Black Hills Corp (NYSE:BKH) Chairman David R. Emery sold 6,250 shares of the company’s stock in a transaction dated Wednesday, March 25th. The shares were sold at an average price of $60.00, for a total transaction of $375,000.00. Following the completion of the sale, the chairman now directly owns 94,828 shares in the company, valued at approximately $5,689,680. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Shares of BKH traded up $3.19 during trading hours on Thursday, reaching $61.75. 8,167 shares of the company traded hands, compared to its average volume of 633,687. The stock has a market capitalization of $3.56 billion, a PE ratio of 18.82, a price-to-earnings-growth ratio of 3.55 and a beta of 0.33. The stock has a fifty day simple moving average of $74.38 and a 200 day simple moving average of $76.92. Black Hills Corp has a fifty-two week low of $48.07 and a fifty-two week high of $87.12. The company has a quick ratio of 0.44, a current ratio of 0.58 and a debt-to-equity ratio of 1.27.
Black Hills (NYSE:BKH) last announced its earnings results on Thursday, February 6th. The utilities provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.04. The firm had revenue of $477.70 million during the quarter, compared to the consensus estimate of $555.29 million. Black Hills had a net margin of 11.49% and a return on equity of 8.84%. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.05 EPS. Research analysts predict that Black Hills Corp will post 3.72 EPS for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Whittier Trust Co. lifted its position in Black Hills by 3,377.8% in the 4th quarter. Whittier Trust Co. now owns 313 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 304 shares during the last quarter. Chevy Chase Trust Holdings Inc. bought a new stake in Black Hills in the 4th quarter valued at about $27,000. Orion Portfolio Solutions LLC bought a new stake in Black Hills in the 4th quarter valued at about $27,000. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Black Hills during the 4th quarter worth approximately $35,000. Finally, IFP Advisors Inc grew its position in shares of Black Hills by 101.8% during the 4th quarter. IFP Advisors Inc now owns 551 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 278 shares in the last quarter. 84.27% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently weighed in on BKH. Zacks Investment Research cut shares of Black Hills from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th. Royal Bank of Canada restated a “buy” rating and set a $88.00 price objective on shares of Black Hills in a research report on Monday, March 9th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $81.40.
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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