State of New Jersey Common Pension Fund D Has $1.87 Million Position in Black Hills Co. (NYSE:BKH)

State of New Jersey Common Pension Fund D lowered its stake in shares of Black Hills Co. (NYSE:BKH) by 36.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,315 shares of the utilities provider’s stock after selling 19,729 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Black Hills were worth $1,866,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Rise Advisors LLC acquired a new stake in shares of Black Hills in the 1st quarter valued at $31,000. Pathway Financial Advisers LLC acquired a new stake in shares of Black Hills in the 1st quarter valued at $31,000. Sunbelt Securities Inc. acquired a new stake in shares of Black Hills in the 1st quarter valued at $33,000. Riverview Trust Co acquired a new stake in shares of Black Hills in the 1st quarter valued at $38,000. Finally, Hexagon Capital Partners LLC boosted its holdings in shares of Black Hills by 77.2% in the 1st quarter. Hexagon Capital Partners LLC now owns 732 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 319 shares in the last quarter. Institutional investors and hedge funds own 86.71% of the company’s stock.

Black Hills Stock Down 0.3 %

Shares of NYSE:BKH opened at $60.68 on Monday. The firm has a market cap of $4.18 billion, a P/E ratio of 14.95 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 12-month low of $46.43 and a 12-month high of $61.89. The business has a fifty day simple moving average of $58.65 and a 200 day simple moving average of $55.77.

Black Hills (NYSE:BKH) last announced its earnings results on Wednesday, July 31st. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.04. The business had revenue of $402.60 million during the quarter, compared to analyst estimates of $498.00 million. Black Hills had a return on equity of 8.21% and a net margin of 12.96%. Black Hills’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period last year, the company earned $0.35 EPS. Analysts predict 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. Shareholders of record on Monday, August 19th were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $2.60 dividend on an annualized basis and a yield of 4.28%. Black Hills’s payout ratio is currently 64.04%.

Analysts Set New Price Targets

BKH has been the topic of a number of research analyst reports. Scotiabank raised their target price on Black Hills from $54.00 to $63.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Mizuho raised their target price on Black Hills from $53.00 to $57.00 and gave the company a “neutral” rating in a report on Tuesday, June 4th. Finally, Wells Fargo & Company raised their target price on Black Hills from $61.00 to $64.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $58.00.

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.