SG Americas Securities LLC Increases Position in Black Hills Co. (NYSE:BKH)

Posted by Defense World Staff on Jul 23rd, 2023

SG Americas Securities LLC raised its position in Black Hills Co. (NYSE:BKH – Free Report) by 47.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,410 shares of the utilities provider’s stock after purchasing an additional 10,389 shares during the period. SG Americas Securities LLC’s holdings in Black Hills were worth $2,045,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Allianz Asset Management GmbH increased its position in shares of Black Hills by 1.1% in the 1st quarter. Allianz Asset Management GmbH now owns 13,420 shares of the utilities provider’s stock valued at $1,034,000 after purchasing an additional 151 shares during the last quarter. Captrust Financial Advisors boosted its holdings in shares of Black Hills by 3.7% in the 1st quarter. Captrust Financial Advisors now owns 4,322 shares of the utilities provider’s stock valued at $333,000 after buying an additional 154 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Black Hills by 1.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 12,240 shares of the utilities provider’s stock valued at $829,000 after buying an additional 176 shares in the last quarter. State of Michigan Retirement System boosted its holdings in shares of Black Hills by 1.2% in the 4th quarter. State of Michigan Retirement System now owns 16,600 shares of the utilities provider’s stock valued at $1,168,000 after buying an additional 200 shares in the last quarter. Finally, United Capital Financial Advisers LLC boosted its holdings in shares of Black Hills by 1.0% in the 4th quarter. United Capital Financial Advisers LLC now owns 21,415 shares of the utilities provider’s stock valued at $1,506,000 after buying an additional 204 shares in the last quarter. 86.24% of the stock is owned by hedge funds and other institutional investors.

Black Hills Stock Up 0.0 %

Shares of NYSE:BKH opened at $61.27 on Friday. The stock has a market cap of $4.10 billion, a P/E ratio of 15.71, a P/E/G ratio of 7.23 and a beta of 0.57. The firm has a fifty day moving average price of $61.19 and a 200 day moving average price of $64.15. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.76. Black Hills Co. has a 1-year low of $56.75 and a 1-year high of $79.78.

Black Hills (NYSE:BKH – Get Free Report) last issued its quarterly earnings results on Wednesday, May 3rd. The utilities provider reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.06. The firm had revenue of $921.20 million during the quarter, compared to analysts’ expectations of $754.70 million. Black Hills had a net margin of 9.62% and a return on equity of 8.33%. Black Hills’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.82 EPS. Sell-side analysts predict that Black Hills Co. will post 3.73 EPS for the current year.

Black Hills Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Thursday, May 18th were given a dividend of $0.625 per share. The ex-dividend date was Wednesday, May 17th. This represents a $2.50 dividend on an annualized basis and a yield of 4.08%. Black Hills’s payout ratio is currently 64.10%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BKH. StockNews.com upgraded shares of Black Hills from a “sell” rating to a “hold” rating in a report on Saturday, June 3rd. Mizuho lowered their target price on shares of Black Hills from $60.00 to $56.00 and set an “underperform” rating for the company in a report on Friday. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $66.71.

Insiders Place Their Bets

In other Black Hills news, CFO Richard Kinzley sold 10,033 shares of the company’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $65.49, for a total transaction of $657,061.17. Following the completion of the transaction, the chief financial officer now owns 36,576 shares in the company, valued at approximately $2,395,362.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.61% of the stock is owned by insiders.

Black Hills Profile

(Free Report)

Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. It operates in two segments, Electric Utilities and Gas Utilities. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 220,000 electric utility customers in Colorado, Montana, South Dakota, and Wyoming; and owns and operates 1,482 megawatts of generation capacity and 9,024 miles of electric transmission and distribution lines.