Allianz Asset Management GmbH Trims Stock Position in Black Hills Corporation (NYSE:BKH)

Allianz Asset Management GmbH trimmed its stake in shares of Black Hills Corporation (NYSE:BKH) by 9.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,490 shares of the utilities provider’s stock after selling 2,066 shares during the quarter. Allianz Asset Management GmbH’s holdings in Black Hills were worth $1,243,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Sei Investments Co. increased its stake in shares of Black Hills by 25.9% during the fourth quarter. Sei Investments Co. now owns 22,304 shares of the utilities provider’s stock worth $1,305,000 after acquiring an additional 4,589 shares during the period. LPL Financial LLC boosted its holdings in Black Hills by 11.7% in the 4th quarter. LPL Financial LLC now owns 32,591 shares of the utilities provider’s stock valued at $1,907,000 after purchasing an additional 3,422 shares in the last quarter. JPMorgan Chase & Co. increased its position in Black Hills by 34.9% during the 4th quarter. JPMorgan Chase & Co. now owns 551,414 shares of the utilities provider’s stock worth $32,269,000 after purchasing an additional 142,537 shares during the period. New Age Alpha Advisors LLC purchased a new position in shares of Black Hills during the 4th quarter worth approximately $71,000. Finally, O Shaughnessy Asset Management LLC lifted its holdings in shares of Black Hills by 17.5% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 11,615 shares of the utilities provider’s stock valued at $680,000 after buying an additional 1,732 shares during the period. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

Black Hills Trading Up 1.2%

NYSE:BKH opened at $57.79 on Friday. The company has a market capitalization of $4.19 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 2.64 and a beta of 0.70. Black Hills Corporation has a 52-week low of $54.92 and a 52-week high of $65.59. The stock has a fifty day simple moving average of $57.01 and a 200-day simple moving average of $58.65. 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 announced its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.38. The company had revenue of $439.00 million for the quarter, compared to the consensus estimate of $412.69 million. Black Hills had a net margin of 12.68% and a return on equity of 7.87%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.33 earnings per share. On average, equities research analysts expect that Black Hills Corporation will post 4.12 earnings per share for the current fiscal year.

Black Hills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be given a dividend of $0.676 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $2.70 annualized dividend and a yield of 4.7%. Black Hills’s dividend payout ratio (DPR) is presently 68.88%.

Analyst Ratings Changes

Separately, BMO Capital Markets assumed coverage on shares of Black Hills in a research report on Tuesday, May 13th. They set an “outperform” rating and a $68.00 price target for the company.

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.