Congress Asset Management Co. Cuts Stock Holdings in Black Hills Co. (NYSE:BKH)

Congress Asset Management Co. reduced its stake in Black Hills Co. (NYSE:BKH) by 1.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,048 shares of the utilities provider’s stock after selling 937 shares during the quarter. Congress Asset Management Co. owned about 0.13% of Black Hills worth $5,504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Pathway Financial Advisers LLC purchased a new position in shares of Black Hills in the 1st quarter worth about $31,000. Blue Trust Inc. boosted its stake in Black Hills by 84.9% in the third quarter. Blue Trust Inc. now owns 577 shares of the utilities provider’s stock worth $35,000 after buying an additional 265 shares in the last quarter. Quarry LP boosted its stake in Black Hills by 158.0% in the second quarter. Quarry LP now owns 841 shares of the utilities provider’s stock worth $46,000 after buying an additional 515 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its stake in shares of Black Hills by 972.3% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 890 shares of the utilities provider’s stock worth $48,000 after acquiring an additional 807 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Black Hills in the 1st quarter worth approximately $83,000. 86.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on BKH. Scotiabank lifted their target price on shares of Black Hills from $54.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Wells Fargo & Company lifted their price objective on Black Hills from $61.00 to $64.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $58.00.

Black Hills Trading Down 2.1 %

Shares of BKH opened at $57.92 on Friday. The firm has a fifty day simple moving average of $60.12 and a two-hundred day simple moving average of $57.24. Black Hills Co. has a twelve month low of $48.27 and a twelve month high of $62.20. The stock has a market capitalization of $4.04 billion, a P/E ratio of 14.34, a PEG ratio of 4.30 and a beta of 0.69. The company has a quick ratio of 0.94, a current ratio of 1.06 and a debt-to-equity ratio of 1.23.

Black Hills (NYSE:BKH) last posted its earnings results on Wednesday, July 31st. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.04. The company had revenue of $402.60 million for the quarter, compared to analysts’ expectations of $498.00 million. Black Hills had a return on equity of 8.21% and a net margin of 12.96%. Black Hills’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period last year, the firm earned $0.35 earnings per share. On average, research analysts anticipate that Black Hills Co. will post 3.91 EPS for the current year.

Black Hills Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Monday, November 18th will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.60 annualized dividend and a dividend yield of 4.49%. Black Hills’s dividend payout ratio (DPR) is presently 64.36%.

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.