Black Hills Co. (NYSE:BKH) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. reduced its holdings in shares of Black Hills Co. (NYSE:BKH) by 26.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,841 shares of the utilities provider’s stock after selling 3,166 shares during the quarter. Federated Hermes Inc.’s holdings in Black Hills were worth $481,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Assetmark Inc. boosted its position in Black Hills by 21.0% during the 4th quarter. Assetmark Inc. now owns 6,344 shares of the utilities provider’s stock worth $342,000 after purchasing an additional 1,101 shares during the period. Cambridge Investment Research Advisors Inc. lifted its position in Black Hills by 12.8% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 46,140 shares of the utilities provider’s stock worth $2,489,000 after acquiring an additional 5,253 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in Black Hills by 346.2% in the 4th quarter. Hsbc Holdings PLC now owns 40,140 shares of the utilities provider’s stock worth $2,164,000 after acquiring an additional 31,145 shares during the period. Hilltop Holdings Inc. acquired a new stake in Black Hills in the fourth quarter valued at approximately $267,000. Finally, Parallel Advisors LLC raised its stake in shares of Black Hills by 53.8% during the fourth quarter. Parallel Advisors LLC now owns 752 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 263 shares during the period. Institutional investors and hedge funds own 86.71% of the company’s stock.

Black Hills Stock Up 1.4 %

Shares of Black Hills stock opened at $61.55 on Tuesday. 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 business has a 50-day moving average price of $58.73 and a 200 day moving average price of $55.83. Black Hills Co. has a fifty-two week low of $46.43 and a fifty-two week high of $61.89. The firm has a market cap of $4.24 billion, a P/E ratio of 15.16 and a beta of 0.68.

Black Hills (NYSE:BKH) last announced its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.33 earnings per share (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 revenue for the quarter was down 2.1% on a year-over-year basis. During the same period last year, the business posted $0.35 earnings per share. On average, sell-side analysts forecast that Black Hills Co. will post 3.92 earnings per share for the current fiscal year.

Black Hills Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Monday, August 19th were paid a $0.65 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $2.60 dividend on an annualized basis and a yield of 4.22%. Black Hills’s payout ratio is currently 64.04%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Black Hills from $61.00 to $64.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Mizuho lifted their target price on Black Hills from $53.00 to $57.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 4th. Finally, Scotiabank increased 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. One equities research 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 presently has a consensus 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.