Tompkins Financial Corp Trims Stock Position in Black Hills Co. (NYSE:BKH)

Tompkins Financial Corp cut its stake in shares of Black Hills Co. (NYSE:BKHFree Report) by 15.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,100 shares of the utilities provider’s stock after selling 200 shares during the quarter. Tompkins Financial Corp’s holdings in Black Hills were worth $59,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. purchased a new position in shares of Black Hills during the third quarter worth approximately $1,752,000. First Eagle Investment Management LLC increased its position in shares of Black Hills by 57.0% during the third quarter. First Eagle Investment Management LLC now owns 159,190 shares of the utilities provider’s stock worth $8,053,000 after acquiring an additional 57,820 shares during the period. Guggenheim Capital LLC boosted its stake in shares of Black Hills by 8.1% during the second quarter. Guggenheim Capital LLC now owns 178,675 shares of the utilities provider’s stock valued at $10,767,000 after purchasing an additional 13,335 shares in the last quarter. Tudor Investment Corp Et Al boosted its stake in shares of Black Hills by 200.4% during the third quarter. Tudor Investment Corp Et Al now owns 170,375 shares of the utilities provider’s stock valued at $8,619,000 after purchasing an additional 113,668 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in shares of Black Hills by 10.2% during the second quarter. Nuveen Asset Management LLC now owns 1,086,006 shares of the utilities provider’s stock valued at $65,443,000 after purchasing an additional 100,585 shares in the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Black Hills Price Performance

Shares of BKH opened at $52.14 on Friday. The company has a market cap of $3.56 billion, a price-to-earnings ratio of 13.30 and a beta of 0.64. Black Hills Co. has a twelve month low of $46.43 and a twelve month high of $66.85. The company has a quick ratio of 0.56, a current ratio of 0.70 and a debt-to-equity ratio of 1.15. The company has a 50 day moving average of $52.17 and a two-hundred day moving average of $52.20.

Black Hills (NYSE:BKHGet Free Report) last announced its earnings results on Thursday, February 8th. The utilities provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.11. The company had revenue of $591.70 million during the quarter, compared to the consensus estimate of $863.67 million. Black Hills had a net margin of 11.25% and a return on equity of 8.09%. During the same period last year, the firm earned $1.11 earnings per share. As a group, analysts predict that Black Hills Co. will post 3.9 earnings per share for the current fiscal year.

Black Hills Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were paid a dividend of $0.65 per share. This is an increase from Black Hills’s previous quarterly dividend of $0.63. This represents a $2.60 annualized dividend and a dividend yield of 4.99%. The ex-dividend date was Thursday, February 15th. Black Hills’s payout ratio is presently 66.33%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on BKH shares. Royal Bank of Canada dropped their price objective on shares of Black Hills from $61.00 to $57.00 and set a “sector perform” rating on the stock in a research note on Friday, February 9th. Scotiabank increased their price objective on shares of Black Hills from $57.00 to $58.00 and gave the company a “sector perform” rating in a research note on Friday, February 9th. Mizuho upgraded shares of Black Hills from an “underperform” rating to a “neutral” rating and set a $53.00 price objective on the stock in a research note on Tuesday, November 21st. Finally, Bank of America dropped their price objective on shares of Black Hills from $60.00 to $49.00 and set an “underperform” rating on the stock in a research note on Monday, November 20th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat.com, Black Hills presently has a consensus rating of “Hold” and a consensus target price of $55.80.

View Our Latest Stock Report on Black Hills

About Black Hills

(Free Report)

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.

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

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