AdvisorNet Financial Inc Sells 1,340 Shares of Black Hills Co. (NYSE:BKH)

AdvisorNet Financial Inc reduced its holdings in Black Hills Co. (NYSE:BKH) by 5.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,903 shares of the utilities provider’s stock after selling 1,340 shares during the period. AdvisorNet Financial Inc’s holdings in Black Hills were worth $1,250,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BKH. Rise Advisors LLC acquired a new position in shares of Black Hills in the 1st quarter valued at $31,000. Parallel Advisors LLC boosted its holdings in Black Hills by 53.8% during the fourth quarter. Parallel Advisors LLC now owns 752 shares of the utilities provider’s stock worth $41,000 after buying an additional 263 shares during the last quarter. Allworth Financial LP grew its position in shares of Black Hills by 101.2% during the 4th quarter. Allworth Financial LP now owns 807 shares of the utilities provider’s stock worth $44,000 after buying an additional 406 shares during the period. CWM LLC increased its stake in shares of Black Hills by 564.3% in the 4th quarter. CWM LLC now owns 2,046 shares of the utilities provider’s stock valued at $110,000 after acquiring an additional 1,738 shares during the last quarter. Finally, ICA Group Wealth Management LLC acquired a new stake in shares of Black Hills in the 4th quarter valued at approximately $121,000. 86.71% of the stock is owned by institutional investors.

Insider Buying and Selling at Black Hills

In related news, Director Rebecca B. Roberts sold 3,094 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $54.84, for a total value of $169,674.96. Following the sale, the director now owns 7,956 shares of the company’s stock, valued at $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 Trading Up 2.0 %

NYSE:BKH opened at $54.17 on Tuesday. The company has a market cap of $3.73 billion, a P/E ratio of 13.34 and a beta of 0.69. Black Hills Co. has a twelve month low of $46.43 and a twelve month high of $61.94. The business has a 50 day moving average price of $54.75 and a two-hundred day moving average price of $53.55. The company has a quick ratio of 0.61, a current ratio of 0.73 and a debt-to-equity ratio of 1.11.

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

Black Hills Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Friday, May 17th were given a dividend of $0.65 per share. The ex-dividend date was Thursday, May 16th. This represents a $2.60 annualized dividend and a yield of 4.80%. Black Hills’s dividend payout ratio is 64.04%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Scotiabank decreased their price objective on shares of Black Hills from $58.00 to $54.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. StockNews.com upgraded Black Hills from a “sell” rating to a “hold” rating in a report on Thursday, May 9th. Mizuho increased their price target on Black Hills from $53.00 to $57.00 and gave the stock a “neutral” rating in a report on Tuesday, June 4th. Finally, Wells Fargo & Company boosted their price objective on Black Hills from $56.00 to $61.00 and gave the company an “equal weight” rating in a research report on Friday, May 10th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, Black Hills currently has an average rating of “Hold” and a consensus price target of $55.60.

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.