Huber Capital Management LLC cut its holdings in Black Hills Co. (NYSE:BKH) by 17.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 16,926 shares of the utilities provider’s stock after selling 3,500 shares during the quarter. Huber Capital Management LLC’s holdings in Black Hills were worth $1,111,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the stock. Tortoise Investment Management LLC purchased a new position in shares of Black Hills during the 2nd quarter worth about $39,000. Creative Financial Designs Inc. ADV bought a new stake in Black Hills in the second quarter valued at $40,000. Stonebridge Capital Advisors LLC acquired a new position in shares of Black Hills during the first quarter valued at $80,000. Tompkins Financial Corp increased its holdings in shares of Black Hills by 36.4% during the first quarter. Tompkins Financial Corp now owns 1,500 shares of the utilities provider’s stock valued at $100,000 after purchasing an additional 400 shares during the period. Finally, Bbva USA acquired a new position in Black Hills during the second quarter worth about $100,000. Institutional investors and hedge funds own 87.12% of the company’s stock.
Shares of Black Hills stock traded up $0.63 during trading on Thursday, hitting $64.78. 1,832 shares of the stock traded hands, compared to its average volume of 337,295. The stock has a market cap of $4.11 billion, a P/E ratio of 17.11, a PEG ratio of 3.41 and a beta of 0.36. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.37 and a current ratio of 0.46. Black Hills Co. has a twelve month low of $56.31 and a twelve month high of $72.78. The company has a fifty day moving average price of $67.97 and a two-hundred day moving average price of $67.80.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Wednesday, August 18th were issued a $0.565 dividend. The ex-dividend date of this dividend was Tuesday, August 17th. This represents a $2.26 annualized dividend and a yield of 3.49%. Black Hills’s dividend payout ratio (DPR) is currently 60.59%.
In related news, SVP Stuart A. Wevik sold 1,000 shares of the business’s stock in a transaction on Wednesday, August 4th. The stock was sold at an average price of $70.00, for a total value of $70,000.00. Following the sale, the senior vice president now owns 22,759 shares of the company’s stock, valued at approximately $1,593,130. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Stuart A. Wevik sold 2,000 shares of the company’s stock in a transaction dated Friday, July 16th. The shares were sold at an average price of $68.54, for a total value of $137,080.00. Following the completion of the sale, the senior vice president now owns 24,759 shares of the company’s stock, valued at approximately $1,696,981.86. The disclosure for this sale can be found here. 0.78% of the stock is currently owned by insiders.
A number of equities analysts recently weighed in on the company. Zacks Investment Research cut Black Hills from a “buy” rating to a “hold” rating in a research note on Thursday, September 30th. Sidoti lifted their price target on Black Hills from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, August 25th. Finally, Mizuho lifted their price target on Black Hills from $60.00 to $67.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 22nd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Black Hills has a consensus rating of “Buy” and an average target price of $73.71.
Black Hills Profile
Black Hills Corp. is a diversified energy company. It operates through the following segments: Electric Utilities, Gas Utilities, Power Generation, Mining, and Corporate and Other. The Electric Utilities segment generates, transmits, and distributes electricity in South Dakota, Wyoming, Colorado, and Montana.
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