Black Hills (NYSE:BKH) Sets New 12-Month High – Still a Buy?

Shares of Black Hills Co. (NYSE:BKH) reached a new 52-week high on Friday . The stock traded as high as $64.20 and last traded at $64.11, with a volume of 12656 shares. The stock had previously closed at $63.29.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Wells Fargo & Company increased their price target on Black Hills from $61.00 to $64.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Scotiabank increased their target price on Black Hills from $54.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $60.25.

Black Hills Trading Up 1.6 %

The stock has a market cap of $4.60 billion, a price-to-earnings ratio of 17.29, a P/E/G ratio of 4.57 and a beta of 0.69. The business has a 50-day simple moving average of $60.81 and a two-hundred day simple moving average of $58.02. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.83 and a current ratio of 1.12.

Black Hills Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Monday, November 18th will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend is Monday, November 18th. Black Hills’s dividend payout ratio (DPR) is currently 69.89%.

Hedge Funds Weigh In On Black Hills

Several hedge funds have recently modified their holdings of BKH. Zimmer Partners LP bought a new position in Black Hills in the third quarter valued at approximately $96,374,000. AQR Capital Management LLC boosted its holdings in shares of Black Hills by 31.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,147,939 shares of the utilities provider’s stock valued at $62,425,000 after buying an additional 275,994 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Black Hills by 54.5% in the second quarter. Victory Capital Management Inc. now owns 481,415 shares of the utilities provider’s stock valued at $26,179,000 after buying an additional 169,827 shares in the last quarter. Invenomic Capital Management LP acquired a new position in Black Hills during the third quarter worth $8,260,000. Finally, Assenagon Asset Management S.A. raised its position in Black Hills by 54.9% during the second quarter. Assenagon Asset Management S.A. now owns 329,478 shares of the utilities provider’s stock worth $17,917,000 after acquiring an additional 116,730 shares in the last quarter. Institutional investors own 86.71% of the company’s stock.

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.