Black Hills Co. (NYSE:BKH) Shares Purchased by Congress Asset Management Co. MA

Congress Asset Management Co. MA boosted its stake in shares of Black Hills Co. (NYSE:BKH) by 1.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 55,625 shares of the utilities provider’s stock after acquiring an additional 702 shares during the period. Congress Asset Management Co. MA’s holdings in Black Hills were worth $3,037,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rise Advisors LLC acquired a new position in shares of Black Hills during the 1st quarter worth about $31,000. Parallel Advisors LLC increased its stake in Black Hills by 53.8% during the 4th quarter. Parallel Advisors LLC now owns 752 shares of the utilities provider’s stock worth $41,000 after buying an additional 263 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Black Hills by 101.2% during the fourth quarter. Allworth Financial LP now owns 807 shares of the utilities provider’s stock valued at $44,000 after acquiring an additional 406 shares during the last quarter. CWM LLC lifted its position in shares of Black Hills by 564.3% in the fourth quarter. CWM LLC now owns 2,046 shares of the utilities provider’s stock valued at $110,000 after acquiring an additional 1,738 shares in the last quarter. Finally, ICA Group Wealth Management LLC purchased a new stake in shares of Black Hills during the fourth quarter worth approximately $121,000. 86.71% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Rebecca B. Roberts sold 3,094 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $54.84, for a total transaction of $169,674.96. Following the completion of the sale, the director now owns 7,956 shares in the company, valued at $436,307.04. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.61% of the company’s stock.

Black Hills Price Performance

BKH stock opened at $53.10 on Friday. The business’s fifty day moving average price is $54.71 and its 200 day moving average price is $53.56. Black Hills Co. has a 12-month low of $46.43 and a 12-month high of $61.94. The company has a market capitalization of $3.66 billion, a PE ratio of 13.08 and a beta of 0.69. The company has a current ratio of 0.73, a quick ratio of 0.61 and a debt-to-equity ratio of 1.11.

Black Hills (NYSE:BKH) last issued its quarterly earnings results on Wednesday, May 8th. The utilities provider reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.17. The company had revenue of $726.40 million for the quarter, compared to analyst estimates of $683.00 million. Black Hills had a net margin of 12.92% and a return on equity of 8.37%. The business’s revenue for the quarter was down 21.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.73 earnings per share.

Black Hills Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 17th were given a $0.65 dividend. The ex-dividend date was Thursday, May 16th. This represents a $2.60 annualized dividend and a yield of 4.90%. Black Hills’s dividend payout ratio is presently 64.04%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BKH shares. Wells Fargo & Company raised their price objective on Black Hills from $56.00 to $61.00 and gave the company an “equal weight” rating in a report on Friday, May 10th. StockNews.com raised Black Hills from a “sell” rating to a “hold” rating in a research note on Thursday, May 9th. Scotiabank dropped their target price on Black Hills from $58.00 to $54.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. Finally, Mizuho lifted their price target on Black Hills from $53.00 to $57.00 and gave the stock a “neutral” rating in a report on Tuesday, June 4th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $55.60.

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.