Choreo LLC Invests $639,000 in Black Hills Co. (NYSE:BKH)

Choreo LLC bought a new position in shares of Black Hills Co. (NYSE:BKH) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 11,804 shares of the utilities provider’s stock, valued at approximately $639,000.

Several other large investors have also made changes to their positions in BKH. Capital Research Global Investors raised its stake in shares of Black Hills by 17.1% during the 4th quarter. Capital Research Global Investors now owns 3,251,722 shares of the utilities provider’s stock worth $175,430,000 after buying an additional 475,768 shares during the period. Vanguard Group Inc. raised its stake in shares of Black Hills by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 8,143,567 shares of the utilities provider’s stock worth $439,345,000 after buying an additional 322,271 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Black Hills by 36.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 755,095 shares of the utilities provider’s stock worth $40,737,000 after buying an additional 203,340 shares during the period. Victory Capital Management Inc. raised its stake in shares of Black Hills by 54.5% during the 2nd quarter. Victory Capital Management Inc. now owns 481,415 shares of the utilities provider’s stock worth $26,179,000 after buying an additional 169,827 shares during the period. Finally, Jupiter Asset Management Ltd. raised its stake in Black Hills by 39.7% in the 1st quarter. Jupiter Asset Management Ltd. now owns 483,120 shares of the utilities provider’s stock valued at $26,378,000 after purchasing an additional 137,356 shares during the last quarter. 86.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on the company. Mizuho increased 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. Scotiabank increased their price objective on Black Hills from $54.00 to $63.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Finally, Wells Fargo & Company increased their price objective on Black Hills from $61.00 to $64.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, Black Hills presently has a consensus rating of “Hold” and a consensus target price of $58.00.

Black Hills Stock Up 2.0 %

Shares of NYSE:BKH opened at $60.55 on Friday. 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 moving average of $58.06 and a two-hundred day moving average of $55.43. The stock has a market cap of $4.22 billion, a P/E ratio of 14.91 and a beta of 0.68. Black Hills Co. has a 52-week low of $46.43 and a 52-week high of $60.56.

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 the consensus estimate 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 return on equity of 8.21% and a net margin of 12.96%. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.35 EPS. On average, research analysts expect that Black Hills Co. will post 3.92 earnings per share for the current year.

Black Hills Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Monday, August 19th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date of this dividend was Monday, August 19th. Black Hills’s dividend payout ratio is presently 64.04%.

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.