Point72 Asia Singapore Pte. Ltd. Has $48,000 Holdings in Black Hills Co. (NYSE:BKH)

Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Black Hills Co. (NYSE:BKH) by 972.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 890 shares of the utilities provider’s stock after acquiring an additional 807 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Black Hills were worth $48,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. BNP Paribas Financial Markets grew its holdings in shares of Black Hills by 108.0% during the first quarter. BNP Paribas Financial Markets now owns 101,774 shares of the utilities provider’s stock worth $5,557,000 after buying an additional 52,837 shares in the last quarter. Nebula Research & Development LLC bought a new position in shares of Black Hills during the 4th quarter worth approximately $1,564,000. Leeward Investments LLC MA grew its stake in shares of Black Hills by 5.6% during the 2nd quarter. Leeward Investments LLC MA now owns 170,148 shares of the utilities provider’s stock worth $9,253,000 after acquiring an additional 9,048 shares in the last quarter. Jupiter Asset Management Ltd. raised its holdings in shares of Black Hills by 39.7% in the first quarter. Jupiter Asset Management Ltd. now owns 483,120 shares of the utilities provider’s stock valued at $26,378,000 after purchasing an additional 137,356 shares during the last quarter. Finally, Lesa Sroufe & Co acquired a new position in Black Hills during the first quarter worth $2,351,000. 86.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Scotiabank lifted their price target on shares of Black Hills from $54.00 to $63.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Mizuho upped their target price on Black Hills from $53.00 to $57.00 and gave the stock a “neutral” rating in a report on Tuesday, June 4th. Finally, Wells Fargo & Company raised their price target on Black Hills from $61.00 to $64.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat.com, Black Hills currently has a consensus rating of “Hold” and an average price target of $58.00.

Black Hills Trading Up 0.1 %

Shares of NYSE:BKH opened at $61.12 on Tuesday. Black Hills Co. has a 52-week low of $46.43 and a 52-week high of $61.96. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.94 and a current ratio of 1.06. The company has a market capitalization of $4.21 billion, a P/E ratio of 15.05, a price-to-earnings-growth ratio of 4.36 and a beta of 0.68. The company has a 50-day simple moving average of $59.00 and a 200 day simple moving average of $56.10.

Black Hills (NYSE:BKH) last released its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. Black Hills had a return on equity of 8.21% and a net margin of 12.96%. The company had revenue of $402.60 million during the quarter, compared to analysts’ expectations of $498.00 million. During the same period last year, the firm posted $0.35 earnings per share. The business’s revenue was down 2.1% on a year-over-year basis. Sell-side analysts forecast that Black Hills Co. will post 3.9 earnings per share for the current year.

Black Hills Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Monday, August 19th were given 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 yield of 4.25%. Black Hills’s dividend payout ratio (DPR) is 64.04%.

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.