4,920 Shares in Black Hills Corporation $BKH Bought by Vise Technologies Inc.

Vise Technologies Inc. purchased a new stake in Black Hills Corporation (NYSE:BKH) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 4,920 shares of the utilities provider’s stock, valued at approximately $276,000.

Several other hedge funds and other institutional investors have also made changes to their positions in BKH. Clearstead Trust LLC purchased a new stake in shares of Black Hills during the first quarter worth approximately $30,000. IMA Advisory Services Inc. acquired a new position in Black Hills during the 1st quarter worth approximately $30,000. Spire Wealth Management lifted its position in shares of Black Hills by 4,115.4% during the 2nd quarter. Spire Wealth Management now owns 548 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 535 shares during the last quarter. Ameritas Advisory Services LLC purchased a new position in Black Hills in the second quarter valued at $43,000. Finally, Hilltop National Bank purchased a new stake in Black Hills during the 2nd quarter worth about $50,000. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Black Hills Stock Performance

NYSE BKH opened at $69.56 on Tuesday. The firm has a market cap of $5.07 billion, a P/E ratio of 17.52, a P/E/G ratio of 2.95 and a beta of 0.76. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 1.06. The business’s 50-day moving average price is $62.98 and its 200 day moving average price is $59.92. Black Hills Corporation has a 52-week low of $54.92 and a 52-week high of $72.22.

Black Hills (NYSE:BKH) last issued its quarterly earnings results on Thursday, November 6th. The utilities provider reported $0.45 earnings per share for the quarter, hitting the consensus estimate of $0.45. The firm had revenue of $430.20 million during the quarter, compared to the consensus estimate of $439.96 million. Black Hills had a return on equity of 7.81% and a net margin of 12.68%.The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the company earned $0.35 earnings per share. On average, equities research analysts expect that Black Hills Corporation will post 4.12 earnings per share for the current year.

Black Hills Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be given a $0.676 dividend. The ex-dividend date is Monday, November 17th. This represents a $2.70 dividend on an annualized basis and a yield of 3.9%. Black Hills’s dividend payout ratio (DPR) is presently 68.18%.

Analysts Set New Price Targets

BKH has been the topic of a number of recent analyst reports. Scotiabank upgraded Black Hills from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $66.00 to $81.00 in a report on Friday, November 7th. Bank of America raised shares of Black Hills from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $57.00 to $64.00 in a report on Wednesday, August 20th. Finally, Weiss Ratings upgraded shares of Black Hills from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $71.00.

Insiders Place Their Bets

In other Black Hills news, CFO Kimberly F. Nooney sold 14,500 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer owned 34,621 shares in the company, valued at approximately $2,447,704.70. The trade was a 29.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.63% of the company’s stock.

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.