Black Hills Co. (NYSE:BKH) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC cut its stake in shares of Black Hills Co. (NYSE:BKH) by 82.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 5,039 shares of the utilities provider’s stock after selling 24,284 shares during the period. SG Americas Securities LLC’s holdings in Black Hills were worth $308,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Black Hills by 972.3% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 890 shares of the utilities provider’s stock valued at $48,000 after purchasing an additional 807 shares during the period. Quarry LP raised its stake in shares of Black Hills by 158.0% in the second quarter. Quarry LP now owns 841 shares of the utilities provider’s stock valued at $46,000 after acquiring an additional 515 shares in the last quarter. Creative Planning grew its position in shares of Black Hills by 26.8% during the second quarter. Creative Planning now owns 23,571 shares of the utilities provider’s stock worth $1,282,000 after buying an additional 4,980 shares in the last quarter. Algert Global LLC grew its holdings in Black Hills by 38.5% during the 2nd quarter. Algert Global LLC now owns 28,512 shares of the utilities provider’s stock worth $1,550,000 after acquiring an additional 7,924 shares in the last quarter. Finally, Mackenzie Financial Corp grew its stake in shares of Black Hills by 324.7% during the second quarter. Mackenzie Financial Corp now owns 127,243 shares of the utilities provider’s stock worth $6,919,000 after purchasing an additional 97,285 shares in the last quarter. Institutional investors and hedge funds own 86.71% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BKH. Wells Fargo & Company raised 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. Scotiabank increased their price objective on Black Hills from $54.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $58.00.

Black Hills Stock Down 0.1 %

BKH stock opened at $61.76 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.06 and a debt-to-equity ratio of 1.23. The firm’s 50-day simple moving average is $59.63 and its 200 day simple moving average is $56.80. The stock has a market cap of $4.26 billion, a PE ratio of 15.21, a price-to-earnings-growth ratio of 4.19 and a beta of 0.69. Black Hills Co. has a fifty-two week low of $47.49 and a fifty-two week high of $62.20.

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

Black Hills Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Monday, August 19th were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.21%. Black Hills’s dividend payout ratio (DPR) is presently 64.04%.

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.