Zurcher Kantonalbank Zurich Cantonalbank Sells 1,730 Shares of Black Hills Corporation (NYSE:BKH)

Zurcher Kantonalbank Zurich Cantonalbank reduced its position in Black Hills Corporation (NYSE:BKH) by 13.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,421 shares of the utilities provider’s stock after selling 1,730 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Black Hills were worth $693,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Assetmark Inc. boosted its stake in shares of Black Hills by 3.0% in the 1st quarter. Assetmark Inc. now owns 6,916 shares of the utilities provider’s stock valued at $419,000 after purchasing an additional 200 shares during the last quarter. Avantax Advisory Services Inc. raised its holdings in Black Hills by 31.9% during the first quarter. Avantax Advisory Services Inc. now owns 5,135 shares of the utilities provider’s stock worth $311,000 after buying an additional 1,242 shares during the last quarter. Journey Strategic Wealth LLC raised its holdings in Black Hills by 4.1% during the first quarter. Journey Strategic Wealth LLC now owns 4,367 shares of the utilities provider’s stock worth $265,000 after buying an additional 172 shares during the last quarter. IMA Advisory Services Inc. bought a new stake in shares of Black Hills in the 1st quarter worth $30,000. Finally, Convergence Investment Partners LLC grew its stake in shares of Black Hills by 1.5% in the 1st quarter. Convergence Investment Partners LLC now owns 24,421 shares of the utilities provider’s stock worth $1,481,000 after acquiring an additional 351 shares in the last quarter. 86.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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.

Black Hills Price Performance

Shares of NYSE:BKH opened at $59.73 on Thursday. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $4.35 billion, a PE ratio of 15.05, a P/E/G ratio of 2.73 and a beta of 0.71. Black Hills Corporation has a twelve month low of $54.92 and a twelve month high of $65.59. The company has a 50-day moving average price of $57.07 and a two-hundred day moving average price of $58.67.

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, hitting analysts’ consensus estimates of $0.38. Black Hills had a net margin of 12.68% and a return on equity of 7.81%. The firm had revenue of $439.00 million for the quarter, compared to the consensus estimate of $412.69 million. During the same period in the prior year, the firm posted $0.33 earnings per share. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. Equities analysts forecast that Black Hills Corporation will post 4.12 EPS for the current year.

Black Hills Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be paid a $0.676 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Monday, August 18th. Black Hills’s dividend payout ratio (DPR) is currently 68.01%.

Black Hills Company 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.