Seven Eight Capital LP Invests $330,000 in Black Hills Co. (NYSE:BKH)

Seven Eight Capital LP purchased a new stake in Black Hills Co. (NYSE:BKH) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 6,062 shares of the utilities provider’s stock, valued at approximately $330,000.

A number of other large investors have also made changes to their positions in the company. Rise Advisors LLC acquired a new position in Black Hills in the first quarter valued at about $31,000. Pathway Financial Advisers LLC bought a new stake in Black Hills during the 1st quarter worth approximately $31,000. Sunbelt Securities Inc. acquired a new stake in Black Hills during the 1st quarter worth approximately $33,000. Riverview Trust Co acquired a new position in shares of Black Hills in the first quarter valued at approximately $38,000. Finally, Hexagon Capital Partners LLC increased 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 acquiring an additional 319 shares in the last quarter. Institutional investors own 86.71% of the company’s stock.

Black Hills Trading Down 0.3 %

Shares of NYSE:BKH opened at $60.68 on Monday. The company’s 50-day moving average price is $58.65 and its two-hundred day moving average price is $55.77. Black Hills Co. has a one year low of $46.43 and a one year high of $61.89. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.06 and a quick ratio of 0.94. The stock has a market capitalization of $4.18 billion, a PE ratio of 14.95 and a beta of 0.68.

Black Hills (NYSE:BKH) last released 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 for 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 was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.35 earnings per share. On average, equities analysts forecast that Black Hills Co. will post 3.92 EPS for the current fiscal year.

Black Hills Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Monday, August 19th were paid a $0.65 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $2.60 annualized dividend and a dividend yield of 4.28%. Black Hills’s dividend payout ratio is presently 64.04%.

Analysts Set New Price Targets

BKH has been the topic of several research reports. Scotiabank boosted their price objective on shares of Black Hills from $54.00 to $63.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Wells Fargo & Company upped 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. Finally, Mizuho lifted their target price on Black Hills from $53.00 to $57.00 and gave the company a “neutral” rating in a research report on Tuesday, June 4th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Black Hills currently has an average rating of “Hold” and a consensus target price of $58.00.

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.