Amalgamated Bank Has $1.96 Million Stake in Black Hills Co. (NYSE:BKH)

Amalgamated Bank decreased its holdings in Black Hills Co. (NYSE:BKHFree Report) by 3.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,656 shares of the utilities provider’s stock after selling 1,239 shares during the quarter. Amalgamated Bank’s holdings in Black Hills were worth $1,956,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of BKH. State Street Corp grew its stake in shares of Black Hills by 16.1% in the first quarter. State Street Corp now owns 6,059,252 shares of the utilities provider’s stock worth $466,684,000 after purchasing an additional 838,590 shares during the last quarter. Zimmer Partners LP bought a new stake in shares of Black Hills in the second quarter worth $39,326,000. Capital Research Global Investors bought a new stake in shares of Black Hills in the first quarter worth $45,758,000. Macquarie Group Ltd. grew its stake in shares of Black Hills by 14.6% in the second quarter. Macquarie Group Ltd. now owns 2,502,209 shares of the utilities provider’s stock worth $182,085,000 after purchasing an additional 318,024 shares during the last quarter. Finally, Millennium Management LLC boosted its position in Black Hills by 145.2% during the second quarter. Millennium Management LLC now owns 338,736 shares of the utilities provider’s stock valued at $24,650,000 after acquiring an additional 200,587 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

Black Hills Trading Up 2.3 %

BKH opened at $52.82 on Tuesday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.77 and a quick ratio of 0.67. Black Hills Co. has a fifty-two week low of $46.43 and a fifty-two week high of $66.85. The firm has a market capitalization of $3.59 billion, a PE ratio of 13.47 and a beta of 0.65. The company’s 50-day moving average is $53.12 and its 200 day moving average is $52.92.

Black Hills (NYSE:BKHGet Free Report) last posted its earnings results on Thursday, February 8th. The utilities provider reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. Black Hills had a net margin of 11.25% and a return on equity of 8.15%. The company had revenue of $591.70 million for the quarter, compared to analyst estimates of $863.67 million. During the same quarter in the prior year, the business posted $1.11 EPS. As a group, research analysts predict that Black Hills Co. will post 3.9 earnings per share for the current fiscal year.

Black Hills Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 16th will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 4.92%. This is an increase from Black Hills’s previous quarterly dividend of $0.63. The ex-dividend date is Thursday, February 15th. Black Hills’s dividend payout ratio is presently 63.78%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Bank of America cut their price target on shares of Black Hills from $60.00 to $49.00 and set an “underperform” rating on the stock in a research report on Monday, November 20th. Mizuho raised shares of Black Hills from an “underperform” rating to a “neutral” rating and set a $53.00 price target on the stock in a research report on Tuesday, November 21st. Royal Bank of Canada cut their price target on shares of Black Hills from $61.00 to $57.00 and set a “sector perform” rating on the stock in a research report on Friday. Finally, Scotiabank upped their price target on shares of Black Hills from $57.00 to $58.00 and gave the company a “sector perform” rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $55.80.

View Our Latest Report on BKH

Black Hills Profile

(Free Report)

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 220,000 electric utility customers in Colorado, Montana, South Dakota, and Wyoming; and owns and operates 1,482 megawatts of generation capacity and 9,024 miles of electric transmission and distribution lines.

Featured Stories

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 Co. (NYSE:BKHFree Report).

Institutional Ownership by Quarter for Black Hills (NYSE:BKH)

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.