AdvisorNet Financial Inc Has $1.32 Million Position in Black Hills Co. (NYSE:BKH)

AdvisorNet Financial Inc lifted its holdings in shares of Black Hills Co. (NYSE:BKH) by 1.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,749 shares of the utilities provider’s stock after purchasing an additional 234 shares during the quarter. AdvisorNet Financial Inc’s holdings in Black Hills were worth $1,319,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Proficio Capital Partners LLC acquired a new stake in shares of Black Hills during the fourth quarter worth about $1,113,000. WCM Investment Management LLC raised its position in shares of Black Hills by 200.7% during the fourth quarter. WCM Investment Management LLC now owns 70,783 shares of the utilities provider’s stock worth $4,133,000 after purchasing an additional 47,244 shares during the period. Atria Investments Inc raised its position in shares of Black Hills by 43.1% during the fourth quarter. Atria Investments Inc now owns 8,407 shares of the utilities provider’s stock worth $492,000 after purchasing an additional 2,533 shares during the period. Van ECK Associates Corp raised its position in shares of Black Hills by 10.6% during the fourth quarter. Van ECK Associates Corp now owns 20,862 shares of the utilities provider’s stock worth $1,221,000 after purchasing an additional 2,007 shares during the period. Finally, Wells Fargo & Company MN raised its position in shares of Black Hills by 17.5% during the fourth quarter. Wells Fargo & Company MN now owns 65,199 shares of the utilities provider’s stock worth $3,815,000 after purchasing an additional 9,725 shares during the period. Institutional investors and hedge funds own 86.71% of the company’s stock.

Black Hills Stock Up 0.7%

NYSE:BKH opened at $58.51 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.77 and a current ratio of 0.97. The company has a market cap of $4.24 billion, a PE ratio of 14.93, a PEG ratio of 2.75 and a beta of 0.74. Black Hills Co. has a 52-week low of $51.66 and a 52-week high of $65.59. The stock has a 50-day simple moving average of $59.33 and a 200 day simple moving average of $59.74.

Black Hills (NYSE:BKH) last posted its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $1.87 earnings per share for the quarter, missing analysts’ consensus estimates of $1.92 by ($0.05). The company had revenue of $805.20 million during the quarter, compared to the consensus estimate of $729.73 million. Black Hills had a net margin of 12.84% and a return on equity of 7.82%. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.87 earnings per share. On average, sell-side analysts expect that Black Hills Co. will post 4.12 EPS for the current fiscal year.

Black Hills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Friday, May 16th will be paid a $0.676 dividend. The ex-dividend date is Friday, May 16th. This represents a $2.70 dividend on an annualized basis and a yield of 4.62%. Black Hills’s dividend payout ratio is 68.88%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Scotiabank decreased their price objective on Black Hills from $67.00 to $66.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. BMO Capital Markets assumed coverage on Black Hills in a report on Tuesday, May 13th. They set an “outperform” rating and a $68.00 price objective for the company.

Black Hills Company 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.