Federated Hermes Inc. Sells 7,323 Shares of Black Hills Corporation (NYSE:BKH)

Federated Hermes Inc. lowered its stake in Black Hills Corporation (NYSE:BKH - Free Report) by 11.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 54,386 shares of the utilities provider's stock after selling 7,323 shares during the period. Federated Hermes Inc. owned 0.08% of Black Hills worth $3,299,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Journey Strategic Wealth LLC raised its holdings in Black Hills by 4.1% during the first quarter. Journey Strategic Wealth LLC now owns 4,367 shares of the utilities provider's stock worth $265,000 after purchasing an additional 172 shares in the last quarter. Financial Counselors Inc. increased its position in shares of Black Hills by 0.3% during the 1st quarter. Financial Counselors Inc. now owns 54,175 shares of the utilities provider's stock valued at $3,286,000 after purchasing an additional 176 shares during the period. Xponance Inc. raised its stake in shares of Black Hills by 1.9% in the 1st quarter. Xponance Inc. now owns 10,218 shares of the utilities provider's stock worth $620,000 after buying an additional 188 shares in the last quarter. EP Wealth Advisors LLC lifted its holdings in shares of Black Hills by 5.9% in the fourth quarter. EP Wealth Advisors LLC now owns 3,528 shares of the utilities provider's stock valued at $206,000 after buying an additional 197 shares during the period. Finally, State of Michigan Retirement System boosted its stake in Black Hills by 1.2% during the first quarter. State of Michigan Retirement System now owns 17,100 shares of the utilities provider's stock valued at $1,037,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 86.71% of the company's stock.

Analyst Ratings Changes

Separately, BMO Capital Markets started coverage on Black Hills in a research note on Tuesday, May 13th. They set an "outperform" rating and a $68.00 price objective for the company.

Black Hills Stock Up 1.2%

Shares of NYSE:BKH traded up $0.73 during midday trading on Wednesday, hitting $59.73. 849,113 shares of the stock were exchanged, compared to its average volume of 519,470. The company has a market capitalization of $4.35 billion, a PE ratio of 15.05, a P/E/G ratio of 2.73 and a beta of 0.71. Black Hills Corporation has a 52-week low of $54.92 and a 52-week high of $65.59. 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 business's fifty day simple moving average is $57.03 and its two-hundred day simple moving average is $58.67.

Black Hills (NYSE:BKH - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.38 EPS for the quarter, meeting the consensus estimate of $0.38. The business had revenue of $439.00 million during the quarter, compared to analysts' expectations of $412.69 million. Black Hills had a return on equity of 7.81% and a net margin of 12.68%. During the same quarter in the previous year, the business posted $0.33 EPS. The firm's quarterly revenue was up 8.9% compared to the same quarter last year. As a group, research analysts predict that Black Hills Corporation will post 4.12 earnings per share for the current fiscal year.

Black Hills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be issued a $0.676 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $2.70 dividend on an annualized basis and a yield of 4.5%. Black Hills's dividend payout ratio (DPR) is 68.01%.

Black Hills Company Profile

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.