Cornercap Investment Counsel Inc., an institutional investor, has reported an increase in its position in Black Hills Co. (NYSE:BKH) during the 1st quarter of this year. According to the company’s most recent Form 13F filing with the Securities and Exchange Commission, Cornercap Investment Counsel Inc. now owns 17,818 shares of the utilities provider’s stock, representing a growth of 22.5%. The investor acquired an additional 3,278 shares during the period, boosting its holdings to a value of $1,124,000.
This increase in Cornercap Investment Counsel Inc.’s position signifies its confidence and positive outlook on Black Hills Co.’s future prospects. It is noteworthy that institutional investors like Cornercap Investment Counsel Inc. often have extensive market knowledge and research capabilities to make informed investment decisions.
Black Hills Co. recently announced that it will be paying out a quarterly dividend on September 1st. Stockholders who were recorded on August 18th will receive a dividend of $0.625 per share. This amounts to an annualized dividend of $2.50 and translates to a dividend yield of 4.49%. It is important to note that the ex-dividend date was on August 17th.
Black Hills Co.’s current dividend payout ratio stands at 67.02%. This ratio indicates the portion of earnings that is distributed to shareholders as dividends rather than being retained within the company for reinvestment or other purposes.
For investors interested in gaining deeper insights into Black Hills Co., we recommend visiting our website for our latest analysis on the company. It is crucial for investors to conduct thorough research before making any investment decisions in order to fully understand a company’s financial standing, market dynamics, and growth potential.
Investors should consider various factors such as financial performance, industry trends, management expertise, and competitive advantages when evaluating investment opportunities in utility providers like Black Hills Co.
Overall, Cornercap Investment Counsel Inc.’s increased position in Black Hills Co. highlights its confidence in the company’s growth prospects. Additionally, the announcement of a quarterly dividend further demonstrates Black Hills Co.’s commitment to returning value to its shareholders. As always, investors should conduct their due diligence and seek professional advice before making any investment decisions in order to maximize their potential returns and minimize risks.
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Changes in Holdings and Mixed Analyst Ratings Leave Black Hills Co. in Uncertain Territory
Black Hills (NYSE:BKH) has seen changes in its holdings as various hedge funds and institutional investors have modified their positions in the company. Belpointe Asset Management LLC acquired a new position during the fourth quarter, valued at approximately $29,000. Mitsubishi UFJ Trust & Banking Corp also bought a new position in the first quarter, worth around $31,000. Additionally, GPS Wealth Strategies Group LLC purchased shares of Black Hills for $35,000 during the same period. EverSource Wealth Advisors LLC increased its holdings by 594.7% in the fourth quarter and now owns 521 shares, valued at $37,000. CENTRAL TRUST Co witnessed growth of 63.3% in the third quarter and currently owns 890 shares, valued at $61,000. Hedge funds and other institutional investors now own about 86.24% of Black Hill’s stock.
Analysts have weighed in on Black Hills’ performance with mixed opinions. Wells Fargo & Company reduced their price target from $66.00 to $62.00 and assigned an “equal weight” rating to the stock based on recent research findings released on August 4th. Additionally, StockNews.com initiated coverage on Black Hills with a “sell” rating on August 19th. On another note, Mizuho lowered their price target from $60.00 to $56.00 for the stock on August 9th. Overall, three investment analysts have rated it as a sell while four have given it a hold rating as per Bloomberg data compilation results; leading to a consensus rating of “Hold” with an average price target of $66.29.
On Friday trading hours, BKH stock traded up by $0.31 and closed at $55.62 per share with a volume of 94,599 shares exchanged compared to its average volume of 509,811 shares traded daily. The stock’s 50-day simple moving average stands at $59.05 while the 200-day simple moving average is at $61.87. With a market cap of $3.73 billion, Black Hills has a price-to-earnings (PE) ratio of 14.98 and a price-to-earnings-growth (PEG) ratio of 6.78. It also boasts a beta of 0.58, indicating its lower volatility compared to the market as a whole. Black Hills’ stock performance has shown a range between its 12-month low of $53.88 and its high of $79.15.
In its most recent earnings report on August 2nd, Black Hills announced an EPS (Earnings Per Share) of $0.35 for the quarter, falling below analysts’ consensus estimate by ($0.03). The company reported revenue of $411.30 million for the quarter, compared to analyst estimates of $552.13 million. The net margin stood at 9.46%, while return on equity was recorded at 7.85%. This indicated a decline in revenue of 12.9% compared to the same quarter in the previous year when the company posted earnings per share (EPS) of $0.52.
Analysts predict that Black Hills Co.’s EPS for this current year will be around 3.73 based on their estimations and research findings.
Overall, with its recent changes in institutional holdings and mixed analyst ratings, as well as fluctuations in stock prices and financial performance, it remains uncertain what lies ahead for Black Hills Co., leaving investors perplexed about its future trajectory.
