Murphy Capital Management Inc. Reduces Position in Black Hills Corp (NYSE:BKH)

Murphy Capital Management Inc. trimmed its position in shares of Black Hills Corp (NYSE:BKH) by 15.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,520 shares of the utilities provider’s stock after selling 800 shares during the period. Murphy Capital Management Inc.’s holdings in Black Hills were worth $346,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. First Trust Advisors LP increased its stake in Black Hills by 21.4% in the 1st quarter. First Trust Advisors LP now owns 488,403 shares of the utilities provider’s stock worth $36,176,000 after purchasing an additional 85,946 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Black Hills by 7.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 22,152 shares of the utilities provider’s stock worth $1,641,000 after purchasing an additional 1,572 shares during the period. Swiss National Bank lifted its position in shares of Black Hills by 15.4% in the 1st quarter. Swiss National Bank now owns 109,379 shares of the utilities provider’s stock worth $8,102,000 after purchasing an additional 14,600 shares during the period. Northern Trust Corp lifted its position in shares of Black Hills by 2.0% in the 1st quarter. Northern Trust Corp now owns 1,192,388 shares of the utilities provider’s stock worth $88,320,000 after purchasing an additional 23,912 shares during the period. Finally, Marshall Wace LLP purchased a new stake in shares of Black Hills in the 1st quarter worth approximately $1,011,000. Hedge funds and other institutional investors own 88.18% of the company’s stock.

In other Black Hills news, insider David R. Emery sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $78.14, for a total value of $586,050.00. Following the completion of the sale, the insider now directly owns 167,806 shares in the company, valued at $13,112,360.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Richard Kinzley sold 5,416 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $77.89, for a total transaction of $421,852.24. Following the completion of the sale, the chief financial officer now owns 38,299 shares of the company’s stock, valued at $2,983,109.11. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,916 shares of company stock valued at $2,166,202. Insiders own 1.00% of the company’s stock.

Several analysts recently commented on the stock. Zacks Investment Research downgraded shares of Black Hills from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. ValuEngine cut Black Hills from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Bank of America upgraded Black Hills from a “neutral” rating to a “buy” rating in a research note on Thursday. Finally, Credit Suisse Group reduced their price objective on Black Hills from $79.00 to $78.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $74.40.

Shares of BKH opened at $78.13 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.76 and a quick ratio of 0.55. The stock has a market capitalization of $4.64 billion, a PE ratio of 22.07, a price-to-earnings-growth ratio of 5.31 and a beta of 0.26. Black Hills Corp has a 12-month low of $59.07 and a 12-month high of $82.01. The business’s fifty day moving average price is $76.68 and its 200 day moving average price is $76.50.

Black Hills (NYSE:BKH) last posted its earnings results on Monday, August 5th. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.21). The company had revenue of $333.90 million during the quarter, compared to the consensus estimate of $399.87 million. Black Hills had a net margin of 12.65% and a return on equity of 8.99%. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.45 earnings per share. As a group, research analysts anticipate that Black Hills Corp will post 3.44 earnings per share for the current fiscal year.

Black Hills Company 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.

Further Reading: Buyback For Investors Defined

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Institutional Ownership by Quarter for Black Hills (NYSE:BKH)

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