Assenagon Asset Management S.A. Has $18.19 Million Stake in Black Hills Co. (NYSE:BKH)

Assenagon Asset Management S.A. trimmed its holdings in shares of Black Hills Co. (NYSE:BKH - Free Report) by 9.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 297,633 shares of the utilities provider's stock after selling 31,845 shares during the period. Assenagon Asset Management S.A. owned about 0.43% of Black Hills worth $18,191,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Pathway Financial Advisers LLC acquired a new position in Black Hills during the first quarter worth $31,000. Sunbelt Securities Inc. acquired a new position in shares of Black Hills during the 1st quarter worth about $33,000. Blue Trust Inc. raised its holdings in shares of Black Hills by 84.9% in the 3rd quarter. Blue Trust Inc. now owns 577 shares of the utilities provider's stock valued at $35,000 after purchasing an additional 265 shares during the period. Hexagon Capital Partners LLC lifted its stake in Black Hills by 77.2% in the 1st quarter. Hexagon Capital Partners LLC now owns 732 shares of the utilities provider's stock valued at $40,000 after purchasing an additional 319 shares during the last quarter. Finally, Quarry LP lifted its stake in Black Hills by 158.0% in the 2nd quarter. Quarry LP now owns 841 shares of the utilities provider's stock valued at $46,000 after purchasing an additional 515 shares during the last quarter. Institutional investors own 86.71% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on BKH. Wells Fargo & Company upped their price objective on Black Hills from $61.00 to $64.00 and gave the company an "equal weight" rating in a research note on Friday, August 2nd. Scotiabank increased their price target on Black Hills from $54.00 to $63.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat.com, Black Hills presently has an average rating of "Hold" and an average price target of $58.00.

Black Hills Stock Performance

Shares of BKH traded down $0.55 during midday trading on Friday, reaching $59.87. 315,766 shares of the stock were exchanged, compared to its average volume of 468,479. The stock's 50 day simple moving average is $59.95 and its 200 day simple moving average is $57.05. The company has a market cap of $4.13 billion, a P/E ratio of 14.75, a PEG ratio of 4.19 and a beta of 0.69. Black Hills Co. has a twelve month low of $47.49 and a twelve month high of $62.20. The company has a quick ratio of 0.94, a current ratio of 1.06 and a debt-to-equity ratio of 1.23.

Black Hills (NYSE:BKH - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.04. The company had revenue of $402.60 million during the quarter, compared to the consensus estimate of $498.00 million. Black Hills had a net margin of 12.96% and a return on equity of 8.21%. The firm's quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.35 earnings per share. On average, sell-side analysts expect that Black Hills Co. will post 3.9 earnings per share for the current year.

About Black Hills

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.