Deutsche Bank AG Has $10.55 Million Holdings in Black Hills Co. (NYSE:BKH)

Deutsche Bank AG trimmed its holdings in Black Hills Co. (NYSE:BKH) by 8.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 180,254 shares of the utilities provider’s stock after selling 16,859 shares during the period. Deutsche Bank AG owned about 0.25% of Black Hills worth $10,548,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BKH. First Trust Advisors LP grew its stake in Black Hills by 309.5% in the fourth quarter. First Trust Advisors LP now owns 953,431 shares of the utilities provider’s stock valued at $55,795,000 after acquiring an additional 720,628 shares during the period. Bank of America Corp DE grew its stake in Black Hills by 203.6% in the fourth quarter. Bank of America Corp DE now owns 507,986 shares of the utilities provider’s stock valued at $29,727,000 after acquiring an additional 340,686 shares during the period. Capital Research Global Investors grew its stake in Black Hills by 21.5% in the fourth quarter. Capital Research Global Investors now owns 1,845,088 shares of the utilities provider’s stock valued at $107,975,000 after acquiring an additional 326,959 shares during the period. Great Lakes Advisors LLC acquired a new position in Black Hills in the fourth quarter valued at about $10,490,000. Finally, Raymond James Financial Inc. acquired a new position in Black Hills in the fourth quarter valued at about $8,413,000. 86.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BKH has been the subject of a number of research analyst reports. BMO Capital Markets initiated coverage on Black Hills in a research note on Tuesday. They issued an “outperform” rating and a $68.00 target price for the company. Scotiabank cut their price target on Black Hills from $67.00 to $66.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th.

Black Hills Stock Performance

Shares of Black Hills stock opened at $58.50 on Friday. The firm has a market cap of $4.24 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 2.75 and a beta of 0.74. The stock’s 50-day moving average is $59.67 and its 200-day moving average is $59.85. Black Hills Co. has a one year low of $51.66 and a one year high of $65.59. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.97 and a quick ratio of 0.77.

Black Hills (NYSE:BKH) last issued its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $1.87 EPS for the quarter, missing analysts’ consensus estimates of $1.92 by ($0.05). Black Hills had a net margin of 12.84% and a return on equity of 7.82%. The firm had revenue of $805.20 million during the quarter, compared to the consensus estimate of $729.73 million. During the same quarter last year, the firm earned $1.87 earnings per share. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. Equities analysts predict that Black Hills Co. will post 4.12 earnings per share for the current fiscal year.

Black Hills Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Friday, May 16th will be issued a dividend of $0.676 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.70 annualized dividend and a yield of 4.62%. Black Hills’s payout ratio is presently 68.88%.

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.