SG Americas Securities LLC Sells 24,284 Shares of Black Hills Co. (NYSE:BKH)

SG Americas Securities LLC lowered its holdings in Black Hills Co. (NYSE:BKH) by 82.8% during the third quarter, Holdings Channel.com reports. The firm owned 5,039 shares of the utilities provider’s stock after selling 24,284 shares during the period. SG Americas Securities LLC’s holdings in Black Hills were worth $308,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in BKH. Vanguard Group Inc. lifted its position in Black Hills by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 8,203,786 shares of the utilities provider’s stock valued at $447,927,000 after purchasing an additional 60,219 shares during the period. AQR Capital Management LLC grew its holdings in Black Hills by 31.7% during the 2nd quarter. AQR Capital Management LLC now owns 1,147,939 shares of the utilities provider’s stock worth $62,425,000 after acquiring an additional 275,994 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Black Hills by 8.8% in the 2nd 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 last quarter. Bank of New York Mellon Corp increased its holdings in Black Hills by 0.4% in 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 purchasing an additional 3,544 shares during the last quarter. Finally, Jupiter Asset Management Ltd. lifted its stake in Black Hills by 39.7% in 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 during the period. Institutional investors own 86.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on BKH shares. Scotiabank upped their price objective 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 increased their target price on Black Hills from $61.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, Black Hills presently has an average rating of “Hold” and a consensus price target of $58.00.

Black Hills Stock Down 0.1 %

BKH stock opened at $61.76 on Friday. The firm has a 50-day moving average price of $59.63 and a 200-day moving average price of $56.80. Black Hills Co. has a 12 month low of $47.49 and a 12 month high of $62.20. The company has a current ratio of 1.06, a quick ratio of 0.94 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $4.26 billion, a P/E ratio of 15.21, a price-to-earnings-growth ratio of 4.19 and a beta of 0.69.

Black Hills (NYSE:BKH) last posted its earnings results on Wednesday, July 31st. The utilities provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.29 by $0.04. The firm 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 quarterly revenue was down 2.1% on a year-over-year basis. During the same period last year, the company earned $0.35 earnings per share. As a group, equities research analysts anticipate that Black Hills Co. will post 3.9 EPS for the current fiscal year.

Black Hills Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Monday, August 19th were given 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 4.21%. Black Hills’s dividend payout ratio (DPR) is currently 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.