SeaCrest Wealth Management LLC Sells 1,646 Shares of Black Hills Co. (NYSE:BKH)

SeaCrest Wealth Management LLC trimmed its stake in shares of Black Hills Co. (NYSE:BKH) by 5.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,157 shares of the utilities provider’s stock after selling 1,646 shares during the period. SeaCrest Wealth Management LLC’s holdings in Black Hills were worth $1,720,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of BKH. State of Wyoming purchased a new position in shares of Black Hills in the second quarter valued at $27,000. Geneos Wealth Management Inc. raised its holdings in Black Hills by 87.3% during the 3rd quarter. Geneos Wealth Management Inc. now owns 562 shares of the utilities provider’s stock valued at $28,000 after buying an additional 262 shares during the period. ST Germain D J Co. Inc. bought a new stake in Black Hills in the second quarter worth $30,000. Lindbrook Capital LLC lifted its position in Black Hills by 678.4% in the third quarter. Lindbrook Capital LLC now owns 685 shares of the utilities provider’s stock worth $35,000 after buying an additional 597 shares during the last quarter. Finally, Belpointe Asset Management LLC boosted its stake in Black Hills by 60.6% during the first quarter. Belpointe Asset Management LLC now owns 652 shares of the utilities provider’s stock worth $41,000 after buying an additional 246 shares during the period. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Black Hills Stock Up 1.0 %

Shares of BKH stock traded up $0.56 on Thursday, hitting $54.60. The stock had a trading volume of 680,683 shares, compared to its average volume of 580,714. The company has a quick ratio of 0.56, a current ratio of 0.70 and a debt-to-equity ratio of 1.15. The company has a market cap of $3.73 billion, a PE ratio of 13.79 and a beta of 0.64. The business has a 50 day moving average price of $51.89 and a 200 day moving average price of $52.04. Black Hills Co. has a one year low of $46.43 and a one year high of $66.85.

Black Hills (NYSE:BKH) last issued its quarterly earnings data on Thursday, February 8th. The utilities provider reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. The company had revenue of $591.70 million during the quarter, compared to the consensus estimate of $863.67 million. Black Hills had a net margin of 11.25% and a return on equity of 8.09%. During the same quarter in the previous year, the firm posted $1.11 earnings per share. Research analysts anticipate that Black Hills Co. will post 3.9 earnings per share for the current fiscal year.

Black Hills Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were given a dividend of $0.65 per share. The ex-dividend date was Thursday, February 15th. This represents a $2.60 dividend on an annualized basis and a yield of 4.76%. This is an increase from Black Hills’s previous quarterly dividend of $0.63. Black Hills’s dividend payout ratio (DPR) is presently 66.33%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BKH shares. Scotiabank raised their target price on shares of Black Hills from $57.00 to $58.00 and gave the stock a “sector perform” rating in a report on Friday, February 9th. Royal Bank of Canada decreased their price objective on shares of Black Hills from $61.00 to $57.00 and set a “sector perform” rating for the company in a research note on Friday, February 9th. Finally, StockNews.com cut Black Hills from a “hold” rating to a “sell” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $55.80.

About Black Hills

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.