Allspring Global Investments Holdings LLC Sells 1,645 Shares of Black Hills Co. (NYSE:BKH)

Allspring Global Investments Holdings LLC lessened its holdings in shares of Black Hills Co. (NYSE:BKH) by 23.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,484 shares of the utilities provider’s stock after selling 1,645 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Black Hills were worth $296,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BKH. Vanguard Group Inc. raised its stake in Black Hills by 3.7% during the 3rd quarter. Vanguard Group Inc. now owns 7,821,296 shares of the utilities provider’s stock valued at $395,679,000 after purchasing an additional 279,987 shares during the period. Assenagon Asset Management S.A. raised its stake in Black Hills by 640.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 256,527 shares of the utilities provider’s stock valued at $13,840,000 after purchasing an additional 221,898 shares during the period. Hunter Perkins Capital Management LLC raised its stake in Black Hills by 331.1% during the 3rd quarter. Hunter Perkins Capital Management LLC now owns 252,050 shares of the utilities provider’s stock valued at $12,751,000 after purchasing an additional 193,578 shares during the period. Fuller & Thaler Asset Management Inc. raised its stake in Black Hills by 16.3% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,344,162 shares of the utilities provider’s stock valued at $68,001,000 after purchasing an additional 188,266 shares during the period. Finally, WealthPlan Investment Management LLC raised its stake in Black Hills by 10,111.4% during the 3rd quarter. WealthPlan Investment Management LLC now owns 176,146 shares of the utilities provider’s stock valued at $8,911,000 after purchasing an additional 174,421 shares during the period. Institutional investors own 86.71% of the company’s stock.

Wall Street Analysts Forecast Growth

BKH has been the subject of several research analyst reports. StockNews.com cut Black Hills from a “hold” rating to a “sell” rating in a report on Thursday, March 28th. Scotiabank cut their price target 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, Royal Bank of Canada cut their price target on Black Hills from $61.00 to $57.00 and set a “sector perform” rating for the company in a report 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $55.00.

Black Hills Price Performance

Shares of Black Hills stock opened at $53.86 on Friday. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of 13.74 and a beta of 0.64. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.56 and a current ratio of 0.70. The stock has a 50 day moving average price of $52.93 and a 200-day moving average price of $52.24. Black Hills Co. has a one year low of $46.43 and a one year high of $66.85.

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

Black Hills Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 17th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date of this dividend is Thursday, May 16th. Black Hills’s dividend payout ratio (DPR) is 66.33%.

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.