Allspring Global Investments Holdings LLC Has $706,000 Stock Position in Black Hills Co. (NYSE:BKH)

Allspring Global Investments Holdings LLC increased its stake in shares of Black Hills Co. (NYSE:BKHFree Report) by 135.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,935 shares of the utilities provider’s stock after buying an additional 7,451 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Black Hills were worth $706,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rise Advisors LLC bought a new stake in Black Hills during the 1st quarter worth about $31,000. Sunbelt Securities Inc. bought a new stake in Black Hills during the 1st quarter worth about $33,000. Riverview Trust Co bought a new stake in Black Hills during the 1st quarter worth about $38,000. Hexagon Capital Partners LLC raised its holdings in Black Hills by 77.2% during the 1st quarter. Hexagon Capital Partners LLC now owns 732 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 319 shares during the last quarter. Finally, Parallel Advisors LLC raised its holdings in 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 purchasing an additional 263 shares during the last quarter. Institutional investors and hedge funds own 86.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Mizuho boosted their price objective on Black Hills from $53.00 to $57.00 and gave the stock a “neutral” rating in a report on Tuesday, June 4th. Wells Fargo & Company boosted their price objective on Black Hills from $56.00 to $61.00 and gave the stock an “equal weight” rating in a report on Friday, May 10th. StockNews.com raised Black Hills from a “sell” rating to a “hold” rating in a research note on Thursday, May 9th. Finally, Scotiabank lowered their price target on 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. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $55.60.

Read Our Latest Report on BKH

Insiders Place Their Bets

In other Black Hills news, Director Rebecca B. Roberts sold 3,094 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $436,307.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.63% of the company’s stock.

Black Hills Stock Performance

Shares of BKH stock opened at $53.42 on Tuesday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.73 and a quick ratio of 0.61. The stock has a market cap of $3.68 billion, a PE ratio of 13.16 and a beta of 0.69. The stock has a 50-day moving average of $54.84 and a 200-day moving average of $53.51. Black Hills Co. has a one year low of $46.43 and a one year high of $61.94.

Black Hills (NYSE:BKHGet Free Report) last announced its earnings results on Wednesday, May 8th. The utilities provider reported $1.87 EPS for the quarter, topping the consensus estimate of $1.70 by $0.17. The firm 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 quarterly revenue was down 21.1% on a year-over-year basis. During the same period last year, the company posted $1.73 EPS. As a group, sell-side analysts expect that Black Hills Co. will post 3.92 earnings per share for the current year.

Black Hills Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 17th were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.60 annualized dividend and a yield of 4.87%. Black Hills’s dividend payout ratio (DPR) is currently 64.04%.

Black Hills 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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