Teza Capital Management LLC Purchases Shares of 3,788 Black Hills Corp (NYSE:BKH)

Teza Capital Management LLC purchased a new stake in shares of Black Hills Corp (NYSE:BKH) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 3,788 shares of the utilities provider’s stock, valued at approximately $215,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BKH. Franklin Resources Inc. boosted its stake in Black Hills by 38.5% during the 1st quarter. Franklin Resources Inc. now owns 1,154,949 shares of the utilities provider’s stock valued at $73,951,000 after purchasing an additional 320,841 shares in the last quarter. Pictet Asset Management Ltd. bought a new position in Black Hills during the 1st quarter valued at $11,606,000. First Trust Advisors LP boosted its stake in Black Hills by 26.0% during the 2nd quarter. First Trust Advisors LP now owns 836,319 shares of the utilities provider’s stock valued at $47,386,000 after purchasing an additional 172,753 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Black Hills by 9.1% during the 1st quarter. Alliancebernstein L.P. now owns 1,432,533 shares of the utilities provider’s stock worth $91,725,000 after acquiring an additional 120,058 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Black Hills during the 2nd quarter worth $6,320,000. 85.71% of the stock is owned by hedge funds and other institutional investors.

BKH opened at $55.98 on Wednesday. The stock has a fifty day moving average of $58.99 and a 200-day moving average of $63.63. The firm has a market capitalization of $3.61 billion, a P/E ratio of 17.72, a PEG ratio of 2.83 and a beta of 0.30. Black Hills Corp has a 12-month low of $48.07 and a 12-month high of $87.12. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 1.35.

Black Hills (NYSE:BKH) last announced its quarterly earnings data on Monday, August 3rd. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.03). Black Hills had a return on equity of 8.50% and a net margin of 11.70%. The firm had revenue of $326.90 million for the quarter, compared to analysts’ expectations of $395.88 million. During the same quarter in the prior year, the business posted $0.24 earnings per share. Black Hills’s revenue was down 2.1% on a year-over-year basis. On average, analysts expect that Black Hills Corp will post 3.53 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be issued a dividend of $0.535 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $2.14 annualized dividend and a dividend yield of 3.82%. Black Hills’s dividend payout ratio is 60.62%.

Several research firms have recently weighed in on BKH. Williams Capital reissued a “buy” rating on shares of Black Hills in a research note on Wednesday, May 6th. Credit Suisse Group raised Black Hills from a “neutral” rating to an “outperform” rating and set a $70.00 price objective for the company in a research note on Tuesday, May 19th. Sidoti raised Black Hills from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $66.00 to $69.00 in a research note on Thursday, May 21st. Wells Fargo & Co reduced their price objective on Black Hills from $88.00 to $66.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 6th. Finally, Mizuho reduced their price objective on Black Hills from $77.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, July 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $72.75.

In other news, CEO Linden R. Evans acquired 1,000 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The stock was acquired at an average cost of $57.42 per share, for a total transaction of $57,420.00. Following the completion of the acquisition, the chief executive officer now owns 118,113 shares in the company, valued at $6,782,048.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is currently owned by company insiders.

Black Hills Company Profile

Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. It operates through Electric Utilities, Gas Utilities, Power Generation, and Mining segments. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 212,000 electric customers in Colorado, Montana, South Dakota, and Wyoming, as well as provides electrical system construction services to large industrial customers.

See Also: High-Yield Dividend Stocks

Want to see what other hedge funds are holding BKH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Black Hills Corp (NYSE:BKH).

Institutional Ownership by Quarter for Black Hills (NYSE:BKH)

Receive News & Ratings for Black Hills Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Black Hills and related companies with MarketBeat.com's FREE daily email newsletter.