Blue Trust Inc. Purchases 265 Shares of Black Hills Co. (NYSE:BKH)

Blue Trust Inc. boosted its position in Black Hills Co. (NYSE:BKH) by 84.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 577 shares of the utilities provider’s stock after purchasing an additional 265 shares during the quarter. Blue Trust Inc.’s holdings in Black Hills were worth $35,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in BKH. Pathway Financial Advisers LLC bought a new position in Black Hills in the first quarter worth about $31,000. Quarry LP increased its holdings in shares of Black Hills by 158.0% during the second quarter. Quarry LP now owns 841 shares of the utilities provider’s stock valued at $46,000 after acquiring an additional 515 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Black Hills by 972.3% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 890 shares of the utilities provider’s stock valued at $48,000 after acquiring an additional 807 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Black Hills during the first quarter valued at about $83,000. Finally, Crewe Advisors LLC increased its holdings in shares of Black Hills by 31.9% during the first quarter. Crewe Advisors LLC now owns 1,641 shares of the utilities provider’s stock valued at $90,000 after acquiring an additional 397 shares in the last quarter. 86.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Black Hills Price Performance

Shares of NYSE BKH opened at $57.92 on Friday. The business’s 50 day moving average price is $60.12 and its 200 day moving average price is $57.24. The firm has a market cap of $4.04 billion, a P/E ratio of 14.34, a P/E/G ratio of 4.30 and a beta of 0.69. Black Hills Co. has a 52 week low of $48.27 and a 52 week high of $62.20. 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 (NYSE:BKH) last released its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.33 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $498.00 million. During the same quarter in the prior year, the firm posted $0.35 EPS. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. On average, sell-side analysts expect that Black Hills Co. will post 3.91 earnings per share for the current year.

Black Hills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Monday, November 18th will be given a dividend of $0.65 per share. The ex-dividend date is Monday, November 18th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.49%. Black Hills’s dividend payout ratio (DPR) is 64.36%.

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.