John G Ullman & Associates Inc. decreased its holdings in shares of Black Hills Corporation (NYSE:BKH – Free Report) by 1.8% in the second quarter, Holdings Channel.com reports. The firm owned 52,941 shares of the utilities provider’s stock after selling 950 shares during the period. John G Ullman & Associates Inc.’s holdings in Black Hills were worth $2,970,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. increased its stake in shares of Black Hills by 1.9% during the first quarter. Principal Financial Group Inc. now owns 215,402 shares of the utilities provider’s stock valued at $13,064,000 after purchasing an additional 4,077 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Black Hills by 15.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,918 shares of the utilities provider’s stock valued at $480,000 after purchasing an additional 1,087 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Black Hills by 215.5% during the first quarter. Farther Finance Advisors LLC now owns 1,647 shares of the utilities provider’s stock valued at $100,000 after acquiring an additional 1,125 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Black Hills by 59.2% during the first quarter. GAMMA Investing LLC now owns 605 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 225 shares in the last quarter. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Black Hills during the first quarter valued at approximately $808,000. Institutional investors own 86.71% of the company’s stock.
Black Hills Trading Up 1.1%
NYSE:BKH opened at $63.06 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 1.06. Black Hills Corporation has a 12 month low of $54.92 and a 12 month high of $65.59. The company has a market cap of $4.59 billion, a PE ratio of 15.88, a price-to-earnings-growth ratio of 2.92 and a beta of 0.73. The company has a 50 day simple moving average of $60.20 and a two-hundred day simple moving average of $58.84.
Black Hills Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were given a $0.676 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend was Monday, August 18th. Black Hills’s payout ratio is 68.01%.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on the stock. Bank of America raised shares of Black Hills from an “underperform” rating to a “neutral” rating and raised their price target for the company from $57.00 to $64.00 in a research report on Wednesday, August 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Black Hills in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Black Hills presently has a consensus rating of “Hold” and an average target price of $66.00.
View Our Latest Analysis on Black Hills
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.
Further Reading
- Five stocks we like better than Black Hills
- Best Energy Stocks – Energy Stocks to Buy Now
- Johnson & Johnson’s M&A Strategy Is the Real Story for Investors
- Why Are Stock Sectors Important to Successful Investing?
- Tesla: Some Analysts Are Calling for A 30% Drop—Time to Panic?
- Stock Market Upgrades: What Are They?
- Hedge Funds Flip on the Dollar—A Buy Signal for These 3 Stocks?
Want to see what other hedge funds are holding BKH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Black Hills Corporation (NYSE:BKH – Free Report).
Receive News & Ratings for Black Hills Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Black Hills and related companies with MarketBeat.com's FREE daily email newsletter.