Assenagon Asset Management S.A. Increases Stock Holdings in Black Hills Co. (NYSE:BKH)

Assenagon Asset Management S.A. lifted its stake in shares of Black Hills Co. (NYSE:BKHFree Report) by 640.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 256,527 shares of the utilities provider’s stock after buying an additional 221,898 shares during the quarter. Assenagon Asset Management S.A. owned about 0.38% of Black Hills worth $13,840,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. State of Wyoming acquired a new position in shares of Black Hills in the 2nd quarter valued at $27,000. Geneos Wealth Management Inc. increased its stake in Black Hills by 87.3% in the third quarter. Geneos Wealth Management Inc. now owns 562 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 262 shares during the period. ST Germain D J Co. Inc. purchased a new stake in shares of Black Hills in the second quarter valued at about $30,000. Lindbrook Capital LLC increased its stake in Black Hills by 678.4% in the 3rd quarter. Lindbrook Capital LLC now owns 685 shares of the utilities provider’s stock valued at $35,000 after buying an additional 597 shares during the period. Finally, Belpointe Asset Management LLC lifted its stake in shares of Black Hills by 60.6% in the 1st quarter. Belpointe Asset Management LLC now owns 652 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 246 shares during the period. Institutional investors and hedge funds own 86.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BKH. Scotiabank boosted their price target on shares of Black Hills from $57.00 to $58.00 and gave the stock a “sector perform” rating in a research note on Friday, February 9th. StockNews.com downgraded shares of Black Hills from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Royal Bank of Canada reduced their target price on Black Hills from $61.00 to $57.00 and set a “sector perform” rating on the stock in a research note on Friday, February 9th. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $55.80.

Get Our Latest Analysis on BKH

Black Hills Trading Up 1.0 %

Shares of Black Hills stock opened at $54.60 on Friday. The firm has a market cap of $3.73 billion, a PE ratio of 13.93 and a beta of 0.64. The company has a quick ratio of 0.56, a current ratio of 0.70 and a debt-to-equity ratio of 1.15. Black Hills Co. has a fifty-two week low of $46.43 and a fifty-two week high of $66.85. The business’s fifty day moving average is $51.97 and its two-hundred day moving average is $52.06.

Black Hills (NYSE:BKHGet Free Report) last released its earnings results on Thursday, February 8th. The utilities provider reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.11. The firm had revenue of $591.70 million for the quarter, compared to the consensus estimate of $863.67 million. Black Hills had a return on equity of 8.09% and a net margin of 11.25%. During the same period in the prior year, the business posted $1.11 earnings per share. Analysts anticipate that Black Hills Co. will post 3.9 earnings per share for the current year.

Black Hills Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 16th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from Black Hills’s previous quarterly dividend of $0.63. Black Hills’s dividend payout ratio (DPR) is 66.33%.

About Black Hills

(Free Report)

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.

Featured Articles

Institutional Ownership by Quarter for Black Hills (NYSE:BKH)

Receive News & Ratings for Black Hills Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Black Hills and related companies with MarketBeat.com's FREE daily email newsletter.