Meritage Portfolio Management Sells 2,436 Shares of Black Hills Co. (NYSE:BKH)

Meritage Portfolio Management reduced its holdings in shares of Black Hills Co. (NYSE:BKH) by 4.3% during the third quarter, HoldingsChannel.com reports. The fund owned 54,309 shares of the utilities provider’s stock after selling 2,436 shares during the quarter. Meritage Portfolio Management’s holdings in Black Hills were worth $3,319,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Pathway Financial Advisers LLC purchased a new stake in shares of Black Hills during the 1st quarter valued at $31,000. Blue Trust Inc. grew its position in Black Hills by 84.9% during the third quarter. Blue Trust Inc. now owns 577 shares of the utilities provider’s stock valued at $35,000 after buying an additional 265 shares during the period. Capital Performance Advisors LLP purchased a new stake in Black Hills during the third quarter worth about $45,000. Quarry LP raised its position in Black Hills by 158.0% in the second quarter. Quarry LP now owns 841 shares of the utilities provider’s stock worth $46,000 after acquiring an additional 515 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. boosted its stake in Black Hills by 972.3% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 890 shares of the utilities provider’s stock valued at $48,000 after acquiring an additional 807 shares during the last quarter. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Wall Street Analyst Weigh In

BKH has been the topic of a number of research reports. Scotiabank lifted their price target on shares of 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 upped their price target on 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $58.00.

Black Hills Stock Up 2.0 %

BKH opened at $60.78 on Monday. Black Hills Co. has a 12 month low of $48.27 and a 12 month high of $62.20. The company has a market cap 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 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 50 day moving average of $60.19 and a 200 day moving average of $57.51.

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

Black Hills Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Monday, November 18th will be given a $0.65 dividend. The ex-dividend date is Monday, November 18th. This represents a $2.60 dividend on an annualized basis and a yield of 4.28%. Black Hills’s payout ratio is 69.89%.

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.