Cwm LLC Trims Stake in Black Hills Corporation (NYSE:BKH)

Cwm LLC lowered its stake in Black Hills Corporation (NYSE:BKH) by 17.9% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,863 shares of the utilities provider’s stock after selling 1,281 shares during the quarter. Cwm LLC’s holdings in Black Hills were worth $356,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Virtu Financial LLC purchased a new position in shares of Black Hills during the 4th quarter worth $335,000. Sei Investments Co. lifted its stake in shares of Black Hills by 25.9% during the 4th quarter. Sei Investments Co. now owns 22,304 shares of the utilities provider’s stock worth $1,305,000 after purchasing an additional 4,589 shares during the period. LPL Financial LLC lifted its stake in shares of Black Hills by 11.7% during the 4th quarter. LPL Financial LLC now owns 32,591 shares of the utilities provider’s stock worth $1,907,000 after purchasing an additional 3,422 shares during the period. Vanguard Group Inc. lifted its stake in shares of Black Hills by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 8,602,223 shares of the utilities provider’s stock worth $503,402,000 after purchasing an additional 37,790 shares during the period. Finally, Segall Bryant & Hamill LLC lifted its stake in shares of Black Hills by 46.5% during the 4th quarter. Segall Bryant & Hamill LLC now owns 35,056 shares of the utilities provider’s stock worth $2,051,000 after purchasing an additional 11,120 shares during the period. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Analysts Set New Price Targets

Separately, BMO Capital Markets started coverage on Black Hills in a research note on Tuesday, May 13th. They set an “outperform” rating and a $68.00 price target on the stock.

Black Hills Trading Up 0.8%

Shares of Black Hills stock opened at $56.72 on Friday. Black Hills Corporation has a fifty-two week low of $54.92 and a fifty-two week high of $65.59. The firm has a market cap of $4.11 billion, a PE ratio of 14.47, a P/E/G ratio of 2.61 and a beta of 0.70. The business’s fifty day moving average is $57.14 and its two-hundred day moving average is $58.63. The company has a quick ratio of 0.62, a current ratio of 0.76 and a debt-to-equity ratio of 1.06.

Black Hills (NYSE:BKH) last issued its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $1.87 earnings per share for the quarter, missing analysts’ consensus estimates of $1.92 by ($0.05). The business had revenue of $805.20 million for the quarter, compared to analysts’ expectations of $729.73 million. Black Hills had a return on equity of 7.83% and a net margin of 12.67%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.87 EPS. Analysts anticipate that Black Hills Corporation will post 4.12 earnings per share for the current year.

Black Hills Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be issued a dividend of $0.676 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.77%. Black Hills’s payout ratio is 68.88%.

About Black Hills

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.