Quarry LP Grows Stock Position in Black Hills Co. (NYSE:BKH)

Quarry LP increased its holdings in Black Hills Co. (NYSE:BKH) by 158.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 841 shares of the utilities provider’s stock after buying an additional 515 shares during the period. Quarry LP’s holdings in Black Hills were worth $46,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in BKH. Hsbc Holdings PLC boosted its position in shares of Black Hills by 346.2% in the 4th quarter. Hsbc Holdings PLC now owns 40,140 shares of the utilities provider’s stock worth $2,164,000 after buying an additional 31,145 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Black Hills by 53.8% in the 4th quarter. Parallel Advisors LLC now owns 752 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 263 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in Black Hills by 9.1% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 213,290 shares of the utilities provider’s stock valued at $11,507,000 after purchasing an additional 17,750 shares in the last quarter. Nebula Research & Development LLC purchased a new position in Black Hills in the 4th quarter valued at about $1,564,000. Finally, Krane Funds Advisors LLC purchased a new position in Black Hills in the 4th quarter valued at about $459,000. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on BKH. Wells Fargo & Company upped their target price 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 price objective on shares of Black Hills from $54.00 to $63.00 and gave the company a “sector perform” rating in a research note 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. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $58.00.

Black Hills Stock Down 0.1 %

BKH opened at $59.95 on Friday. The firm has a 50 day moving average price of $59.16 and a 200 day moving average price of $56.28. The company has a market cap 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. Black Hills Co. has a 1 year low of $46.60 and a 1 year high of $61.96. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.94 and a current ratio of 1.06.

Black Hills (NYSE:BKH) last posted its earnings results on Wednesday, July 31st. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The firm had revenue of $402.60 million during the quarter, compared to the consensus estimate of $498.00 million. Black Hills had a net margin of 12.96% and a return on equity of 8.21%. The company’s revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.35 EPS. Sell-side analysts expect that Black Hills Co. will post 3.9 earnings per share for the current year.

Black Hills Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Monday, August 19th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date was Monday, August 19th. Black Hills’s dividend payout ratio is presently 64.04%.

Black Hills Company 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.