Black Hills (NYSE:BKH) Sets New 52-Week High – Still a Buy?

Black Hills Co. (NYSE:BKH)’s share price reached a new 52-week high on Monday . The stock traded as high as $62.36 and last traded at $62.35, with a volume of 134715 shares changing hands. The stock had previously closed at $60.78.

Wall Street Analyst Weigh In

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

Black Hills Trading Up 2.2 %

The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 4.46 and a beta of 0.69. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.12 and a quick ratio of 0.83. The business’s 50-day moving average price is $60.31 and its two-hundred day moving average price is $57.62.

Black Hills Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Monday, November 18th will be paid a $0.65 dividend. The ex-dividend date is Monday, November 18th. This represents a $2.60 annualized dividend and a yield of 4.12%. Black Hills’s payout ratio is currently 69.89%.

Hedge Funds Weigh In On Black Hills

Large investors have recently bought and sold shares of the stock. Pathway Financial Advisers LLC acquired a new position in Black Hills in the first quarter valued at $31,000. Blue Trust Inc. raised its holdings in Black Hills by 84.9% in the third quarter. Blue Trust Inc. now owns 577 shares of the utilities provider’s stock valued at $35,000 after buying an additional 265 shares during the period. Capital Performance Advisors LLP acquired a new position in Black Hills during the third quarter valued at approximately $45,000. Quarry LP increased its position in shares of Black Hills by 158.0% in the second quarter. Quarry LP now owns 841 shares of the utilities provider’s stock worth $46,000 after acquiring an additional 515 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. raised its stake in shares of Black Hills by 972.3% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 890 shares of the utilities provider’s stock valued at $48,000 after acquiring an additional 807 shares during the period. Hedge funds and other institutional investors own 86.71% of the company’s stock.

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.