Cetera Investment Advisers Sells 4,634 Shares of Black Hills Co. (NYSE:BKH)

Cetera Investment Advisers lessened its holdings in Black Hills Co. (NYSE:BKH) by 21.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,438 shares of the utilities provider’s stock after selling 4,634 shares during the quarter. Cetera Investment Advisers’ holdings in Black Hills were worth $948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Rise Advisors LLC purchased a new position in shares of Black Hills during the 1st quarter valued at $31,000. Pathway Financial Advisers LLC purchased a new position in shares of Black Hills during the 1st quarter valued at $31,000. Sunbelt Securities Inc. purchased a new position in shares of Black Hills during the 1st quarter valued at $33,000. Riverview Trust Co purchased a new position in shares of Black Hills during the 1st quarter valued at $38,000. Finally, Hexagon Capital Partners LLC lifted its position in shares of Black Hills by 77.2% during the 1st quarter. Hexagon Capital Partners LLC now owns 732 shares of the utilities provider’s stock valued at $40,000 after buying an additional 319 shares during the last quarter. Institutional investors own 86.71% of the company’s stock.

Black Hills Stock Performance

NYSE:BKH opened at $61.84 on Friday. The business’s 50-day moving average price is $59.54 and its two-hundred day moving average price is $56.72. Black Hills Co. has a twelve month low of $47.49 and a twelve month high of $62.20. The stock has a market cap of $4.26 billion, a P/E ratio of 15.23, a PEG ratio of 4.19 and a beta of 0.69. The company has a quick ratio of 0.94, a current ratio of 1.06 and a debt-to-equity ratio of 1.23.

Black Hills (NYSE:BKH) last released its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. Black Hills had a return on equity of 8.21% and a net margin of 12.96%. The firm had revenue of $402.60 million for the quarter, compared to analysts’ expectations of $498.00 million. During the same quarter last year, the firm posted $0.35 EPS. The company’s revenue was down 2.1% compared to the same quarter last year. As a group, equities analysts predict that Black Hills Co. will post 3.9 EPS for the current fiscal year.

Black Hills Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Monday, August 19th were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $2.60 annualized dividend and a dividend yield of 4.20%. Black Hills’s dividend payout ratio (DPR) is presently 64.04%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BKH. Scotiabank upped their price target on Black Hills from $54.00 to $63.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Wells Fargo & Company increased their price objective on Black Hills from $61.00 to $64.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $58.00.

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.