Black Hills Corporation $BKH Shares Sold by KBC Group NV

KBC Group NV reduced its holdings in shares of Black Hills Corporation (NYSE:BKH) by 85.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,906 shares of the utilities provider’s stock after selling 11,628 shares during the quarter. KBC Group NV’s holdings in Black Hills were worth $107,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Clearstead Trust LLC acquired a new stake in Black Hills in the first quarter valued at $30,000. IMA Advisory Services Inc. bought a new stake in shares of Black Hills in the 1st quarter worth about $30,000. Spire Wealth Management increased its position in shares of Black Hills by 4,115.4% in the 2nd quarter. Spire Wealth Management now owns 548 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 535 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Black Hills in the 2nd quarter valued at about $43,000. Finally, Hilltop National Bank bought a new position in shares of Black Hills during the second quarter worth about $50,000. Institutional investors and hedge funds own 86.71% of the company’s stock.

Black Hills Stock Performance

Shares of NYSE BKH opened at $70.05 on Friday. 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 firm’s 50-day moving average price is $63.86 and its two-hundred day moving average price is $60.18. Black Hills Corporation has a 52-week low of $54.92 and a 52-week high of $72.22. The stock has a market capitalization of $5.10 billion, a P/E ratio of 17.64, a P/E/G ratio of 2.95 and a beta of 0.76.

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

Black Hills Announces Dividend

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

Insider Transactions at Black Hills

In other Black Hills news, CFO Kimberly F. Nooney sold 14,500 shares of the firm’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $70.70, for a total value of $1,025,150.00. Following the sale, the chief financial officer directly owned 34,621 shares in the company, valued at approximately $2,447,704.70. This trade represents a 29.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.63% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on BKH shares. Scotiabank raised Black Hills from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $66.00 to $81.00 in a report on Friday, November 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Black Hills in a research report on Wednesday. Finally, Bank of America upgraded Black Hills from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $57.00 to $64.00 in a report on Wednesday, August 20th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.