Quest Partners LLC Invests $313,000 in Black Hills Co. (NYSE:BKH)

Quest Partners LLC acquired a new position in Black Hills Co. (NYSE:BKH) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,759 shares of the utilities provider’s stock, valued at approximately $313,000.

Several other large investors also recently made changes to their positions in the business. Rise Advisors LLC acquired a new position in Black Hills during the 1st quarter worth $31,000. Pathway Financial Advisers LLC bought a new position in shares of Black Hills in the 1st quarter worth about $31,000. Sunbelt Securities Inc. bought a new position in shares of Black Hills in the 1st quarter worth about $33,000. Riverview Trust Co bought a new position in shares of Black Hills in the 1st quarter worth about $38,000. Finally, Hexagon Capital Partners LLC lifted its position in shares of Black Hills by 77.2% in the 1st quarter. Hexagon Capital Partners LLC now owns 732 shares of the utilities provider’s stock worth $40,000 after buying an additional 319 shares during the last quarter. Institutional investors and hedge funds own 86.71% of the company’s stock.

Black Hills Stock Performance

Shares of BKH opened at $60.55 on Friday. The stock has a market capitalization of $4.22 billion, a P/E ratio of 14.91 and a beta of 0.68. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.06 and a quick ratio of 0.94. The firm’s 50 day moving average is $58.06 and its 200-day moving average is $55.43. Black Hills Co. has a 12-month low of $46.43 and a 12-month high of $60.56.

Black Hills (NYSE:BKH) last announced its earnings results on Wednesday, July 31st. The utilities provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.29 by $0.04. The business had revenue of $402.60 million during the quarter, compared to the consensus estimate of $498.00 million. Black Hills had a return on equity of 8.21% and a net margin of 12.96%. Black Hills’s revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.35 earnings per share. Equities research analysts anticipate that Black Hills Co. will post 3.92 EPS for the current fiscal year.

Black Hills Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Monday, August 19th were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.29%. Black Hills’s dividend payout ratio is currently 64.04%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on BKH shares. Wells Fargo & Company raised their price target on shares of Black Hills from $61.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Scotiabank boosted their price target 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. Finally, Mizuho boosted their price target 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. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $58.00.

Black Hills 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.