Pacer Advisors Inc. bought a new stake in Black Hills Corp (NYSE:BKH) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 21,489 shares of the utilities provider’s stock, valued at approximately $1,680,000.

Other large investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in shares of Black Hills by 2.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,027,803 shares of the utilities provider’s stock valued at $64,524,000 after buying an additional 27,598 shares during the period. Geode Capital Management LLC increased its holdings in Black Hills by 12.0% in the 4th quarter. Geode Capital Management LLC now owns 583,033 shares of the utilities provider’s stock valued at $36,602,000 after purchasing an additional 62,327 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Black Hills in the 1st quarter valued at approximately $232,000. SG Americas Securities LLC raised its position in Black Hills by 193.4% in the first quarter. SG Americas Securities LLC now owns 12,957 shares of the utilities provider’s stock valued at $960,000 after purchasing an additional 8,541 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new stake in Black Hills in the first quarter valued at approximately $268,000. Hedge funds and other institutional investors own 88.92% of the company’s stock.

In related news, CFO Richard Kinzley sold 5,416 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $77.89, for a total transaction of $421,852.24. Following the completion of the transaction, the chief financial officer now directly owns 38,299 shares in the company, valued at approximately $2,983,109.11. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider David R. Emery sold 7,500 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $78.14, for a total transaction of $586,050.00. Following the completion of the transaction, the insider now directly owns 167,806 shares of the company’s stock, valued at approximately $13,112,360.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,916 shares of company stock valued at $2,198,227. Company insiders own 1.00% of the company’s stock.

BKH has been the subject of several research analyst reports. Credit Suisse Group lowered their price target on Black Hills from $79.00 to $78.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Zacks Investment Research downgraded Black Hills from a “hold” rating to a “sell” rating in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $72.67.

Shares of BKH traded up $1.72 during mid-day trading on Wednesday, hitting $76.39. 14,158 shares of the company’s stock were exchanged, compared to its average volume of 347,428. The stock’s 50-day moving average is $77.40 and its 200-day moving average is $75.83. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.55 and a current ratio of 0.76. Black Hills Corp has a fifty-two week low of $56.42 and a fifty-two week high of $82.01. The company has a market cap of $4.59 billion, a price-to-earnings ratio of 21.22, a P/E/G ratio of 5.29 and a beta of 0.30.

Black Hills (NYSE:BKH) last announced its quarterly earnings data on Monday, August 5th. The utilities provider reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.21). The business had revenue of $333.90 million during the quarter, compared to analyst estimates of $399.87 million. Black Hills had a net margin of 12.65% and a return on equity of 8.99%. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.45 EPS. As a group, equities research analysts anticipate that Black Hills Corp will post 3.43 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Monday, August 19th were issued a dividend of $0.505 per share. This represents a $2.02 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend was Friday, August 16th. Black Hills’s dividend payout ratio is 57.06%.

Black Hills Company Profile

Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. It operates through Electric Utilities, Gas Utilities, Power Generation, and Mining segments. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 212,000 electric customers in Colorado, Montana, South Dakota, and Wyoming, as well as provides electrical system construction services to large industrial customers.

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Institutional Ownership by Quarter for Black Hills (NYSE:BKH)

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