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

SeaCrest Wealth Management LLC cut its stake in shares of Black Hills Co. (NYSE:BKH) by 5.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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.

Other institutional investors also recently made changes to their positions in the company. State of Wyoming bought a new stake in Black Hills in the 2nd quarter valued at $27,000. ST Germain D J Co. Inc. bought a new position in Black Hills during the second quarter worth about $30,000. Geneos Wealth Management Inc. raised its stake in Black Hills by 87.3% in the 3rd quarter. Geneos Wealth Management Inc. now owns 562 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 262 shares in the last quarter. Belpointe Asset Management LLC boosted its holdings in Black Hills by 60.6% in the 1st quarter. Belpointe Asset Management LLC now owns 652 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 246 shares during the period. Finally, Lindbrook Capital LLC grew its position in shares of Black Hills by 678.4% during the 3rd quarter. Lindbrook Capital LLC now owns 685 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 597 shares in the last quarter. Institutional investors own 86.71% of the company’s stock.

Black Hills Trading Up 1.0 %

Black Hills stock traded up $0.56 during mid-day trading on Thursday, hitting $54.60. 680,683 shares of the stock were exchanged, compared to its average volume of 580,714. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of 13.79 and a beta of 0.64. Black Hills Co. has a 12 month low of $46.43 and a 12 month high of $66.85. 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 firm’s fifty day simple moving average is $51.89 and its two-hundred day simple moving average is $52.04.

Black Hills (NYSE:BKH) last released its earnings results on Thursday, February 8th. The utilities provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.11. Black Hills had a net margin of 11.25% and a return on equity of 8.09%. The business had revenue of $591.70 million for the quarter, compared to analyst estimates of $863.67 million. During the same quarter in the previous year, the business earned $1.11 earnings per share. Analysts forecast that Black Hills Co. will post 3.9 EPS for the current year.

Black Hills Increases Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Royal Bank of Canada reduced their target price on Black Hills from $61.00 to $57.00 and set a “sector perform” rating on the stock in a report on Friday, February 9th. StockNews.com lowered shares of Black Hills from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Scotiabank upped their target price on Black Hills from $57.00 to $58.00 and gave the stock a “sector perform” rating in a research note on Friday, February 9th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $55.80.

Black Hills Company 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.