Peregrine Capital Management LLC Grows Stock Holdings in Black Hills Corp (NYSE:BKH)

Peregrine Capital Management LLC increased its stake in shares of Black Hills Corp (NYSE:BKH) by 70.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 85,126 shares of the utilities provider’s stock after buying an additional 35,198 shares during the quarter. Peregrine Capital Management LLC owned about 0.14% of Black Hills worth $4,823,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Balentine LLC purchased a new stake in Black Hills in the 1st quarter valued at approximately $28,000. Citizens Financial Group Inc RI purchased a new stake in Black Hills in the 1st quarter valued at approximately $29,000. Regal Wealth Group Inc. purchased a new stake in Black Hills in the 2nd quarter valued at approximately $30,000. Crewe Advisors LLC boosted its holdings in Black Hills by 41.8% in the 2nd quarter. Crewe Advisors LLC now owns 1,133 shares of the utilities provider’s stock valued at $64,000 after purchasing an additional 334 shares in the last quarter. Finally, FinTrust Capital Advisors LLC boosted its holdings in Black Hills by 2,428.6% in the 1st quarter. FinTrust Capital Advisors LLC now owns 1,770 shares of the utilities provider’s stock valued at $113,000 after purchasing an additional 1,700 shares in the last quarter. 85.71% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Black Hills stock opened at $57.86 on Friday. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.68 and a quick ratio of 0.55. Black Hills Corp has a 1 year low of $48.07 and a 1 year high of $87.12. The company has a market capitalization of $3.63 billion, a P/E ratio of 18.85, a P/E/G ratio of 2.85 and a beta of 0.30. The business has a 50 day moving average price of $58.07 and a 200 day moving average price of $66.58.

Black Hills (NYSE:BKH) last issued its quarterly earnings data on Monday, May 4th. The utilities provider reported $1.59 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.62 by ($0.03). Black Hills had a return on equity of 8.41% and a net margin of 11.27%. The company had revenue of $537.10 million for the quarter, compared to analyst estimates of $633.11 million. During the same quarter in the prior year, the firm earned $1.73 earnings per share. As a group, research analysts expect that Black Hills Corp will post 3.53 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be given a dividend of $0.535 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $2.14 annualized dividend and a dividend yield of 3.70%. Black Hills’s dividend payout ratio is currently 60.62%.

BKH has been the topic of a number of analyst reports. Mizuho lowered their price objective on Black Hills from $77.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, July 2nd. Wells Fargo & Co lowered their price objective on Black Hills from $88.00 to $66.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 6th. Siebert Williams Shank raised Black Hills from a “hold” rating to a “buy” rating and lifted their price objective for the company from $64.00 to $75.00 in a report on Wednesday, May 6th. Credit Suisse Group upgraded shares of Black Hills from a “neutral” rating to an “outperform” rating and set a $70.00 price target for the company in a research report on Tuesday, May 19th. Finally, Bank of America downgraded shares of Black Hills from a “buy” rating to a “neutral” rating and set a $71.00 price target for the company. in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $72.75.

In related news, Director Tony A. Jensen acquired 3,421 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average cost of $58.43 per share, for a total transaction of $199,889.03. Following the transaction, the director now directly owns 6,106 shares of the company’s stock, valued at approximately $356,773.58. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.00% of the company’s stock.

Black Hills Company Profile

Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. It operates through Electric Utilities, Gas Utilities, Power Generation, and Mining segments. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 212,000 electric customers in Colorado, Montana, South Dakota, and Wyoming, as well as provides electrical system construction services to large industrial customers.

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Institutional Ownership by Quarter for Black Hills (NYSE:BKH)

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