6,616 Shares of Black Hills Corporation $BKH Bought by Vise Technologies Inc.

Vise Technologies Inc. acquired a new position in shares of Black Hills Corporation (NYSE:BKH) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,616 shares of the utilities provider’s stock, valued at approximately $464,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Choreo LLC grew its stake in Black Hills by 4.0% in the third quarter. Choreo LLC now owns 11,256 shares of the utilities provider’s stock valued at $789,000 after acquiring an additional 438 shares during the period. John Boyer Inc. acquired a new position in shares of Black Hills during the third quarter worth approximately $119,000. Miller Howard Investments Inc. NY lifted its holdings in shares of Black Hills by 0.8% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 17,259 shares of the utilities provider’s stock worth $1,210,000 after purchasing an additional 140 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Black Hills by 31.6% in the 3rd quarter. Signaturefd LLC now owns 5,558 shares of the utilities provider’s stock worth $390,000 after purchasing an additional 1,335 shares in the last quarter. Finally, Citizens Financial Group Inc. RI grew its position in Black Hills by 27.4% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 4,332 shares of the utilities provider’s stock valued at $304,000 after purchasing an additional 932 shares during the period. 86.71% of the stock is owned by institutional investors.

Black Hills Stock Up 0.5%

Shares of NYSE:BKH opened at $87.43 on Friday. The business’s 50 day moving average is $76.26 and its 200 day moving average is $73.91. Black Hills Corporation has a 12-month low of $67.25 and a 12-month high of $88.37. The stock has a market cap of $6.69 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 3.45 and a beta of 0.64. The company has a quick ratio of 0.34, a current ratio of 0.47 and a debt-to-equity ratio of 0.99.

Black Hills (NYSE:BKH) last released its quarterly earnings results on Wednesday, November 4th. The utilities provider reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. Black Hills had a return on equity of 8.17% and a net margin of 13.49%. The business had revenue of $466.10 million during the quarter, compared to analyst estimates of $483.04 million. During the same period in the prior year, the firm posted $0.45 EPS. Black Hills’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, sell-side analysts forecast that Black Hills Corporation will post 4.34 earnings per share for the current fiscal year.

Black Hills Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, November 17th will be given a dividend of $0.7030 per share. This represents a $2.81 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Tuesday, November 17th. Black Hills’s dividend payout ratio (DPR) is presently 67.55%.

Analyst Ratings Changes

A number of analysts have commented on BKH shares. Jefferies Financial Group assumed coverage on shares of Black Hills in a research note on Wednesday, October 14th. They set a “buy” rating and a $87.00 price target for the company. BMO Capital Markets raised their price objective on shares of Black Hills from $83.00 to $86.00 and gave the company an “outperform” rating in a research note on Thursday, October 8th. Scotiabank lifted their price objective on shares of Black Hills from $84.00 to $95.00 and gave the company a “sector outperform” rating in a report on Friday, November 6th. Wall Street Zen raised shares of Black Hills from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Bank of America upped their target price on shares of Black Hills from $87.00 to $97.00 and gave the stock a “buy” rating in a report on Monday, September 21st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $85.00.

Black Hills Profile

Black Hills Corporation is an energy company headquartered in Rapid City, South Dakota. Through its utility operations, it provides electric and natural gas service to communities across Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming. The company’s businesses include generating, transmitting and distributing electricity, as well as distributing natural gas. Its energy operations use a mix of resources, including natural gas, coal and renewable sources, to support electric service.