Point72 Asia Singapore Pte. Ltd. Increases Stock Position in Black Hills Co. (NYSE:BKH)

Point72 Asia Singapore Pte. Ltd. increased its holdings in Black Hills Co. (NYSE:BKH) by 972.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 890 shares of the utilities provider’s stock after acquiring an additional 807 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Black Hills were worth $48,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BKH. Rise Advisors LLC acquired a new position in Black Hills in the first quarter valued at $31,000. Pathway Financial Advisers LLC purchased a new position in shares of Black Hills during the first quarter worth about $31,000. Sunbelt Securities Inc. acquired a new position in Black Hills in the 1st quarter valued at about $33,000. Riverview Trust Co purchased a new stake in Black Hills during the 1st quarter valued at approximately $38,000. Finally, Hexagon Capital Partners LLC lifted its position in Black Hills by 77.2% during the 1st quarter. Hexagon Capital Partners LLC now owns 732 shares of the utilities provider’s stock worth $40,000 after acquiring an additional 319 shares during the period. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on BKH shares. Scotiabank boosted their target price on Black Hills from $54.00 to $63.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Wells Fargo & Company lifted their price objective on shares of Black Hills from $61.00 to $64.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently 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 company has a debt-to-equity ratio of 1.23, a current ratio of 1.06 and a quick ratio of 0.94. Black Hills Co. has a 12 month low of $46.60 and a 12 month high of $61.96. The stock has a market capitalization of $4.13 billion, a P/E ratio of 14.77, a P/E/G ratio of 4.36 and a beta of 0.69. The business has a 50 day simple moving average of $59.16 and a 200-day simple moving average of $56.28.

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

Black Hills Announces Dividend

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