Black Hills Co. (NYSE:BKH) Shares Bought by Creative Financial Designs Inc. ADV

Creative Financial Designs Inc. ADV grew its position in Black Hills Co. (NYSE:BKH) by 5.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,752 shares of the utilities provider’s stock after purchasing an additional 763 shares during the period. Creative Financial Designs Inc. ADV’s holdings in Black Hills were worth $902,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised 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 worth $706,000 after buying an additional 7,451 shares during the last quarter. State of Michigan Retirement System grew 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 worth $912,000 after purchasing an additional 400 shares during the period. Commonwealth Equity Services LLC raised its stake in shares of Black Hills by 5.0% during the 1st quarter. Commonwealth Equity Services LLC now owns 14,761 shares of the utilities provider’s stock valued at $806,000 after buying an additional 698 shares during the last quarter. Retirement Systems of Alabama lifted its holdings in shares of Black Hills by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 85,382 shares of the utilities provider’s stock valued at $4,662,000 after buying an additional 225 shares during the period. Finally, Mission Wealth Management LP purchased a new stake in shares of Black Hills in the first quarter worth about $308,000. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Wells Fargo & Company boosted their price target on Black Hills from $61.00 to $64.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Scotiabank lifted their target price on shares of Black Hills from $54.00 to $63.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. 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 currently has an average rating of “Hold” and a consensus price target of $58.00.

Black Hills Stock Performance

Shares of BKH stock opened at $57.92 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. Black Hills Co. has a 12-month low of $48.27 and a 12-month high of $62.20. The business’s 50 day moving average is $60.12 and its two-hundred day moving average is $57.24. The company has a market capitalization of $4.04 billion, a P/E ratio of 14.34, a P/E/G ratio of 4.30 and a beta of 0.69.

Black Hills (NYSE:BKH) last announced its earnings results 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. The firm had revenue of $402.60 million for the quarter, compared to analyst estimates of $498.00 million. Black Hills had a return on equity of 8.21% and a net margin of 12.96%. The business’s revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.35 EPS. Analysts expect that Black Hills Co. will post 3.91 EPS for the current fiscal year.

Black Hills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Monday, November 18th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 4.49%. The ex-dividend date is Monday, November 18th. Black Hills’s payout ratio is 64.36%.

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.