Sequoia Financial Advisors LLC Invests $616,000 in Black Hills Corporation $BKH

Key Points

• Sequoia Financial Advisors LLC has invested $616,000 in Black Hills Corporation, acquiring 10,981 shares as part of its new stake in the company.
• Black Hills reported a quarterly earnings per share of $0.38, meeting analysts' expectations, with revenue of $439 million for the quarter.
• The company recently declared a quarterly dividend of $0.676, resulting in an annualized yield of 4.3% with a payout ratio of 68.01%.

Sequoia Financial Advisors LLC bought a new stake in Black Hills Corporation (NYSE:BKH - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,981 shares of the utilities provider's stock, valued at approximately $616,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Clearstead Trust LLC purchased a new position in Black Hills during the first quarter valued at $30,000. IMA Advisory Services Inc. bought a new position in shares of Black Hills in the 1st quarter worth about $30,000. GAMMA Investing LLC lifted its position in Black Hills by 59.2% during the 1st quarter. GAMMA Investing LLC now owns 605 shares of the utilities provider's stock valued at $37,000 after acquiring an additional 225 shares during the period. Ameritas Advisory Services LLC purchased a new position in Black Hills during the 2nd quarter valued at about $43,000. Finally, Hilltop National Bank bought a new stake in Black Hills during the second quarter worth about $50,000. 86.71% of the stock is owned by hedge funds and other institutional investors.

Black Hills Price Performance

BKH opened at $63.06 on Monday. The company's 50-day simple moving average is $60.20 and its two-hundred day simple moving average is $58.83. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.49 and a current ratio of 0.64. The stock has a market capitalization of $4.59 billion, a P/E ratio of 15.88, a P/E/G ratio of 2.92 and a beta of 0.73. Black Hills Corporation has a 52-week low of $54.92 and a 52-week high of $65.59.

Black Hills (NYSE:BKH - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.38 earnings per share for the quarter, meeting analysts' consensus estimates of $0.38. Black Hills had a net margin of 12.68% and a return on equity of 7.81%. The company had revenue of $439.00 million for the quarter, compared to the consensus estimate of $412.69 million. During the same quarter in the prior year, the firm earned $0.33 earnings per share. The firm's revenue for the quarter was up 8.9% compared to the same quarter last year. Black Hills has set its FY 2025 guidance at 4.000-4.200 EPS. As a group, analysts predict that Black Hills Corporation will post 4.12 EPS for the current year.

Black Hills Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were issued a $0.676 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $2.70 annualized dividend and a dividend yield of 4.3%. Black Hills's payout ratio is presently 68.01%.

Analyst Ratings Changes

Several research firms have recently issued reports on BKH. Bank of America upgraded shares of Black Hills from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $57.00 to $64.00 in a report on Wednesday, August 20th. Weiss Ratings reiterated a "hold (c)" rating on shares of Black Hills in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Black Hills currently has a consensus rating of "Hold" and an average target price of $66.00.

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.

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