Code Waechter LLC Invests $403,000 in Black Hills Co. (NYSE:BKH)

by · The Cerbat Gem

Code Waechter LLC bought a new stake in Black Hills Co. (NYSE:BKH – Free Report) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 6,587 shares of the utilities provider’s stock, valued at approximately $403,000.

A number of other hedge funds have also recently modified their holdings of BKH. Signaturefd LLC grew its holdings in shares of Black Hills by 4.1% during the second quarter. Signaturefd LLC now owns 4,736 shares of the utilities provider’s stock worth $258,000 after purchasing an additional 188 shares during the last quarter. Uncommon Cents Investing LLC lifted its stake in Black Hills by 2.0% in the first quarter. Uncommon Cents Investing LLC now owns 10,710 shares of the utilities provider’s stock valued at $585,000 after buying an additional 210 shares during the last quarter. Retirement Systems of Alabama boosted its holdings in shares of Black Hills by 0.3% in the first quarter. Retirement Systems of Alabama now owns 85,382 shares of the utilities provider’s stock valued at $4,662,000 after acquiring an additional 225 shares during the period. Lesa Sroufe & Co grew its position in shares of Black Hills by 0.5% during the second quarter. Lesa Sroufe & Co now owns 43,294 shares of the utilities provider’s stock worth $2,354,000 after acquiring an additional 231 shares during the last quarter. Finally, BancFirst Trust & Investment Management increased its holdings in shares of Black Hills by 5.7% in the 2nd quarter. BancFirst Trust & Investment Management now owns 4,326 shares of the utilities provider’s stock valued at $234,000 after acquiring an additional 233 shares during the period. 86.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Scotiabank increased their price target on shares of Black Hills from $54.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. 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 report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $58.00.

Read Our Latest Research Report on BKH

Black Hills Stock Performance

Shares of NYSE:BKH traded up $0.50 during midday trading on Friday, hitting $59.31. The stock had a trading volume of 285,066 shares, compared to its average volume of 462,560. The company has a market capitalization of $4.14 billion, a PE ratio of 14.68, a P/E/G ratio of 4.19 and a beta of 0.69. Black Hills Co. has a 1 year low of $47.49 and a 1 year high of $61.96. The stock has a 50 day moving average price of $59.19 and a two-hundred day moving average price of $56.52. The company has a current ratio of 1.06, a quick ratio of 0.94 and a debt-to-equity ratio of 1.23.

Black Hills (NYSE:BKH – Get Free Report) last issued 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. 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 the consensus estimate of $498.00 million. During the same period in the prior year, the business posted $0.35 EPS. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. As a group, equities analysts predict that Black Hills Co. will post 3.9 earnings per share for the current fiscal year.

Black Hills Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Monday, August 19th were issued a $0.65 dividend. 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 4.38%. Black Hills’s dividend payout ratio (DPR) is 64.36%.

Black Hills Profile

(Free Report)

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.

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