IFM Investors Pty Ltd Has $553,000 Stock Position in Black Hills Co. (NYSE:BKH)

IFM Investors Pty Ltd decreased its stake in shares of Black Hills Co. (NYSE:BKH) by 5.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,053 shares of the utilities provider’s stock after selling 478 shares during the period. IFM Investors Pty Ltd’s holdings in Black Hills were worth $553,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BKH. Sunbelt Securities Inc. acquired a new position in Black Hills during the 1st quarter worth about $33,000. Hexagon Capital Partners LLC lifted its position in Black Hills by 77.2% during the 1st quarter. Hexagon Capital Partners LLC now owns 732 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 319 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Black Hills by 135.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,935 shares of the utilities provider’s stock valued at $706,000 after purchasing an additional 7,451 shares during the period. State of Michigan Retirement System lifted its position in Black Hills by 2.5% during the 1st quarter. State of Michigan Retirement System now owns 16,700 shares of the utilities provider’s stock valued at $912,000 after purchasing an additional 400 shares during the period. Finally, Uncommon Cents Investing LLC lifted its position in Black Hills by 2.0% during the 1st quarter. Uncommon Cents Investing LLC now owns 10,710 shares of the utilities provider’s stock valued at $585,000 after purchasing an additional 210 shares during the period. Institutional investors and hedge funds own 86.71% of the company’s stock.

Wall Street Analysts Forecast Growth

BKH has been the topic of a number of research reports. Wells Fargo & Company upped their target price on shares of Black Hills from $61.00 to $64.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Scotiabank upped their target price on shares of Black Hills from $54.00 to $63.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $58.00.

Black Hills Stock Performance

Shares of NYSE:BKH opened at $60.35 on Tuesday. The company has a market capitalization of $4.16 billion, a price-to-earnings ratio of 14.86, a P/E/G ratio of 4.19 and a beta of 0.69. The firm’s 50 day simple moving average is $60.01 and its 200 day simple moving average is $57.11. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.06 and a quick ratio of 0.94. Black Hills Co. has a fifty-two week low of $47.49 and a fifty-two week high of $62.20.

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

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.