Arizona State Retirement System boosted its holdings in shares of Black Hills Co. (NYSE:BKH – Get Rating) by 1.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,252 shares of the utilities provider’s stock after buying an additional 166 shares during the quarter. Arizona State Retirement System’s holdings in Black Hills were worth $1,329,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in shares of Black Hills by 268.0% in the 4th quarter. JPMorgan Chase & Co. now owns 1,371,966 shares of the utilities provider’s stock valued at $96,820,000 after purchasing an additional 999,129 shares during the last quarter. Guggenheim Capital LLC increased its position in shares of Black Hills by 71.0% in the 4th quarter. Guggenheim Capital LLC now owns 295,421 shares of the utilities provider’s stock valued at $20,848,000 after purchasing an additional 122,695 shares during the last quarter. Coann Capital LLC purchased a new stake in shares of Black Hills in the 4th quarter valued at approximately $7,534,000. Nuveen Asset Management LLC increased its position in shares of Black Hills by 9.6% in the 4th quarter. Nuveen Asset Management LLC now owns 934,573 shares of the utilities provider’s stock valued at $65,953,000 after purchasing an additional 81,672 shares during the last quarter. Finally, Capital World Investors increased its position in shares of Black Hills by 5.2% in the 4th quarter. Capital World Investors now owns 1,561,000 shares of the utilities provider’s stock valued at $110,160,000 after purchasing an additional 77,000 shares during the last quarter. 85.37% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Black Hills news, Director Rebecca B. Roberts sold 500 shares of the firm’s stock in a transaction on Friday, May 20th. The shares were sold at an average price of $73.62, for a total transaction of $36,810.00. Following the transaction, the director now directly owns 6,445 shares of the company’s stock, valued at approximately $474,480.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.71% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Black Hills Trading Down 1.3 %
NYSE BKH opened at $76.22 on Tuesday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.07 and a quick ratio of 0.93. The firm’s fifty day moving average price is $73.05 and its 200 day moving average price is $72.56. The company has a market capitalization of $4.94 billion, a price-to-earnings ratio of 18.91, a price-to-earnings-growth ratio of 3.04 and a beta of 0.49. Black Hills Co. has a 12 month low of $61.95 and a 12 month high of $80.95.
Black Hills (NYSE:BKH – Get Rating) last posted its earnings results on Wednesday, May 4th. The utilities provider reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.19. Black Hills had a net margin of 12.06% and a return on equity of 9.04%. The firm had revenue of $823.60 million for the quarter, compared to the consensus estimate of $657.25 million. During the same period last year, the firm posted $1.54 EPS. The company’s revenue was up 30.0% on a year-over-year basis. On average, sell-side analysts expect that Black Hills Co. will post 4.05 earnings per share for the current fiscal year.
Black Hills Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Thursday, August 18th will be given a dividend of $0.595 per share. This represents a $2.38 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend is Wednesday, August 17th. Black Hills’s payout ratio is currently 59.06%.
Black Hills Company Profile
Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. It operates in two segments, Electric Utilities and Gas Utilities. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 218,000 electric utility customers in Colorado, Montana, South Dakota, and Wyoming; and owns and operates 1,481.5 megawatts of generation capacity and 8,892 miles of electric transmission and distribution lines.
- Get a free copy of the StockNews.com research report on Black Hills (BKH)
- MarketBeat Podcast: Find Investing Opportunities For The Rest of 2022
- Deep Value High Yield Newell Brands Is Ready To Bottom
- The Colgate-Palmolive Growth Outlook Brightens
- These Stocks Outperformed Last Time There Was A Recession
- Does Rivian’s Stock Still Have A Future?
Want More Great Investing Ideas?
- Bear Market Game Plan!
- The 10 Best Stocks to Own in 2022
- 7 Stocks to Buy and Hold Forever
- 3 Stocks to DOUBLE This Year
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.