Arizona State Retirement System Sells 297 Shares of Black Hills Co. (NYSE:BKH)

Arizona State Retirement System lowered its position in shares of Black Hills Co. (NYSE:BKH) by 1.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,761 shares of the utilities provider’s stock after selling 297 shares during the quarter. Arizona State Retirement System’s holdings in Black Hills were worth $1,012,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. State of Wyoming bought a new stake in shares of Black Hills in the 2nd quarter worth approximately $27,000. ST Germain D J Co. Inc. bought a new stake in shares of Black Hills in the 2nd quarter worth approximately $30,000. Geneos Wealth Management Inc. raised its holdings in shares of Black Hills by 87.3% in the 3rd quarter. Geneos Wealth Management Inc. now owns 562 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 262 shares during the period. Belpointe Asset Management LLC raised its holdings 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 purchasing an additional 246 shares during the period. Finally, Lindbrook Capital LLC raised its holdings in shares of Black Hills by 678.4% in the 3rd quarter. Lindbrook Capital LLC now owns 685 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 597 shares during the period. Institutional investors own 86.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BKH shares. Scotiabank lifted their price target on shares of Black Hills from $57.00 to $58.00 and gave the stock a “sector perform” rating in a report on Friday, February 9th. StockNews.com cut shares of Black Hills from a “hold” rating to a “sell” rating in a report on Thursday, March 28th. Finally, Royal Bank of Canada reduced their price objective on shares of Black Hills from $61.00 to $57.00 and set a “sector perform” rating for the company in a research note on Friday, February 9th. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Black Hills currently has an average rating of “Hold” and a consensus price target of $55.80.

Black Hills Stock Down 0.5 %

Black Hills stock opened at $52.00 on Tuesday. Black Hills Co. has a 1-year low of $46.43 and a 1-year high of $66.85. The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of 13.27 and a beta of 0.64. The company has a current ratio of 0.70, a quick ratio of 0.56 and a debt-to-equity ratio of 1.15. The firm has a 50 day simple moving average of $52.56 and a 200 day simple moving average of $51.99.

Black Hills (NYSE:BKH) last released its quarterly earnings results on Thursday, February 8th. The utilities provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.11. The firm had revenue of $591.70 million during the quarter, compared to analyst estimates of $863.67 million. Black Hills had a net margin of 11.25% and a return on equity of 8.09%. During the same period in the previous year, the business earned $1.11 EPS. On average, analysts predict that Black Hills Co. will post 3.9 earnings per share for the current year.

Black Hills Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were given a dividend of $0.65 per share. This is a positive change from Black Hills’s previous quarterly dividend of $0.63. This represents a $2.60 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date of this dividend was Thursday, February 15th. Black Hills’s payout ratio is 66.33%.

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.