Cetera Investment Advisers Sells 4,634 Shares of Black Hills Co. (NYSE:BKH)

Cetera Investment Advisers trimmed its stake in shares of Black Hills Co. (NYSE:BKH) by 21.0% during the 2nd quarter, Holdings Channel.com reports. The fund owned 17,438 shares of the utilities provider’s stock after selling 4,634 shares during the quarter. Cetera Investment Advisers’ holdings in Black Hills were worth $948,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Goldman Sachs Group Inc. grew its position in shares of Black Hills by 36.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 755,095 shares of the utilities provider’s stock worth $40,737,000 after buying an additional 203,340 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Black Hills by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 8,143,567 shares of the utilities provider’s stock worth $439,345,000 after buying an additional 322,271 shares during the last quarter. Quadrature Capital Ltd grew its position in shares of Black Hills by 8.0% in the 4th quarter. Quadrature Capital Ltd now owns 13,438 shares of the utilities provider’s stock worth $726,000 after buying an additional 995 shares during the last quarter. CWM LLC grew its position in shares of Black Hills by 12.0% in the 1st quarter. CWM LLC now owns 2,291 shares of the utilities provider’s stock worth $125,000 after buying an additional 245 shares during the last quarter. Finally, Rise Advisors LLC purchased a new position in shares of Black Hills in the 1st quarter valued at approximately $31,000. 86.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BKH. Scotiabank raised their target price on Black Hills from $54.00 to $63.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Wells Fargo & Company raised their target price on Black Hills from $61.00 to $64.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat.com, Black Hills currently has a consensus rating of “Hold” and an average price target of $58.00.

Black Hills Stock Down 0.3 %

Shares of NYSE:BKH opened at $61.84 on Friday. The stock has a fifty day simple moving average of $59.54 and a two-hundred day simple moving average of $56.72. The stock has a market capitalization of $4.26 billion, a price-to-earnings ratio of 15.23, a PEG ratio of 4.19 and a beta of 0.69. Black Hills Co. has a 12-month low of $47.49 and a 12-month high of $62.20. The company has a current ratio of 1.06, a quick ratio of 0.94 and a debt-to-equity ratio of 1.23.

Black Hills (NYSE:BKH) last announced its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $402.60 million during 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%. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.35 earnings per share. On average, research analysts anticipate that Black Hills Co. will post 3.9 earnings per share for the current fiscal year.

Black Hills Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Monday, August 19th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend was Monday, August 19th. Black Hills’s payout ratio is 64.04%.

Black Hills Company Profile

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.