Black Hills Corporation $BKH Shares Sold by Hunter Perkins Capital Management LLC

Hunter Perkins Capital Management LLC reduced its position in Black Hills Corporation (NYSE:BKH) by 21.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 152,539 shares of the utilities provider’s stock after selling 41,001 shares during the quarter. Black Hills comprises about 2.1% of Hunter Perkins Capital Management LLC’s investment portfolio, making the stock its 13th biggest position. Hunter Perkins Capital Management LLC owned 0.21% of Black Hills worth $9,395,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BKH. Spire Wealth Management increased 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 acquiring an additional 535 shares during the last quarter. TD Waterhouse Canada Inc. purchased a new stake in shares of Black Hills during the 2nd quarter worth about $31,000. Ameritas Advisory Services LLC acquired a new stake in Black Hills during the 2nd quarter worth approximately $43,000. Hilltop National Bank acquired a new stake in Black Hills during the 2nd quarter worth approximately $50,000. Finally, State of Wyoming purchased a new position in Black Hills in the first quarter valued at approximately $59,000. Institutional investors and hedge funds own 86.71% of the company’s stock.

Black Hills Price Performance

Shares of BKH stock opened at $69.45 on Thursday. The firm has a fifty day simple moving average of $68.81 and a 200-day simple moving average of $62.20. The company has a market capitalization of $5.06 billion, a PE ratio of 17.54, a price-to-earnings-growth ratio of 3.20 and a beta of 0.74. Black Hills Corporation has a twelve month low of $54.92 and a twelve month high of $74.02. The company has a current ratio of 0.91, a quick ratio of 0.67 and a debt-to-equity ratio of 1.10.

Black Hills (NYSE:BKH) last issued its quarterly earnings data on Thursday, November 6th. The utilities provider reported $0.45 EPS for the quarter, hitting analysts’ consensus estimates of $0.45. The firm had revenue of $430.20 million for the quarter, compared to analyst estimates of $439.96 million. Black Hills had a net margin of 12.54% and a return on equity of 7.86%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.35 EPS. Equities research analysts anticipate that Black Hills Corporation will post 4.12 earnings per share for the current fiscal year.

Black Hills Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 17th were issued a $0.676 dividend. The ex-dividend date of this dividend was 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 currently 68.18%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on BKH shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Black Hills in a research note on Monday. Scotiabank raised shares of Black Hills from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $66.00 to $81.00 in a research report on Friday, November 7th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $71.00.

Insiders Place Their Bets

In other Black Hills 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 sale, the chief financial officer directly owned 34,621 shares in the company, valued at $2,447,704.70. The trade was a 29.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.63% of the stock is currently owned by company insiders.

Black Hills Company Profile

Black Hills Corporation is a diversified energy company based in Rapid City, South Dakota, that provides electricity and natural gas distribution services to residential, commercial and industrial customers. Through its regulated utility subsidiaries—Black Hills Power, Cheyenne Light & Power, and Black Hills Energy—the company delivers reliable energy across Colorado, Kansas, Montana, Nebraska, South Dakota and Wyoming.

In addition to its distribution operations, Black Hills owns and operates a generation portfolio that includes natural gas–fired plants, coal-fired units, hydroelectric facilities and wind projects.