Black Hills Co. (NYSE:BKH) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC reduced its position in Black Hills Co. (NYSE:BKH) by 50.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 37,254 shares of the utilities provider’s stock after selling 38,618 shares during the period. Cubist Systematic Strategies LLC’s holdings in Black Hills were worth $2,180,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its position in shares of Black Hills by 66.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 432 shares of the utilities provider’s stock valued at $25,000 after buying an additional 173 shares in the last quarter. Barnett & Company Inc. grew its stake in Black Hills by 2.7% in the 4th quarter. Barnett & Company Inc. now owns 7,500 shares of the utilities provider’s stock valued at $439,000 after acquiring an additional 200 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Black Hills by 8.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,919 shares of the utilities provider’s stock valued at $171,000 after acquiring an additional 222 shares in the last quarter. Assetmark Inc. increased its holdings in Black Hills by 4.1% during the 4th quarter. Assetmark Inc. now owns 6,716 shares of the utilities provider’s stock valued at $393,000 after acquiring an additional 263 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its position in Black Hills by 3.4% during the fourth quarter. State of Alaska Department of Revenue now owns 8,162 shares of the utilities provider’s stock worth $477,000 after acquiring an additional 270 shares during the last quarter. 86.71% of the stock is owned by institutional investors and hedge funds.

Black Hills Stock Performance

NYSE BKH opened at $58.49 on Monday. The company has a quick ratio of 0.77, a current ratio of 0.97 and a debt-to-equity ratio of 1.19. Black Hills Co. has a fifty-two week low of $51.66 and a fifty-two week high of $65.59. The business has a fifty day moving average of $59.87 and a 200-day moving average of $59.92. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 2.75 and a beta of 0.74.

Black Hills (NYSE:BKH) last posted its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $1.87 EPS for the quarter, missing analysts’ consensus estimates of $1.92 by ($0.05). The company had revenue of $805.20 million for the quarter, compared to analysts’ expectations of $729.73 million. Black Hills had a return on equity of 7.82% and a net margin of 12.84%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.87 EPS. As a group, analysts predict that Black Hills Co. will post 4.12 earnings per share for the current fiscal year.

Black Hills Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Friday, May 16th will be given a $0.676 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date is Friday, May 16th. Black Hills’s dividend payout ratio is presently 68.88%.

Wall Street Analyst Weigh In

Separately, Scotiabank lowered their price target on shares of Black Hills from $67.00 to $66.00 and set a “sector perform” rating on the stock in a research report on Friday, February 7th.

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.