Exchange Traded Concepts LLC Has $159,000 Stock Holdings in Black Hills Co. (NYSE:BKH)

Exchange Traded Concepts LLC cut its stake in shares of Black Hills Co. (NYSE:BKH) by 9.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,598 shares of the utilities provider’s stock after selling 285 shares during the period. Exchange Traded Concepts LLC’s holdings in Black Hills were worth $159,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Black Hills by 0.7% during the first quarter. Vanguard Group Inc. now owns 8,203,786 shares of the utilities provider’s stock worth $447,927,000 after purchasing an additional 60,219 shares during the period. AQR Capital Management LLC raised its position in shares of Black Hills by 31.7% during the second quarter. AQR Capital Management LLC now owns 1,147,939 shares of the utilities provider’s stock worth $62,425,000 after purchasing an additional 275,994 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Black Hills by 8.8% during the second quarter. Dimensional Fund Advisors LP now owns 978,497 shares of the utilities provider’s stock worth $53,210,000 after purchasing an additional 78,958 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Black Hills by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 949,278 shares of the utilities provider’s stock valued at $51,622,000 after buying an additional 3,544 shares in the last quarter. Finally, Jupiter Asset Management Ltd. grew its holdings in shares of Black Hills by 39.7% during the first quarter. Jupiter Asset Management Ltd. now owns 483,120 shares of the utilities provider’s stock valued at $26,378,000 after buying an additional 137,356 shares in the last quarter. 86.71% of the stock is owned by institutional investors and hedge funds.

Black Hills Stock Performance

Shares of NYSE BKH opened at $60.62 on Tuesday. The business’s 50-day moving average price is $59.63 and its two-hundred day moving average price is $56.81. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.06 and a quick ratio of 0.94. Black Hills Co. has a one year low of $47.49 and a one year high of $62.20. The company has a market capitalization of $4.18 billion, a P/E ratio of 14.93, a price-to-earnings-growth ratio of 4.19 and a beta of 0.69.

Black Hills (NYSE:BKH) last issued its earnings results on Wednesday, July 31st. The utilities provider reported $0.33 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $498.00 million. During the same quarter in the previous year, the company posted $0.35 earnings per share. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. Analysts anticipate that Black Hills Co. will post 3.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BKH has been the topic of a number of research analyst reports. Scotiabank lifted their price target on Black Hills from $54.00 to $63.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Wells Fargo & Company lifted their price target on Black Hills from $61.00 to $64.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Black Hills presently has an average rating of “Hold” and a consensus target price of $58.00.

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.