American International Group Inc. Sells 2,422 Shares of Black Hills Co. (NYSE:BKH)

American International Group Inc. lowered its holdings in Black Hills Co. (NYSE:BKHFree Report) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 124,851 shares of the utilities provider’s stock after selling 2,422 shares during the quarter. American International Group Inc. owned approximately 0.18% of Black Hills worth $6,736,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Parallel Advisors LLC raised its stake in shares of Black Hills by 53.8% during the 4th quarter. Parallel Advisors LLC now owns 752 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 263 shares in the last quarter. Allworth Financial LP raised its stake in shares of Black Hills by 101.2% during the 4th quarter. Allworth Financial LP now owns 807 shares of the utilities provider’s stock worth $44,000 after acquiring an additional 406 shares in the last quarter. CWM LLC raised its stake in shares of Black Hills by 564.3% during the 4th quarter. CWM LLC now owns 2,046 shares of the utilities provider’s stock worth $110,000 after acquiring an additional 1,738 shares in the last quarter. First Personal Financial Services bought a new position in shares of Black Hills during the 4th quarter worth approximately $175,000. Finally, Covestor Ltd raised its stake in shares of Black Hills by 1,042.6% during the 3rd quarter. Covestor Ltd now owns 3,245 shares of the utilities provider’s stock worth $164,000 after acquiring an additional 2,961 shares in the last quarter. Institutional investors own 86.71% of the company’s stock.

Insider Buying and Selling

In related news, Director Rebecca B. Roberts sold 3,094 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $54.84, for a total transaction of $169,674.96. Following the sale, the director now directly owns 7,956 shares of the company’s stock, valued at $436,307.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.63% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

BKH has been the subject of several recent analyst reports. Scotiabank reduced their price objective on shares of Black Hills from $58.00 to $54.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. Mizuho boosted their target price on shares of Black Hills from $53.00 to $57.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 4th. Wells Fargo & Company boosted their target price on shares of Black Hills from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Friday, May 10th. Finally, StockNews.com raised shares of Black Hills from a “sell” rating to a “hold” rating in a research report on Thursday, May 9th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, Black Hills presently has a consensus rating of “Hold” and an average target price of $55.60.

Read Our Latest Analysis on BKH

Black Hills Stock Down 0.3 %

BKH stock opened at $53.46 on Tuesday. The firm’s fifty day simple moving average is $54.86 and its 200-day simple moving average is $53.53. The company has a market capitalization of $3.68 billion, a P/E ratio of 13.17 and a beta of 0.69. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.73 and a quick ratio of 0.61. Black Hills Co. has a 12 month low of $46.43 and a 12 month high of $63.51.

Black Hills (NYSE:BKHGet Free Report) last released its quarterly earnings data on Wednesday, May 8th. The utilities provider reported $1.87 EPS for the quarter, beating the consensus estimate of $1.70 by $0.17. The business had revenue of $726.40 million for the quarter, compared to the consensus estimate of $683.00 million. Black Hills had a net margin of 12.92% and a return on equity of 8.37%. The business’s revenue for the quarter was down 21.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.73 EPS.

Black Hills Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Friday, May 17th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date was Thursday, May 16th. Black Hills’s dividend payout ratio (DPR) is presently 64.04%.

Black Hills Company Profile

(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.

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

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