Renaissance Technologies LLC Has $1.32 Million Holdings in Black Hills Co. (NYSE:BKH)

Renaissance Technologies LLC lessened its stake in Black Hills Co. (NYSE:BKH) by 66.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,300 shares of the utilities provider’s stock after selling 48,200 shares during the quarter. Renaissance Technologies LLC’s holdings in Black Hills were worth $1,321,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its holdings in shares of Black Hills by 108.0% in the 1st quarter. BNP Paribas Financial Markets now owns 101,774 shares of the utilities provider’s stock valued at $5,557,000 after buying an additional 52,837 shares during the last quarter. Nebula Research & Development LLC acquired a new stake in Black Hills during the 4th quarter valued at $1,564,000. Leeward Investments LLC MA lifted its holdings in Black Hills by 5.6% during the 2nd quarter. Leeward Investments LLC MA now owns 170,148 shares of the utilities provider’s stock valued at $9,253,000 after purchasing an additional 9,048 shares during the last quarter. Jupiter Asset Management Ltd. increased its position in Black Hills by 39.7% during the 1st quarter. Jupiter Asset Management Ltd. now owns 483,120 shares of the utilities provider’s stock worth $26,378,000 after buying an additional 137,356 shares during the period. Finally, Lesa Sroufe & Co bought a new position in Black Hills during the 1st quarter worth $2,351,000. Institutional investors and hedge funds own 86.71% of the company’s stock.

Analysts Set New Price Targets

BKH has been the topic of several recent research reports. Wells Fargo & Company increased their price objective 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. Scotiabank increased their price objective on Black Hills from $54.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $58.00.

Black Hills Stock Performance

NYSE:BKH opened at $59.95 on Friday. The firm has a market capitalization of $4.13 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 4.36 and a beta of 0.69. 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 stock’s 50-day simple moving average is $59.16 and its 200 day simple moving average is $56.28. Black Hills Co. has a twelve month low of $46.60 and a twelve month high of $61.96.

Black Hills (NYSE:BKH) last announced its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.33 EPS for the quarter, beating 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 company had revenue of $402.60 million during the quarter, compared to analysts’ expectations of $498.00 million. During the same period in the prior year, the company earned $0.35 EPS. Black Hills’s revenue was down 2.1% compared to the same quarter last year. On average, analysts anticipate that Black Hills Co. will post 3.9 EPS for the current fiscal 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. 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 4.34%. 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.