Nuveen Asset Management LLC lessened its holdings in Black Hills Corp (NYSE:BKH) by 18.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 576,729 shares of the utilities provider’s stock after selling 128,698 shares during the period. Nuveen Asset Management LLC owned 0.96% of Black Hills worth $36,207,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of BKH. Ffcm LLC increased its stake in Black Hills by 303.9% in the fourth quarter. Ffcm LLC now owns 622 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 468 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Black Hills in the fourth quarter valued at $41,000. Ruggie Capital Group bought a new position in Black Hills in the fourth quarter valued at $67,000. Fort L.P. bought a new position in Black Hills in the fourth quarter valued at $72,000. Finally, FMR LLC bought a new position in Black Hills in the third quarter valued at $136,000. Institutional investors own 87.62% of the company’s stock.
Shares of NYSE:BKH opened at $71.85 on Wednesday. Black Hills Corp has a 12-month low of $51.83 and a 12-month high of $73.61. The stock has a market cap of $4.38 billion, a PE ratio of 20.30, a P/E/G ratio of 4.55 and a beta of 0.45. The company has a current ratio of 0.78, a quick ratio of 0.60 and a debt-to-equity ratio of 1.29.
Black Hills (NYSE:BKH) last posted its earnings results on Thursday, February 7th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.13. The company had revenue of $501.20 million for the quarter, compared to analysts’ expectations of $466.97 million. Black Hills had a return on equity of 9.75% and a net margin of 14.73%. Black Hills’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period last year, the firm earned $0.98 earnings per share. As a group, analysts anticipate that Black Hills Corp will post 3.43 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 15th were paid a $0.505 dividend. The ex-dividend date was Thursday, February 14th. This represents a $2.02 annualized dividend and a dividend yield of 2.81%. Black Hills’s payout ratio is presently 57.06%.
BKH has been the topic of a number of recent research reports. Zacks Investment Research cut Black Hills from a “buy” rating to a “hold” rating in a research note on Tuesday, December 11th. ValuEngine raised Black Hills from a “hold” rating to a “buy” rating in a research note on Tuesday, November 20th. Credit Suisse Group raised their price objective on Black Hills from $65.00 to $69.00 and gave the company an “outperform” rating in a research note on Tuesday, December 4th. Scotiabank cut Black Hills from a “sector perform” rating to a “sell” rating in a research note on Wednesday, December 12th. Finally, Williams Capital cut Black Hills from a “buy” rating to a “hold” rating and set a $64.00 price objective on the stock. in a research note on Wednesday, February 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. Black Hills currently has an average rating of “Hold” and a consensus price target of $65.43.
In related news, insider David R. Emery sold 2,143 shares of the firm’s stock in a transaction dated Wednesday, February 13th. The stock was sold at an average price of $70.14, for a total value of $150,310.02. Following the sale, the insider now directly owns 205,306 shares of the company’s stock, valued at $14,400,162.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by company insiders.
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Black Hills Profile
Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. It operates through Electric Utilities, Gas Utilities, Power Generation, and Mining segments. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 212,000 electric customers in Colorado, Montana, South Dakota, and Wyoming, as well as provides electrical system construction services to large industrial customers.
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