Eagle Global Advisors LLC Takes $1.15 Million Position in Black Hills Corporation $BKH

Eagle Global Advisors LLC bought a new position in shares of Black Hills Corporation (NYSE:BKH) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 18,740 shares of the utilities provider’s stock, valued at approximately $1,154,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Black Hills by 7.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,798 shares of the utilities provider’s stock valued at $2,596,000 after purchasing an additional 2,906 shares during the last quarter. NewEdge Advisors LLC increased its stake in Black Hills by 83.2% in the 1st quarter. NewEdge Advisors LLC now owns 3,345 shares of the utilities provider’s stock valued at $203,000 after buying an additional 1,519 shares during the period. Jones Financial Companies Lllp raised its position in Black Hills by 37.8% during the 1st quarter. Jones Financial Companies Lllp now owns 3,040 shares of the utilities provider’s stock worth $184,000 after buying an additional 834 shares during the last quarter. United Services Automobile Association acquired a new stake in shares of Black Hills in the 1st quarter worth $255,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Black Hills by 5.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 134,673 shares of the utilities provider’s stock worth $8,168,000 after acquiring an additional 7,332 shares during the period. Institutional investors and hedge funds own 86.71% of the company’s stock.

Black Hills Trading Up 1.9%

Shares of BKH opened at $72.07 on Thursday. Black Hills Corporation has a twelve month low of $54.92 and a twelve month high of $74.02. The company has a current ratio of 0.91, a quick ratio of 0.67 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $5.25 billion, a P/E ratio of 18.20, a PEG ratio of 3.11 and a beta of 0.75. The firm’s 50-day moving average is $70.52 and its two-hundred day moving average is $63.63.

Black Hills (NYSE:BKH) last posted its quarterly earnings results on Thursday, November 6th. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.45. The company had revenue of $430.20 million during the quarter, compared to the consensus estimate of $439.96 million. Black Hills had a net margin of 12.54% and a return on equity of 7.86%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the firm earned $0.35 EPS. On average, research analysts predict that Black Hills Corporation will post 4.12 earnings per share for the current fiscal year.

Black Hills Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 17th were issued a $0.676 dividend. The ex-dividend date of this dividend was Monday, November 17th. This represents a $2.70 annualized dividend and a yield of 3.8%. Black Hills’s dividend payout ratio is 68.18%.

Insider Buying and Selling at Black Hills

In other news, CFO Kimberly F. Nooney sold 14,500 shares of Black Hills stock in a transaction on Monday, November 10th. The stock was sold at an average price of $70.70, for a total transaction of $1,025,150.00. Following the completion of the transaction, the chief financial officer owned 34,621 shares of the company’s stock, valued at $2,447,704.70. The trade was a 29.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.63% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

BKH has been the subject of several analyst reports. Scotiabank raised shares of Black Hills from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $66.00 to $81.00 in a report on Friday, November 7th. Weiss Ratings reissued a “buy (b-)” rating on shares of Black Hills in a research note on Monday, December 29th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $71.00.

Black Hills Company Profile

Black Hills Corporation is a diversified energy company based in Rapid City, South Dakota, that provides electricity and natural gas distribution services to residential, commercial and industrial customers. Through its regulated utility subsidiaries—Black Hills Power, Cheyenne Light & Power, and Black Hills Energy—the company delivers reliable energy across Colorado, Kansas, Montana, Nebraska, South Dakota and Wyoming.

In addition to its distribution operations, Black Hills owns and operates a generation portfolio that includes natural gas–fired plants, coal-fired units, hydroelectric facilities and wind projects.