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 third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 29,560 shares of the utilities provider’s stock, valued at approximately $1,807,000.

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

Black Hills Stock Performance

Shares of BKH stock 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 stock has a 50 day simple moving average of $60.19 and a 200-day simple moving average of $57.49. The company has a market cap of $4.24 billion, a price-to-earnings ratio of 16.34, a price-to-earnings-growth ratio of 4.36 and a beta of 0.69. Black Hills Co. has a 12-month low of $48.27 and a 12-month high of $62.20.

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

Black Hills Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Monday, November 18th will be given 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 yield of 4.28%. Black Hills’s payout ratio is currently 69.89%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BKH shares. Wells Fargo & Company increased their price target on Black Hills from $61.00 to $64.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Scotiabank upped their price objective on shares of Black Hills from $54.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat.com, Black Hills presently has an average 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.