Black Hills Co. (NYSE:BKH) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lowered its position in shares of Black Hills Co. (NYSE:BKH) by 3.4% in the third quarter, HoldingsChannel.com reports. The fund owned 48,923 shares of the utilities provider’s stock after selling 1,713 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Black Hills were worth $2,990,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Pathway Financial Advisers LLC purchased a new stake in Black Hills in the first quarter valued at approximately $31,000. Blue Trust Inc. boosted 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 acquiring an additional 265 shares during the last quarter. Quarry LP increased its stake in shares of Black Hills by 158.0% in the second quarter. Quarry LP now owns 841 shares of the utilities provider’s stock worth $46,000 after acquiring an additional 515 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Black Hills by 972.3% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 890 shares of the utilities provider’s stock worth $48,000 after purchasing an additional 807 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in Black Hills during the first quarter valued at $83,000. 86.71% of the stock is owned by institutional investors and hedge funds.

Black Hills Stock Down 2.1 %

Shares of BKH opened at $57.92 on Friday. The firm has a market cap of $4.04 billion, a P/E ratio of 14.34, a PEG ratio of 4.30 and a beta of 0.69. Black Hills Co. has a 12 month low of $48.27 and a 12 month high of $62.20. The stock’s 50 day moving average is $60.12 and its two-hundred day moving average is $57.24. The company has a current ratio of 1.06, a quick ratio of 0.94 and a debt-to-equity ratio of 1.23.

Black Hills (NYSE:BKH) last issued its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.33 EPS for the quarter, topping the consensus estimate of $0.29 by $0.04. The company had revenue of $402.60 million during the quarter, compared to analyst estimates of $498.00 million. Black Hills had a net margin of 12.96% and a return on equity of 8.21%. The firm’s revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 EPS. Analysts predict that Black Hills Co. will post 3.91 earnings per share for the current fiscal year.

Black Hills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Monday, November 18th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.60 annualized dividend and a dividend yield of 4.49%. Black Hills’s dividend payout ratio (DPR) is presently 64.36%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Wells Fargo & Company lifted 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 boosted their price target on Black Hills from $54.00 to $63.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat, Black Hills currently has a consensus rating of “Hold” and an average price target of $58.00.

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.