Bank of Montreal Can Sells 1,045 Shares of Black Hills Corporation $BKH

Bank of Montreal Can trimmed its stake in Black Hills Corporation (NYSE:BKH) by 5.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,374 shares of the utilities provider’s stock after selling 1,045 shares during the period. Bank of Montreal Can’s holdings in Black Hills were worth $1,087,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of BKH. IMA Advisory Services Inc. acquired a new stake in shares of Black Hills in the 1st quarter valued at $30,000. Clearstead Trust LLC bought a new position in Black Hills during the 1st quarter valued at about $30,000. Spire Wealth Management boosted its position in Black Hills by 4,115.4% in the second quarter. Spire Wealth Management now owns 548 shares of the utilities provider’s stock valued at $31,000 after buying an additional 535 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in Black Hills in the second quarter valued at about $43,000. Finally, Hilltop National Bank bought a new stake in Black Hills during the second quarter worth about $50,000. 86.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Black Hills news, CFO Kimberly F. Nooney sold 14,500 shares of Black Hills stock in a transaction on Monday, November 10th. The shares were sold at an average price of $70.70, for a total transaction of $1,025,150.00. Following the completion of the sale, the chief financial officer owned 34,621 shares of the company’s stock, valued at approximately $2,447,704.70. The trade was a 29.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.63% of the company’s stock.

Black Hills Price Performance

Black Hills stock opened at $69.81 on Friday. The business’s 50-day simple moving average is $62.76 and its 200 day simple moving average is $59.87. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 1.06. The stock has a market cap of $5.09 billion, a price-to-earnings ratio of 17.58, a P/E/G ratio of 2.95 and a beta of 0.76. Black Hills Corporation has a 12-month low of $54.92 and a 12-month high of $72.22.

Black Hills (NYSE:BKH) last released its earnings results on Thursday, November 6th. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.45. The company had revenue of $430.20 million for the quarter, compared to the consensus estimate of $439.96 million. Black Hills had a net margin of 12.68% and a return on equity of 7.81%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.35 EPS. As a group, research analysts anticipate that Black Hills Corporation will post 4.12 earnings per share for the current year.

Black Hills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be paid a $0.676 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $2.70 dividend on an annualized basis and a yield of 3.9%. Black Hills’s dividend payout ratio (DPR) is presently 68.18%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Black Hills from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. Scotiabank upgraded Black Hills from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from $66.00 to $81.00 in a research report on Friday, November 7th. Finally, Bank of America raised Black Hills from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $57.00 to $64.00 in a research note on Wednesday, August 20th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $71.00.

Black Hills Company Profile

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.