.00 and gave the company a “neutral” rating in a research note on Tuesday, June 4th. Wells Fargo & Company raised 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. Finally, Scotiabank boosted their price objective on shares of 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 equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $58.00.

Black Hills Price Performance

BKH opened at $61.12 on Tuesday. The business has a fifty day moving average of $59.00 and a 200 day moving average of $56.10. The stock has a market cap of $4.21 billion, a P/E ratio of 15.05, a PEG ratio of 4.36 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 Co. has a 52-week low of $46.43 and a 52-week high of $61.96.

Black Hills (NYSE:BKH) last issued 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. The firm had revenue of $402.60 million during the quarter, compared to analyst estimates of $498.00 million. Black Hills had a net margin of 12.96% and a return on equity of 8.21%. The business’s revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.35 earnings per share. As a group, sell-side analysts anticipate that Black Hills Co. will post 3.9 EPS for the current year.

Black Hills Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Monday, August 19th were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 4.25%. The ex-dividend date of this dividend was Monday, August 19th. Black Hills’s dividend payout ratio is presently 64.04%.

Black Hills 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.