Black Hills Corporation $BKH Stock Holdings Increased by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd boosted its holdings in shares of Black Hills Corporation (NYSE:BKH) by 87.8% in the 2nd quarter, Holdings Channel reports. The firm owned 36,787 shares of the utilities provider’s stock after buying an additional 17,197 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Black Hills were worth $2,064,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BKH. Nuveen LLC bought a new position in shares of Black Hills in the first quarter valued at $43,690,000. McElhenny Sheffield Capital Management LLC acquired a new position in shares of Black Hills in the 2nd quarter worth $13,464,000. Cubist Systematic Strategies LLC grew its holdings in shares of Black Hills by 551.4% in the 1st quarter. Cubist Systematic Strategies LLC now owns 242,668 shares of the utilities provider’s stock worth $14,718,000 after acquiring an additional 205,414 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Black Hills by 294.8% during the second quarter. SG Americas Securities LLC now owns 262,011 shares of the utilities provider’s stock worth $14,699,000 after purchasing an additional 195,640 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in shares of Black Hills by 625.9% during the second quarter. International Assets Investment Management LLC now owns 220,354 shares of the utilities provider’s stock valued at $12,362,000 after purchasing an additional 190,000 shares during the last quarter. Institutional investors and hedge funds own 86.71% of the company’s stock.

Black Hills Stock Down 0.9%

NYSE:BKH opened at $69.63 on Thursday. The firm has a market capitalization of $5.07 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 2.95 and a beta of 0.76. Black Hills Corporation has a 1-year low of $54.92 and a 1-year high of $72.22. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 1.06. The business’s fifty day moving average price is $63.43 and its 200 day moving average price is $60.05.

Black Hills (NYSE:BKH) last announced its quarterly earnings data on Thursday, November 6th. The utilities provider reported $0.45 EPS for the quarter, hitting analysts’ consensus estimates of $0.45. The firm had revenue of $430.20 million during the quarter, compared to analyst estimates of $439.96 million. Black Hills had a return on equity of 7.81% and a net margin of 12.68%.The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the company posted $0.35 EPS. On average, sell-side analysts forecast that Black Hills Corporation will post 4.12 earnings per share for the current fiscal year.

Black Hills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be given a dividend of $0.676 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $2.70 dividend on an annualized basis and a yield of 3.9%. Black Hills’s payout ratio is presently 68.18%.

Insiders Place Their Bets

In other Black Hills news, CFO Kimberly F. Nooney sold 14,500 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $70.70, for a total value of $1,025,150.00. Following the completion of the sale, the chief financial officer owned 34,621 shares in the company, valued at $2,447,704.70. This represents a 29.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.63% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on BKH shares. Weiss Ratings upgraded Black Hills from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, November 13th. Scotiabank raised shares of Black Hills from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $66.00 to $81.00 in a research note on Friday, November 7th. Finally, Bank of America raised shares of Black Hills from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $57.00 to $64.00 in a research report on Wednesday, August 20th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $71.00.

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.