Pathway Financial Advisers LLC Has $2.19 Million Stake in Black Hills Co. (NYSE:BKH)

Pathway Financial Advisers LLC lifted its stake in Black Hills Co. (NYSE:BKH) by 6,074.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,809 shares of the utilities provider’s stock after purchasing an additional 35,229 shares during the period. Pathway Financial Advisers LLC owned 0.05% of Black Hills worth $2,189,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its position in shares of Black Hills by 108.0% during the first quarter. BNP Paribas Financial Markets now owns 101,774 shares of the utilities provider’s stock worth $5,557,000 after purchasing an additional 52,837 shares in the last quarter. Leeward Investments LLC MA increased its stake in Black Hills by 5.6% in the 2nd quarter. Leeward Investments LLC MA now owns 170,148 shares of the utilities provider’s stock valued at $9,253,000 after buying an additional 9,048 shares during the last quarter. Jupiter Asset Management Ltd. increased its stake in Black Hills by 39.7% in the 1st quarter. Jupiter Asset Management Ltd. now owns 483,120 shares of the utilities provider’s stock valued at $26,378,000 after buying an additional 137,356 shares during the last quarter. Lesa Sroufe & Co acquired a new position in shares of Black Hills during the 1st quarter worth about $2,351,000. Finally, Canada Pension Plan Investment Board increased its stake in shares of Black Hills by 161.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 54,400 shares of the utilities provider’s stock worth $2,958,000 after purchasing an additional 33,600 shares during the last quarter. 86.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BKH has been the subject of a number of recent research reports. Wells Fargo & Company upped their price target on shares of Black Hills from $61.00 to $64.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Scotiabank upped their price target on shares of Black Hills from $54.00 to $63.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $58.00.

Black Hills Stock Performance

Black Hills stock opened at $59.93 on Wednesday. The firm’s 50 day simple moving average is $60.06 and its 200 day simple moving average is $57.16. The company has a current ratio of 1.06, a quick ratio of 0.94 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $4.18 billion, a PE ratio of 14.83, a price-to-earnings-growth ratio of 4.19 and a beta of 0.69. Black Hills Co. has a 1-year low of $47.49 and a 1-year high of $62.20.

Black Hills (NYSE:BKH) last announced its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. Black Hills had a net margin of 12.96% and a return on equity of 8.21%. The business had revenue of $402.60 million during the quarter, compared to analysts’ expectations of $498.00 million. During the same quarter in the prior year, the company posted $0.35 EPS. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, analysts expect that Black Hills Co. will post 3.9 earnings per share for the current fiscal year.

Black Hills Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Monday, November 18th will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 4.34%. 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.