Raymond James & Associates lowered its holdings in shares of Black Hills Co. (NYSE:BKH - Free Report) by 82.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,601 shares of the utilities provider's stock after selling 150,943 shares during the quarter. Raymond James & Associates' holdings in Black Hills were worth $1,705,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in BKH. State of Wyoming purchased a new stake in shares of Black Hills during the 2nd quarter valued at about $27,000. Geneos Wealth Management Inc. grew its stake in shares of Black Hills by 87.3% during the 3rd quarter. Geneos Wealth Management Inc. now owns 562 shares of the utilities provider's stock valued at $28,000 after acquiring an additional 262 shares during the period. Lindbrook Capital LLC grew its stake in shares of Black Hills by 678.4% during the 3rd quarter. Lindbrook Capital LLC now owns 685 shares of the utilities provider's stock valued at $35,000 after acquiring an additional 597 shares during the period. Belpointe Asset Management LLC grew its stake in shares of Black Hills by 60.6% during the 1st quarter. Belpointe Asset Management LLC now owns 652 shares of the utilities provider's stock valued at $41,000 after acquiring an additional 246 shares during the period. Finally, CENTRAL TRUST Co grew its stake in shares of Black Hills by 63.3% during the 3rd quarter. CENTRAL TRUST Co now owns 890 shares of the utilities provider's stock valued at $61,000 after acquiring an additional 345 shares during the period. Hedge funds and other institutional investors own 86.71% of the company's stock.
Analyst Ratings Changes
A number of research analysts recently issued reports on the company. Scotiabank boosted their price objective on Black Hills from $57.00 to $58.00 and gave the company a "sector perform" rating in a research note on Friday, February 9th. Royal Bank of Canada cut their price objective on shares of Black Hills from $61.00 to $57.00 and set a "sector perform" rating for the company in a report on Friday, February 9th. Finally, StockNews.com lowered shares of Black Hills from a "hold" rating to a "sell" rating in a report on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company's stock. Based on data from MarketBeat.com, Black Hills has an average rating of "Hold" and a consensus price target of $55.80.
Get Our Latest Report on BKH
Black Hills Price Performance
Shares of BKH stock traded up $0.72 on Thursday, reaching $52.45. The company's stock had a trading volume of 536,415 shares, compared to its average volume of 551,402. The stock's fifty day simple moving average is $52.65 and its 200-day simple moving average is $52.00. Black Hills Co. has a 1 year low of $46.43 and a 1 year high of $66.85. The company has a current ratio of 0.70, a quick ratio of 0.56 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $3.58 billion, a price-to-earnings ratio of 13.38 and a beta of 0.64.
Black Hills (NYSE:BKH - Get Free Report) last issued its quarterly earnings results on Thursday, February 8th. The utilities provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.06 by $0.11. The company had revenue of $591.70 million during the quarter, compared to the consensus estimate of $863.67 million. Black Hills had a return on equity of 8.09% and a net margin of 11.25%. During the same period last year, the company earned $1.11 earnings per share. Analysts forecast that Black Hills Co. will post 3.9 earnings per share for the current fiscal year.
Black Hills Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were given a $0.65 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This is an increase from Black Hills's previous quarterly dividend of $0.63. This represents a $2.60 dividend on an annualized basis and a yield of 4.96%. Black Hills's dividend payout ratio (DPR) is currently 66.33%.
About Black Hills
(
Free Report)
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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