Black Hills Co. (NYSE:BKH) Stock Position Increased by Cwm LLC

Cwm LLC lifted its position in Black Hills Co. (NYSE:BKH) by 12.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,291 shares of the utilities provider’s stock after buying an additional 245 shares during the period. Cwm LLC’s holdings in Black Hills were worth $125,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Quadrature Capital Ltd raised its stake in shares of Black Hills by 8.0% in the 4th quarter. Quadrature Capital Ltd now owns 13,438 shares of the utilities provider’s stock worth $726,000 after buying an additional 995 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Black Hills by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 8,143,567 shares of the utilities provider’s stock worth $439,345,000 after buying an additional 322,271 shares in the last quarter. ICA Group Wealth Management LLC bought a new stake in shares of Black Hills in the 4th quarter worth $121,000. Goldman Sachs Group Inc. raised its position in shares of Black Hills by 36.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 755,095 shares of the utilities provider’s stock worth $40,737,000 after purchasing an additional 203,340 shares during the period. Finally, Krane Funds Advisors LLC purchased a new stake in shares of Black Hills during the fourth quarter valued at $459,000. Institutional investors own 86.71% of the company’s stock.

Black Hills Stock Up 0.4 %

Shares of Black Hills stock opened at $53.10 on Monday. The stock has a 50-day moving average price of $54.71 and a 200 day moving average price of $53.55. The company has a market cap of $3.66 billion, a P/E ratio of 13.08 and a beta of 0.69. The company has a current ratio of 0.73, a quick ratio of 0.61 and a debt-to-equity ratio of 1.11. Black Hills Co. has a 1 year low of $46.43 and a 1 year high of $61.94.

Black Hills (NYSE:BKH) last issued its earnings results on Wednesday, May 8th. The utilities provider reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.17. Black Hills had a return on equity of 8.37% and a net margin of 12.92%. The company had revenue of $726.40 million for the quarter, compared to analyst estimates of $683.00 million. During the same period in the prior year, the firm posted $1.73 EPS. The business’s revenue was down 21.1% compared to the same quarter last year.

Black Hills Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 17th were given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 4.90%. The ex-dividend date was Thursday, May 16th. Black Hills’s payout ratio is currently 64.04%.

Analyst Ratings Changes

Several brokerages have recently commented on BKH. Wells Fargo & Company upped their target price on Black Hills from $56.00 to $61.00 and gave the company an “equal weight” rating in a report on Friday, May 10th. Mizuho upped their target price on Black Hills from $53.00 to $57.00 and gave the company a “neutral” rating in a report on Tuesday, June 4th. Scotiabank reduced their target price on Black Hills from $58.00 to $54.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. Finally, StockNews.com raised Black Hills from a “sell” rating to a “hold” rating in a report on Thursday, May 9th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $55.60.

Insiders Place Their Bets

In other Black Hills news, Director Rebecca B. Roberts sold 3,094 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $54.84, for a total value of $169,674.96. Following the transaction, the director now directly owns 7,956 shares of the company’s stock, valued at approximately $436,307.04. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.61% of the company’s stock.

Black Hills 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.