Creative Financial Designs Inc. ADV Increases Holdings in Black Hills Co. (NYSE:BKH)

Creative Financial Designs Inc. ADV boosted its position in shares of Black Hills Co. (NYSE:BKH) by 5.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,752 shares of the utilities provider’s stock after purchasing an additional 763 shares during the quarter. Creative Financial Designs Inc. ADV’s holdings in Black Hills were worth $902,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC lifted its stake in Black Hills by 31.7% in the second quarter. AQR Capital Management LLC now owns 1,147,939 shares of the utilities provider’s stock worth $62,425,000 after acquiring an additional 275,994 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Black Hills by 54.5% during the second quarter. Victory Capital Management Inc. now owns 481,415 shares of the utilities provider’s stock valued at $26,179,000 after purchasing an additional 169,827 shares in the last quarter. Jupiter Asset Management Ltd. boosted its stake in shares of Black Hills by 39.7% during the first quarter. Jupiter Asset Management Ltd. now owns 483,120 shares of the utilities provider’s stock valued at $26,378,000 after purchasing an additional 137,356 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Black Hills by 54.9% during the second quarter. Assenagon Asset Management S.A. now owns 329,478 shares of the utilities provider’s stock valued at $17,917,000 after buying an additional 116,730 shares during the period. Finally, Mackenzie Financial Corp raised its stake in Black Hills by 324.7% in the second quarter. Mackenzie Financial Corp now owns 127,243 shares of the utilities provider’s stock worth $6,919,000 after buying an additional 97,285 shares in the last quarter. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Scotiabank lifted their price target on Black Hills from $54.00 to $63.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Wells Fargo & Company raised their price objective on Black Hills from $61.00 to $64.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $58.00.

Black Hills Stock Performance

Shares of BKH opened at $57.92 on Friday. 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 cap of $4.04 billion, a PE ratio of 14.34, a P/E/G ratio of 4.30 and a beta of 0.69. Black Hills Co. has a 12 month low of $48.27 and a 12 month high of $62.20. The stock has a fifty day moving average price of $60.12 and a 200-day moving average price of $57.24.

Black Hills (NYSE:BKH) last released its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. Black Hills had a return on equity of 8.21% and a net margin of 12.96%. The company had revenue of $402.60 million during the quarter, compared to analysts’ expectations of $498.00 million. During the same period last year, the business posted $0.35 earnings per share. The firm’s revenue was down 2.1% compared to the same quarter last year. Equities research analysts predict that Black Hills Co. will post 3.91 earnings per share for the current fiscal year.

Black Hills Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Monday, November 18th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 4.49%. The ex-dividend date of this dividend is Monday, November 18th. Black Hills’s dividend payout ratio is presently 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.