1,568 Shares in Black Hills Corporation $BKH Purchased by Neo Ivy Capital Management

Neo Ivy Capital Management purchased a new position in Black Hills Corporation (NYSE:BKH) during the second quarter, HoldingsChannel reports. The institutional investor purchased 1,568 shares of the utilities provider’s stock, valued at approximately $88,000.

Several other large investors have also modified their holdings of BKH. Clearstead Trust LLC acquired a new stake in shares of Black Hills in the first quarter worth approximately $30,000. Spire Wealth Management increased its position in Black Hills by 4,115.4% during the second 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. TD Waterhouse Canada Inc. purchased a new position in Black Hills during the second quarter worth approximately $31,000. Ameritas Advisory Services LLC acquired a new position in shares of Black Hills in the 2nd quarter valued at $43,000. Finally, Hilltop National Bank acquired a new position in shares of Black Hills in the 2nd quarter valued at $50,000. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Black Hills Stock Up 0.1%

Shares of Black Hills stock opened at $70.05 on Friday. Black Hills Corporation has a twelve month low of $54.92 and a twelve month high of $72.22. The stock has a market cap of $5.10 billion, a price-to-earnings ratio of 17.64, a price-to-earnings-growth ratio of 2.95 and a beta of 0.76. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 1.06. The company has a fifty day moving average price of $63.86 and a 200 day moving average price of $60.17.

Black Hills (NYSE:BKH) last released its quarterly earnings data on Thursday, November 6th. The utilities provider reported $0.45 EPS for the quarter, meeting the consensus estimate of $0.45. The company had revenue of $430.20 million for the quarter, compared to analyst estimates of $439.96 million. Black Hills had a return on equity of 7.81% and a net margin of 12.68%.The firm’s revenue was up 7.1% compared to the same quarter last year. During the same period last year, the company posted $0.35 earnings per share. Equities research analysts forecast that Black Hills Corporation will post 4.12 earnings per share for the current fiscal year.

Black Hills Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be given a dividend of $0.676 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $2.70 annualized dividend and a yield of 3.9%. Black Hills’s payout ratio is 68.18%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Bank of America upgraded Black Hills from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $57.00 to $64.00 in a report on Wednesday, August 20th. Scotiabank raised Black Hills from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $66.00 to $81.00 in a research report on Friday, November 7th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Black Hills in a research note on Wednesday. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.00.

About Black Hills

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.