Lesa Sroufe & Co acquired a new position in shares of Black Hills Co. (NYSE:BKH - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 43,063 shares of the utilities provider's stock, valued at approximately $2,351,000. Black Hills comprises about 2.2% of Lesa Sroufe & Co's investment portfolio, making the stock its 18th largest position. Lesa Sroufe & Co owned approximately 0.06% of Black Hills as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Black Hills by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 8,143,567 shares of the utilities provider's stock worth $439,345,000 after purchasing an additional 322,271 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of Black Hills by 17.1% in the 4th quarter. Capital Research Global Investors now owns 3,251,722 shares of the utilities provider's stock worth $175,430,000 after acquiring an additional 475,768 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Black Hills by 0.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 904,220 shares of the utilities provider's stock worth $48,783,000 after acquiring an additional 3,949 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Black Hills by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 780,510 shares of the utilities provider's stock worth $42,109,000 after acquiring an additional 29,141 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Black Hills by 36.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 755,095 shares of the utilities provider's stock worth $40,737,000 after acquiring an additional 203,340 shares during the period. 86.71% of the stock is owned by hedge funds and other institutional investors.
Black Hills Price Performance
Shares of BKH stock traded up $2.42 during mid-day trading on Thursday, reaching $56.58. The stock had a trading volume of 503,079 shares, compared to its average volume of 498,185. Black Hills Co. has a 12-month low of $46.43 and a 12-month high of $61.94. The company has a current ratio of 0.73, a quick ratio of 0.61 and a debt-to-equity ratio of 1.11. The business has a 50-day simple moving average of $54.79 and a 200 day simple moving average of $53.53. The company has a market cap of $3.90 billion, a P/E ratio of 13.94 and a beta of 0.69.
Black Hills (NYSE:BKH - Get Free Report) last posted its earnings results on Wednesday, May 8th. The utilities provider reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.17. The firm had revenue of $726.40 million during the quarter, compared to the consensus estimate of $683.00 million. Black Hills had a net margin of 12.92% and a return on equity of 8.37%. The firm's revenue for the quarter was down 21.1% on a year-over-year basis. During the same period last year, the firm posted $1.73 EPS. On average, sell-side analysts anticipate that Black Hills Co. will post 3.92 earnings per share for the current year.
Black Hills Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 17th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date was Thursday, May 16th. Black Hills's payout ratio is currently 64.04%.
Analyst Upgrades and Downgrades
Several analysts have recently commented on BKH shares. StockNews.com upgraded shares of Black Hills from a "sell" rating to a "hold" rating in a research note on Thursday, May 9th. Mizuho raised their target price on shares of Black Hills from $53.00 to $57.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 4th. Wells Fargo & Company raised their target price on shares of Black Hills from $56.00 to $61.00 and gave the stock an "equal weight" rating in a research note on Friday, May 10th. Finally, Scotiabank reduced their target price on shares of Black Hills from $58.00 to $54.00 and set a "sector perform" rating for the company in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $55.60.
Get Our Latest Stock Analysis on BKH
Insiders Place Their Bets
In other Black Hills news, Director Rebecca B. Roberts sold 3,094 shares of Black Hills stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $54.84, for a total transaction of $169,674.96. Following the completion of the transaction, the director now owns 7,956 shares in the company, valued at $436,307.04. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.63% of the stock is currently owned by company insiders.
Black Hills Company Profile
(
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.
See Also
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:BKH - Free Report).
![Institutional Ownership by Quarter for Black Hills (NYSE:BKH)](https://www.marketbeat.com/scripts/SECFilingChart.ashx?Prefix=NYSE&Symbol=BKH)
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Black Hills, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Black Hills wasn't on the list.
While Black Hills currently has a "Reduce" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we'll send you MarketBeat's guide to investing in electric vehicle technologies (EV) and which EV stocks show the most promise.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.