AdvisorNet Financial Inc Sells 768 Shares of Black Hills Co. (NYSE:BKH)

AdvisorNet Financial Inc decreased its holdings in shares of Black Hills Co. (NYSE:BKH) by 3.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 22,135 shares of the utilities provider’s stock after selling 768 shares during the period. AdvisorNet Financial Inc’s holdings in Black Hills were worth $1,204,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BKH. Rise Advisors LLC bought a new position in shares of Black Hills in the 1st quarter worth $31,000. Pathway Financial Advisers LLC bought a new position in shares of Black Hills during the 1st quarter worth approximately $31,000. Sunbelt Securities Inc. purchased a new stake in Black Hills during the first quarter valued at approximately $33,000. Fifth Third Bancorp boosted its stake in Black Hills by 56.3% in the first quarter. Fifth Third Bancorp now owns 650 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 234 shares in the last quarter. Finally, Riverview Trust Co purchased a new position in Black Hills in the first quarter worth $38,000. Institutional investors own 86.71% of the company’s stock.

Insiders Place Their Bets

In other news, Director Rebecca B. Roberts sold 3,094 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $54.84, for a total transaction of $169,674.96. Following the sale, the director now directly owns 7,956 shares in the company, valued at approximately $436,307.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. StockNews.com raised Black Hills from a “sell” rating to a “hold” rating in a research report on Thursday, May 9th. Wells Fargo & Company raised their price target on shares of Black Hills from $61.00 to $64.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Mizuho boosted their price objective on shares of Black Hills from $53.00 to $57.00 and gave the company a “neutral” rating in a report on Tuesday, June 4th. Finally, Scotiabank dropped their price target on Black Hills from $58.00 to $54.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $56.20.

Black Hills Stock Performance

Shares of BKH stock traded up $0.34 on Thursday, hitting $57.73. The company had a trading volume of 136,880 shares, compared to its average volume of 488,444. The firm has a market cap of $3.98 billion, a P/E ratio of 14.14 and a beta of 0.68. Black Hills Co. has a twelve month low of $46.43 and a twelve month high of $59.82. The company has a 50-day moving average price of $55.68 and a 200-day moving average price of $54.33. The company has a quick ratio of 0.61, a current ratio of 0.73 and a debt-to-equity ratio of 1.11.

Black Hills (NYSE:BKH) last announced its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The company had revenue of $402.60 million during the quarter, compared to the consensus estimate of $498.00 million. Black Hills had a return on equity of 8.28% and a net margin of 12.96%. Black Hills’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 earnings per share. As a group, equities research analysts predict that Black Hills Co. will post 3.92 earnings per share for the current fiscal year.

Black Hills Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Monday, August 19th will be issued a $0.65 dividend. The ex-dividend date is Monday, August 19th. This represents a $2.60 dividend on an annualized basis and a yield of 4.50%. Black Hills’s payout ratio is 64.04%.

Black Hills 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.