AMG National Trust Bank Purchases 327 Shares of Black Hills Co. (NYSE:BKH)

AMG National Trust Bank raised its holdings in Black Hills Co. (NYSE:BKH) by 1.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,596 shares of the utilities provider’s stock after purchasing an additional 327 shares during the period. AMG National Trust Bank’s holdings in Black Hills were worth $1,881,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Financial Advocates Investment Management grew its stake in Black Hills by 4.2% during the fourth quarter. Financial Advocates Investment Management now owns 4,988 shares of the utilities provider’s stock valued at $269,000 after acquiring an additional 200 shares in the last quarter. Uncommon Cents Investing LLC grew its stake in Black Hills by 2.0% during the first quarter. Uncommon Cents Investing LLC now owns 10,710 shares of the utilities provider’s stock valued at $585,000 after acquiring an additional 210 shares in the last quarter. Retirement Systems of Alabama lifted its position in Black Hills by 0.3% during the first quarter. Retirement Systems of Alabama now owns 85,382 shares of the utilities provider’s stock valued at $4,662,000 after purchasing an additional 225 shares during the last quarter. Legacy Financial Advisors Inc. lifted its position in Black Hills by 2.8% during the fourth quarter. Legacy Financial Advisors Inc. now owns 8,188 shares of the utilities provider’s stock valued at $442,000 after purchasing an additional 226 shares during the last quarter. Finally, Lesa Sroufe & Co lifted its position in Black Hills by 0.5% during the second quarter. Lesa Sroufe & Co now owns 43,294 shares of the utilities provider’s stock valued at $2,354,000 after purchasing an additional 231 shares during the last quarter. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Black Hills Trading Up 0.9 %

NYSE:BKH opened at $58.24 on Monday. The company has a fifty day moving average of $56.32 and a 200 day moving average of $54.68. Black Hills Co. has a 52 week low of $46.43 and a 52 week high of $59.82. The company has a quick ratio of 0.61, a current ratio of 0.73 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $4.01 billion, a P/E ratio of 14.34 and a beta of 0.68.

Black Hills (NYSE:BKH) last posted its quarterly 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 net margin of 12.96% and a return on equity of 8.28%. The company had revenue of $402.60 million during the quarter, compared to analyst estimates of $498.00 million. During the same period in the prior year, the business posted $0.35 EPS. The firm’s revenue was down 2.1% compared to the same quarter last year. On average, research analysts predict that Black Hills Co. will post 3.92 earnings per share for the current year.

Black Hills Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Monday, August 19th will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $2.60 dividend on an annualized basis and a yield of 4.46%. Black Hills’s dividend payout ratio is currently 64.04%.

Analyst Upgrades and Downgrades

BKH has been the subject of several research analyst reports. Scotiabank lifted their target price on shares of 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 lifted their target price on shares of Black Hills from $61.00 to $64.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Mizuho boosted their price objective on shares of Black Hills from $53.00 to $57.00 and gave the stock a “neutral” rating in a report on Tuesday, June 4th. Finally, StockNews.com upgraded shares of Black Hills from a “sell” rating to a “hold” rating in a report on Thursday, May 9th. One 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.com, Black Hills currently has an average rating of “Hold” and a consensus price target of $58.00.

Insider Activity at Black Hills

In other Black Hills news, Director Rebecca B. Roberts sold 3,094 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $54.84, for a total transaction of $169,674.96. Following the transaction, the director now directly owns 7,956 shares of the company’s stock, valued at approximately $436,307.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.61% of the stock is currently owned by company insiders.

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.