Raymond James & Associates Trims Stake in Black Hills Co. (BKH)

Raymond James & Associates lessened its holdings in shares of Black Hills Co. (NYSE:BKH) by 68.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,572 shares of the utilities provider’s stock after selling 26,768 shares during the quarter. Raymond James & Associates’ holdings in Black Hills were worth $756,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of BKH. Covenant Multifamily Offices LLC acquired a new stake in shares of Black Hills during the fourth quarter worth about $102,000. Ffcm LLC increased its stake in shares of Black Hills by 1,201.5% during the fourth quarter. Ffcm LLC now owns 1,770 shares of the utilities provider’s stock worth $106,000 after buying an additional 1,634 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Black Hills by 48.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,890 shares of the utilities provider’s stock worth $174,000 after buying an additional 940 shares during the period. Ramsey Quantitative Systems purchased a new stake in shares of Black Hills during the fourth quarter worth approximately $223,000. Finally, Yorktown Management & Research Co Inc purchased a new stake in shares of Black Hills during the fourth quarter worth approximately $307,000. 98.15% of the stock is currently owned by institutional investors and hedge funds.

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A number of research firms recently weighed in on BKH. JPMorgan Chase upped their target price on shares of Black Hills from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Tuesday, April 10th. Zacks Investment Research upgraded shares of Black Hills from a “sell” rating to a “hold” rating in a research note on Tuesday, March 27th. Williams Capital upgraded shares of Black Hills from a “hold” rating to a “buy” rating and cut their target price for the stock from $70.00 to $62.00 in a research note on Wednesday, January 10th. Finally, Credit Suisse Group lowered shares of Black Hills from an “outperform” rating to a “neutral” rating and set a $66.00 target price on the stock. in a research note on Tuesday, January 9th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $64.13.

BKH stock opened at $54.24 on Monday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.70 and a current ratio of 0.88. Black Hills Co. has a fifty-two week low of $50.49 and a fifty-two week high of $72.02. The company has a market cap of $2,904.28, a P/E ratio of 16.14, a PEG ratio of 3.44 and a beta of 0.52.

Black Hills (NYSE:BKH) last announced its quarterly earnings results on Thursday, February 1st. The utilities provider reported $0.98 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.07 by ($0.09). The company had revenue of $455.30 million during the quarter, compared to analysts’ expectations of $504.05 million. Black Hills had a net margin of 10.83% and a return on equity of 10.10%. analysts anticipate that Black Hills Co. will post 3.41 EPS for the current year.

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Black Hills Profile

Black Hills Corporation, through its subsidiaries, operates as a vertically-integrated utility company in the United States. The company's Electric Utilities segment generates, transmits, and distributes electricity to approximately 210,000 electric customers in South Dakota, Wyoming, Colorado, and Montana.

Institutional Ownership by Quarter for Black Hills (NYSE:BKH)

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