Insider Selling: Black Hills Corp (BKH) Chairman Sells 7,500 Shares of Stock

Black Hills Corp (NYSE:BKH) Chairman David R. Emery sold 7,500 shares of Black Hills stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $76.16, for a total value of $571,200.00. Following the completion of the sale, the chairman now owns 182,806 shares in the company, valued at approximately $13,922,504.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of BKH stock traded up $0.39 on Tuesday, hitting $76.60. The stock had a trading volume of 4,486 shares, compared to its average volume of 373,644. The company has a current ratio of 0.82, a quick ratio of 0.67 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $4.60 billion, a PE ratio of 21.66, a P/E/G ratio of 4.59 and a beta of 0.44. Black Hills Corp has a 1 year low of $55.07 and a 1 year high of $76.76.

Black Hills (NYSE:BKH) last posted its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $1.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.58 by $0.15. The firm had revenue of $597.80 million for the quarter, compared to the consensus estimate of $581.85 million. Black Hills had a return on equity of 9.97% and a net margin of 12.91%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.63 EPS. Research analysts predict that Black Hills Corp will post 3.48 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 17th will be issued a $0.505 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.02 annualized dividend and a dividend yield of 2.64%. Black Hills’s dividend payout ratio is presently 57.06%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. grew its stake in Black Hills by 1.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 8,474 shares of the utilities provider’s stock worth $628,000 after purchasing an additional 155 shares in the last quarter. Commerce Bank grew its stake in Black Hills by 3.6% during the 1st quarter. Commerce Bank now owns 4,740 shares of the utilities provider’s stock worth $351,000 after purchasing an additional 165 shares in the last quarter. HighTower Advisors LLC grew its stake in Black Hills by 2.6% during the 1st quarter. HighTower Advisors LLC now owns 6,920 shares of the utilities provider’s stock worth $511,000 after purchasing an additional 176 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in Black Hills by 1.4% during the 1st quarter. Louisiana State Employees Retirement System now owns 14,500 shares of the utilities provider’s stock worth $1,074,000 after purchasing an additional 200 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its stake in Black Hills by 2.0% during the 1st quarter. Advisors Asset Management Inc. now owns 13,267 shares of the utilities provider’s stock worth $983,000 after purchasing an additional 260 shares in the last quarter. 86.41% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have commented on BKH shares. Zacks Investment Research upgraded Black Hills from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research report on Monday, February 11th. Credit Suisse Group set a $72.00 target price on Black Hills and gave the company a “hold” rating in a research report on Tuesday, March 5th. Bank of America upgraded Black Hills from an “underperform” rating to a “neutral” rating and set a $69.00 price objective on the stock in a report on Monday, February 11th. Williams Capital downgraded Black Hills from a “buy” rating to a “hold” rating and set a $64.00 price objective on the stock. in a report on Wednesday, February 6th. Finally, Scotiabank upgraded Black Hills from an “underperform” rating to a “sector perform” rating and boosted their price objective for the company from $64.00 to $70.00 in a report on Wednesday, May 8th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $68.71.

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Black Hills Company Profile

Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. It operates through Electric Utilities, Gas Utilities, Power Generation, and Mining segments. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 212,000 electric customers in Colorado, Montana, South Dakota, and Wyoming, as well as provides electrical system construction services to large industrial customers.

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