Comerica Bank Sells 3,061 Shares of Black Hills Co. (NYSE:BKH)

Comerica Bank lowered its stake in Black Hills Co. (NYSE:BKH) by 8.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 32,735 shares of the utilities provider’s stock after selling 3,061 shares during the quarter. Comerica Bank’s holdings in Black Hills were worth $1,916,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC boosted its position in Black Hills by 66.8% during the 4th 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 during the period. Larson Financial Group LLC boosted its holdings in shares of Black Hills by 182.8% during the fourth quarter. Larson Financial Group LLC now owns 461 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 298 shares during the period. Global Retirement Partners LLC grew its stake in shares of Black Hills by 373.2% in the fourth quarter. Global Retirement Partners LLC now owns 530 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 418 shares during the last quarter. UMB Bank n.a. increased its holdings in Black Hills by 83.3% during the 4th quarter. UMB Bank n.a. now owns 625 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 284 shares during the period. Finally, Quarry LP raised its position in Black Hills by 1,159.7% during the 4th quarter. Quarry LP now owns 781 shares of the utilities provider’s stock valued at $46,000 after purchasing an additional 719 shares during the last quarter. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Wall Street Analyst Weigh In

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

Black Hills Trading Down 0.6 %

Shares of BKH opened at $58.49 on Friday. Black Hills Co. has a 1-year low of $51.66 and a 1-year high of $65.59. The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 2.75 and a beta of 0.74. The firm’s 50-day moving average price is $59.87 and its 200-day moving average price is $59.93. The company has a current ratio of 0.97, a quick ratio of 0.77 and a debt-to-equity ratio of 1.19.

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

Black Hills Announces Dividend

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

Black Hills Company Profile

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.