Diversified Trust Co Sells 3,727 Shares of Black Hills Co. (NYSE:BKH)

Diversified Trust Co decreased its stake in Black Hills Co. (NYSE:BKH) by 9.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 36,774 shares of the utilities provider’s stock after selling 3,727 shares during the period. Diversified Trust Co owned 0.05% of Black Hills worth $2,008,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new stake in shares of Black Hills in the 1st quarter worth approximately $31,000. Sunbelt Securities Inc. purchased a new position in shares of Black Hills during the 1st quarter valued at $33,000. Riverview Trust Co bought a new position in shares of Black Hills during the 1st quarter worth $38,000. Parallel Advisors LLC raised its stake in Black Hills by 53.8% in the 4th quarter. Parallel Advisors LLC now owns 752 shares of the utilities provider’s stock valued at $41,000 after acquiring an additional 263 shares during the period. Finally, Allworth Financial LP boosted its position in Black Hills by 101.2% during the fourth quarter. Allworth Financial LP now owns 807 shares of the utilities provider’s stock worth $44,000 after purchasing an additional 406 shares during the period. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

Black Hills Price Performance

Black Hills stock traded down $0.10 during midday trading on Monday, hitting $54.28. 108,394 shares of the company’s stock were exchanged, compared to its average volume of 504,539. The stock has a 50-day moving average price of $54.88 and a two-hundred day moving average price of $53.54. Black Hills Co. has a 52-week low of $46.43 and a 52-week high of $61.94. The company has a market cap of $3.74 billion, a P/E ratio of 13.39 and a beta of 0.69. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.61 and a current ratio of 0.73.

Black Hills (NYSE:BKH) last posted its quarterly earnings data on Wednesday, May 8th. The utilities provider reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.17. Black Hills had a net margin of 12.92% and a return on equity of 8.37%. The company had revenue of $726.40 million for the quarter, compared to analysts’ expectations of $683.00 million. During the same period in the prior year, the business earned $1.73 earnings per share. Black Hills’s revenue for the quarter was down 21.1% compared to the same quarter last year. On average, equities research analysts forecast that Black Hills Co. will post 3.92 earnings per share for the current year.

Black Hills Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Investors 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 4.79%. Black Hills’s dividend payout ratio (DPR) is presently 64.04%.

Insider Activity at Black Hills

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 value of $169,674.96. Following the completion of the sale, the director now owns 7,956 shares in the company, valued at approximately $436,307.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.63% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

Black Hills 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.