First Eagle Investment Management LLC Has $16.88 Million Holdings in Black Hills Co. (NYSE:BKH)

First Eagle Investment Management LLC boosted its holdings in shares of Black Hills Co. (NYSE:BKH) by 11.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 310,315 shares of the utilities provider’s stock after purchasing an additional 32,675 shares during the period. First Eagle Investment Management LLC owned 0.45% of Black Hills worth $16,875,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Rise Advisors LLC bought a new position in shares of Black Hills in the first quarter valued at about $31,000. Pathway Financial Advisers LLC acquired a new stake in Black Hills in the 1st quarter valued at about $31,000. Sunbelt Securities Inc. bought a new position in shares of Black Hills in the first quarter worth about $33,000. Riverview Trust Co bought a new position in shares of Black Hills in the first quarter worth about $38,000. Finally, Hexagon Capital Partners LLC lifted its position in shares of Black Hills by 77.2% during the first quarter. Hexagon Capital Partners LLC now owns 732 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 319 shares in the last quarter. Institutional investors own 86.71% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Scotiabank boosted their price objective 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. Wells Fargo & Company lifted their target price 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. Finally, Mizuho upped their price target on Black Hills from $53.00 to $57.00 and gave the company a “neutral” rating in a research note on Tuesday, June 4th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat.com, Black Hills presently has a consensus rating of “Hold” and a consensus price target of $58.00.

Black Hills Price Performance

Shares of BKH opened at $60.87 on Thursday. The stock has a 50 day simple moving average of $58.36 and a 200 day simple moving average of $55.59. Black Hills Co. has a 52-week low of $46.43 and a 52-week high of $61.89. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.94 and a current ratio of 1.06. The firm has a market capitalization of $4.20 billion, a PE ratio of 15.07 and a beta of 0.68.

Black Hills (NYSE:BKH) last released its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. Black Hills had a net margin of 12.96% and a return on equity of 8.21%. The company had revenue of $402.60 million during the quarter, compared to analysts’ expectations of $498.00 million. During the same quarter in the prior year, the company earned $0.35 earnings per share. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. Sell-side analysts predict that Black Hills Co. will post 3.92 EPS for the current fiscal year.

Black Hills Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders 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 yield of 4.27%. The ex-dividend date of this dividend was Monday, August 19th. Black Hills’s dividend payout ratio (DPR) 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.