Bessemer Group Inc. Boosts Stake in Black Hills Corporation $BKH

Bessemer Group Inc. grew its stake in Black Hills Corporation (NYSE:BKH) by 6.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 232,948 shares of the utilities provider’s stock after buying an additional 14,130 shares during the quarter. Bessemer Group Inc. owned approximately 0.32% of Black Hills worth $13,069,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. IMA Advisory Services Inc. purchased a new stake in Black Hills in the 1st quarter worth $30,000. Clearstead Trust LLC purchased a new stake in shares of Black Hills during the first quarter worth about $30,000. GAMMA Investing LLC grew its position in shares of Black Hills by 59.2% during the first quarter. GAMMA Investing LLC now owns 605 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 225 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Black Hills during the second quarter worth about $43,000. Finally, Hilltop National Bank purchased a new stake in shares of Black Hills during the second quarter worth about $50,000. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BKH. Bank of America raised shares of Black Hills from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $57.00 to $64.00 in a report on Wednesday, August 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Black Hills in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Black Hills presently has a consensus rating of “Hold” and an average target price of $66.00.

Black Hills Price Performance

BKH opened at $65.35 on Wednesday. The stock has a market cap of $4.76 billion, a P/E ratio of 16.46, a PEG ratio of 3.05 and a beta of 0.73. Black Hills Corporation has a 52-week low of $54.92 and a 52-week high of $66.26. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 1.06. The business has a fifty day moving average of $60.80 and a 200 day moving average of $59.21.

Black Hills (NYSE:BKH) last announced its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.38. Black Hills had a return on equity of 7.81% and a net margin of 12.68%.The firm had revenue of $439.00 million during the quarter, compared to analyst estimates of $412.69 million. During the same quarter in the previous year, the business earned $0.33 earnings per share. Black Hills’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Black Hills Corporation will post 4.12 EPS 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.