Black Hills Co. (NYSE:BKH) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its position in Black Hills Co. (NYSE:BKH) by 3.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 12,450 shares of the utilities provider’s stock after selling 485 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Black Hills were worth $677,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in BKH. Capital Research Global Investors increased its position in shares of Black Hills by 17.1% during the 4th quarter. Capital Research Global Investors now owns 3,251,722 shares of the utilities provider’s stock worth $175,430,000 after purchasing an additional 475,768 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Black Hills by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 8,143,567 shares of the utilities provider’s stock valued at $439,345,000 after acquiring an additional 322,271 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Black Hills by 36.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 755,095 shares of the utilities provider’s stock worth $40,737,000 after acquiring an additional 203,340 shares during the last quarter. Jupiter Asset Management Ltd. boosted its position in shares of Black Hills by 39.7% during the 1st quarter. Jupiter Asset Management Ltd. now owns 483,120 shares of the utilities provider’s stock worth $26,378,000 after purchasing an additional 137,356 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in Black Hills by 54.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 329,478 shares of the utilities provider’s stock valued at $17,917,000 after purchasing an additional 116,730 shares during the last quarter. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Mizuho upped their price target on Black Hills from $53.00 to $57.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 4th. StockNews.com upgraded Black Hills from a “sell” rating to a “hold” rating in a report on Thursday, May 9th. Scotiabank boosted their price target on shares of Black Hills from $54.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Finally, Wells Fargo & Company raised their price objective on shares of Black Hills from $61.00 to $64.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, Black Hills presently has an average rating of “Hold” and a consensus target price of $58.00.

Black Hills Trading Up 0.6 %

BKH opened at $60.10 on Friday. The business has a fifty day moving average price of $57.38 and a 200 day moving average price of $55.09. 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 12 month low of $46.43 and a 12 month high of $60.36. The stock has a market capitalization of $4.14 billion, a price-to-earnings ratio of 14.80 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 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $402.60 million during the quarter, compared to the consensus estimate of $498.00 million. Black Hills had a return on equity of 8.21% and a net margin of 12.96%. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 earnings per share. Sell-side analysts expect that Black Hills Co. will post 3.92 earnings per share for the current fiscal year.

Black Hills Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Monday, August 19th were issued a $0.65 dividend. The ex-dividend date was Monday, August 19th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.33%. Black Hills’s payout ratio is 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.