Insider Selling: Black Hills Co. (NYSE:BKH) SVP Sells $137,080.00 in Stock

Black Hills Co. (NYSE:BKH) SVP Stuart A. Wevik sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, July 16th. The stock was sold at an average price of $68.54, for a total value of $137,080.00. Following the completion of the sale, the senior vice president now owns 24,759 shares in the company, valued at approximately $1,696,981.86. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Shares of Black Hills stock opened at $67.12 on Thursday. Black Hills Co. has a one year low of $51.97 and a one year high of $71.34. The business has a fifty day moving average of $67.15. The company has a market cap of $4.22 billion, a PE ratio of 18.46, a P/E/G ratio of 3.43 and a beta of 0.36. The company has a current ratio of 0.47, a quick ratio of 0.39 and a debt-to-equity ratio of 1.29.

Black Hills (NYSE:BKH) last announced its earnings results on Monday, May 3rd. The utilities provider reported $1.54 EPS for the quarter, missing the Zacks’ consensus estimate of $1.66 by ($0.12). Black Hills had a return on equity of 8.69% and a net margin of 12.87%. The company had revenue of $633.40 million during the quarter, compared to the consensus estimate of $610.87 million. During the same period in the prior year, the business posted $1.59 earnings per share. Black Hills’s revenue for the quarter was up 17.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Black Hills Co. will post 3.88 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 1st. Investors of record on Tuesday, May 18th were issued a $0.565 dividend. The ex-dividend date of this dividend was Monday, May 17th. This represents a $2.26 dividend on an annualized basis and a yield of 3.37%. Black Hills’s dividend payout ratio is currently 60.59%.

Several brokerages have commented on BKH. Zacks Investment Research upgraded Black Hills from a “sell” rating to a “hold” rating in a research note on Wednesday, April 28th. Credit Suisse Group increased their target price on Black Hills from $75.00 to $78.00 and gave the company an “outperform” rating in a research note on Thursday, May 6th. Finally, Wells Fargo & Company increased their target price on Black Hills from $67.00 to $74.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 28th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $72.33.

Large investors have recently bought and sold shares of the business. Quantitative Systematic Strategies LLC raised its holdings in Black Hills by 100.0% during the first quarter. Quantitative Systematic Strategies LLC now owns 15,506 shares of the utilities provider’s stock valued at $1,035,000 after acquiring an additional 7,752 shares during the period. Hsbc Holdings PLC bought a new stake in Black Hills during the fourth quarter valued at about $207,000. Comerica Bank grew its position in shares of Black Hills by 21.4% during the first quarter. Comerica Bank now owns 44,727 shares of the utilities provider’s stock valued at $3,111,000 after purchasing an additional 7,893 shares in the last quarter. Nuveen Asset Management LLC grew its position in shares of Black Hills by 7.4% during the first quarter. Nuveen Asset Management LLC now owns 951,003 shares of the utilities provider’s stock valued at $63,498,000 after purchasing an additional 65,186 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Black Hills during the fourth quarter valued at about $123,000. 86.47% of the stock is currently owned by institutional investors and hedge funds.

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 four segments: Electric Utilities, Gas Utilities, Power Generation, and Mining. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 216,000 electric customers in Colorado, South Dakota, and Wyoming, as well as provides electrical system construction services to large industrial customers.

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