Savant Capital LLC Has $724,000 Stock Position in Black Hills Corporation $BKH

Savant Capital LLC lowered its stake in shares of Black Hills Corporation (NYSE:BKH) by 10.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,911 shares of the utilities provider’s stock after selling 1,499 shares during the period. Savant Capital LLC’s holdings in Black Hills were worth $724,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Clearstead Trust LLC bought a new position in shares of Black Hills during the first quarter worth about $30,000. IMA Advisory Services Inc. acquired a new position in Black Hills in the first quarter valued at about $30,000. Spire Wealth Management lifted its stake in Black Hills by 4,115.4% during the second quarter. Spire Wealth Management now owns 548 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 535 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in Black Hills in the 2nd quarter valued at approximately $43,000. Finally, Hilltop National Bank acquired a new stake in shares of Black Hills during the second quarter worth $50,000. 86.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BKH. Scotiabank upgraded Black Hills from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $66.00 to $81.00 in a report on Friday, November 7th. Bank of America upgraded Black Hills from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $57.00 to $64.00 in a research report on Wednesday, August 20th. Finally, Weiss Ratings upgraded Black Hills from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $71.00.

Black Hills Trading Down 0.7%

Shares of Black Hills stock opened at $69.81 on Friday. The firm has a market cap of $5.09 billion, a price-to-earnings ratio of 17.58, a PEG ratio of 2.95 and a beta of 0.76. The business has a 50-day moving average price of $62.76 and a 200-day moving average price of $59.87. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 1.06. Black Hills Corporation has a twelve month low of $54.92 and a twelve month high of $72.22.

Black Hills (NYSE:BKH) last posted its quarterly earnings data on Thursday, November 6th. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.45. Black Hills had a return on equity of 7.81% and a net margin of 12.68%.The company had revenue of $430.20 million during the quarter, compared to analysts’ expectations of $439.96 million. During the same quarter in the previous year, the business earned $0.35 EPS. Black Hills’s revenue was up 7.1% compared to the same quarter last year. Equities research analysts anticipate that Black Hills Corporation will post 4.12 EPS for the current fiscal year.

Black Hills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be issued a $0.676 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $2.70 dividend on an annualized basis and a yield of 3.9%. Black Hills’s dividend payout ratio is presently 68.18%.

Insider Activity

In related news, CFO Kimberly F. Nooney sold 14,500 shares of Black Hills stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $70.70, for a total transaction of $1,025,150.00. Following the transaction, the chief financial officer owned 34,621 shares in the company, valued at approximately $2,447,704.70. This trade represents a 29.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.63% of the stock is owned by corporate insiders.

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.