Black Hills Co. (NYSE:BKH) Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. raised its stake in Black Hills Co. (NYSE:BKH – Get Rating) by 15.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 12,700 shares of the utilities provider’s stock after buying an additional 1,697 shares during the quarter. Federated Hermes Inc.’s holdings in Black Hills were worth $860,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in BKH. Great West Life Assurance Co. Can increased its holdings in Black Hills by 11.1% in the first quarter. Great West Life Assurance Co. Can now owns 36,590 shares of the utilities provider’s stock valued at $2,896,000 after buying an additional 3,657 shares in the last quarter. Yousif Capital Management LLC increased its holdings in Black Hills by 4.4% in the first quarter. Yousif Capital Management LLC now owns 34,426 shares of the utilities provider’s stock valued at $2,651,000 after buying an additional 1,466 shares in the last quarter. Raymond James Trust N.A. increased its holdings in Black Hills by 8.2% in the first quarter. Raymond James Trust N.A. now owns 8,190 shares of the utilities provider’s stock valued at $631,000 after buying an additional 618 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Black Hills by 7.2% in the first quarter. Dimensional Fund Advisors LP now owns 748,590 shares of the utilities provider’s stock valued at $57,656,000 after buying an additional 50,038 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its stake in shares of Black Hills by 1.1% during the 1st quarter. Allianz Asset Management GmbH now owns 13,420 shares of the utilities provider’s stock worth $1,034,000 after purchasing an additional 151 shares in the last quarter. 88.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Royal Bank of Canada cut shares of Black Hills from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $81.00 to $68.00 in a research note on Friday, February 10th. Scotiabank cut shares of Black Hills from a “sector outperform” rating to a “sector perform” rating and set a $67.00 price objective for the company. in a research note on Wednesday, February 8th. Wells Fargo & Company dropped their price objective on shares of Black Hills from $71.00 to $65.00 and set an “equal weight” rating for the company in a research note on Thursday, February 9th. Mizuho cut shares of Black Hills from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $71.00 to $60.00 in a research note on Thursday, February 9th. Finally, Sidoti lowered shares of Black Hills from a “buy” rating to a “neutral” rating and set a $67.00 target price on the stock. in a research report on Thursday, February 9th. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat, Black Hills presently has an average rating of “Hold” and a consensus price target of $67.29.

Black Hills Stock Up 0.9 %

Shares of NYSE BKH opened at $60.40 on Tuesday. The firm has a market cap of $3.99 billion, a P/E ratio of 15.14, a price-to-earnings-growth ratio of 7.30 and a beta of 0.57. The firm’s 50 day moving average price is $67.23 and its 200 day moving average price is $68.75. Black Hills Co. has a 1 year low of $59.08 and a 1 year high of $80.95. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.52 and a current ratio of 0.64.

Black Hills (NYSE:BKH – Get Rating) last announced its quarterly earnings results on Wednesday, February 8th. The utilities provider reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.06). The company had revenue of $791.40 million during the quarter, compared to analyst estimates of $657.67 million. Black Hills had a net margin of 10.13% and a return on equity of 8.59%. The firm’s revenue for the quarter was up 40.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.11 EPS. As a group, sell-side analysts anticipate that Black Hills Co. will post 3.73 earnings per share for the current year.

Black Hills Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Tuesday, February 14th were issued a $0.625 dividend. The ex-dividend date of this dividend was Monday, February 13th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 4.14%. Black Hills’s dividend payout ratio (DPR) is presently 62.66%.

About Black Hills

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Black Hills Corp. is a diversified energy company. It operates through the following segments: Electric Utilities, Gas Utilities, and Corporate and Other. The Electric Utilities segment generates, transmits, and distributes electricity in Colorado, Montana, South Dakota, and Wyoming. The Gas Utilities segment provides natural gas in Arkansas, Colorado, Iowa, Kansas, Nebraska, and Wyoming.