Burney Co. Buys 4,915 Shares of Black Hills Co. (NYSE:BKH)

Burney Co. increased its position in shares of Black Hills Co. (NYSE:BKH) by 6.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 79,560 shares of the utilities provider’s stock after purchasing an additional 4,915 shares during the quarter. Burney Co. owned 0.12% of Black Hills worth $4,326,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Capital Research Global Investors boosted its position in shares of Black Hills by 17.1% during the 4th quarter. Capital Research Global Investors now owns 3,251,722 shares of the utilities provider’s stock worth $175,430,000 after acquiring an additional 475,768 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Black Hills by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 8,143,567 shares of the utilities provider’s stock valued at $439,345,000 after purchasing an additional 322,271 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Black Hills by 36.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 755,095 shares of the utilities provider’s stock worth $40,737,000 after buying an additional 203,340 shares in the last quarter. Jupiter Asset Management Ltd. lifted its position in shares of Black Hills by 39.7% during the 1st quarter. Jupiter Asset Management Ltd. now owns 483,120 shares of the utilities provider’s stock worth $26,378,000 after buying an additional 137,356 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Black Hills by 54.9% in the second quarter. Assenagon Asset Management S.A. now owns 329,478 shares of the utilities provider’s stock valued at $17,917,000 after buying an additional 116,730 shares in the last quarter. 86.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BKH. Wells Fargo & Company boosted their target price on Black Hills from $61.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Mizuho upped their price objective on shares of Black Hills from $53.00 to $57.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 4th. Scotiabank raised their target price 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. Finally, StockNews.com upgraded shares of Black Hills from a “sell” rating to a “hold” rating in a report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $58.00.

Black Hills Trading Down 0.1 %

NYSE:BKH traded down $0.08 during mid-day trading on Thursday, hitting $58.58. 87,691 shares of the company’s stock were exchanged, compared to its average volume of 482,895. Black Hills Co. has a fifty-two week low of $46.43 and a fifty-two week high of $59.82. The company has a current ratio of 0.73, a quick ratio of 0.61 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $4.04 billion, a P/E ratio of 14.36 and a beta of 0.68. The company has a 50 day simple moving average of $56.69 and a 200-day simple moving average of $54.81.

Black Hills (NYSE:BKH) last issued its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.33 EPS for the quarter, topping analysts’ consensus estimates 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 8.28%. Black Hills’s revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.35 earnings per share. As a group, research analysts expect that Black Hills Co. will post 3.92 earnings per share for the current year.

Black Hills Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Monday, August 19th will be given a $0.65 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.44%. 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.