CWA Asset Management Group LLC Takes Position in Black Hills Co. (NYSE:BKH)

CWA Asset Management Group LLC purchased a new position in shares of Black Hills Co. (NYSE:BKH) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 29,560 shares of the utilities provider’s stock, valued at approximately $1,807,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pathway Financial Advisers LLC acquired a new position in Black Hills during the first quarter worth about $31,000. Blue Trust Inc. increased its stake in shares of Black Hills by 84.9% during the 3rd quarter. Blue Trust Inc. now owns 577 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 265 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Black Hills during the 3rd quarter worth approximately $45,000. Quarry LP lifted its stake in Black Hills by 158.0% in the 2nd quarter. Quarry LP now owns 841 shares of the utilities provider’s stock valued at $46,000 after buying an additional 515 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. grew its holdings in Black Hills by 972.3% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 890 shares of the utilities provider’s stock valued at $48,000 after buying an additional 807 shares during the last quarter. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

Black Hills Stock Performance

NYSE BKH opened at $60.78 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.94 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $4.24 billion, a PE ratio of 16.34, a price-to-earnings-growth ratio of 4.36 and a beta of 0.69. The business’s 50-day moving average price is $60.19 and its 200 day moving average price is $57.49. Black Hills Co. has a twelve month low of $48.27 and a twelve month high of $62.20.

Black Hills (NYSE:BKH) last announced its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.12). Black Hills had a return on equity of 7.51% and a net margin of 12.00%. The company had revenue of $401.60 million for the quarter. On average, research analysts predict that Black Hills Co. will post 3.91 earnings per share for the current year.

Black Hills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Monday, November 18th will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.60 annualized dividend and a dividend yield of 4.28%. Black Hills’s dividend payout ratio is presently 69.89%.

Analyst Ratings Changes

BKH has been the subject of a number of analyst reports. Scotiabank boosted their price target on Black Hills from $54.00 to $63.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Wells Fargo & Company lifted 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. 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 a consensus rating of “Hold” and a consensus price target of $58.00.

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.