Gabelli Funds LLC Sells 1,400 Shares of Black Hills Co. (NYSE:BKH)

Gabelli Funds LLC reduced its position in Black Hills Co. (NYSE:BKH) by 0.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 457,600 shares of the utilities provider’s stock after selling 1,400 shares during the quarter. Gabelli Funds LLC owned about 0.66% of Black Hills worth $24,884,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Thrivent Financial for Lutherans boosted its position in shares of Black Hills by 7.8% during the 2nd quarter. Thrivent Financial for Lutherans now owns 176,639 shares of the utilities provider’s stock worth $9,606,000 after acquiring an additional 12,805 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of Black Hills by 13.7% in the 2nd quarter. Sei Investments Co. now owns 16,004 shares of the utilities provider’s stock valued at $870,000 after purchasing an additional 1,929 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of Black Hills by 58.7% in the 2nd quarter. Pacer Advisors Inc. now owns 16,070 shares of the utilities provider’s stock valued at $874,000 after purchasing an additional 5,943 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Black Hills by 161.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 54,400 shares of the utilities provider’s stock valued at $2,958,000 after purchasing an additional 33,600 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of Black Hills during the 2nd quarter worth $259,000. 86.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on BKH shares. Wells Fargo & Company raised their price objective on Black Hills from $61.00 to $64.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Scotiabank raised their price target on shares of Black Hills from $54.00 to $63.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Finally, Mizuho lifted their price target on shares of Black Hills from $53.00 to $57.00 and gave the company a “neutral” rating in a report on Tuesday, June 4th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $58.00.

Black Hills Price Performance

Shares of BKH opened at $60.68 on Monday. 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 stock has a market cap of $4.18 billion, a PE ratio of 14.95 and a beta of 0.68. Black Hills Co. has a 12-month low of $46.43 and a 12-month high of $61.89. The business has a 50-day simple moving average of $58.65 and a two-hundred day simple moving average of $55.77.

Black Hills (NYSE:BKH) last issued its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. Black Hills had a net margin of 12.96% and a return on equity of 8.21%. The business had revenue of $402.60 million during the quarter, compared to analyst estimates of $498.00 million. During the same quarter last year, the business earned $0.35 EPS. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. Analysts anticipate that Black Hills Co. will post 3.92 earnings per share for the current fiscal year.

Black Hills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Monday, August 19th were paid a $0.65 dividend. The ex-dividend date was Monday, August 19th. This represents a $2.60 annualized dividend and a dividend yield of 4.28%. Black Hills’s dividend payout ratio is 64.04%.

Black Hills Company 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.