Assenagon Asset Management S.A. Sells 31,845 Shares of Black Hills Co. (NYSE:BKH)

Assenagon Asset Management S.A. decreased its position in Black Hills Co. (NYSE:BKH) by 9.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 297,633 shares of the utilities provider’s stock after selling 31,845 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Black Hills were worth $18,191,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in BKH. AQR Capital Management LLC raised its stake in Black Hills by 31.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,147,939 shares of the utilities provider’s stock worth $62,425,000 after purchasing an additional 275,994 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Black Hills by 54.5% during the second quarter. Victory Capital Management Inc. now owns 481,415 shares of the utilities provider’s stock worth $26,179,000 after purchasing an additional 169,827 shares during the period. Jupiter Asset Management Ltd. raised its position in shares of Black Hills by 39.7% in the first quarter. Jupiter Asset Management Ltd. now owns 483,120 shares of the utilities provider’s stock valued at $26,378,000 after buying an additional 137,356 shares in the last quarter. Mackenzie Financial Corp grew its position in Black Hills by 324.7% during the second quarter. Mackenzie Financial Corp now owns 127,243 shares of the utilities provider’s stock worth $6,919,000 after buying an additional 97,285 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Black Hills by 8.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 978,497 shares of the utilities provider’s stock worth $53,210,000 after acquiring an additional 78,958 shares during the period. Institutional investors own 86.71% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on BKH. Wells Fargo & Company upped their target price on Black Hills from $61.00 to $64.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Scotiabank upped their price objective on shares of Black Hills from $54.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat.com, Black Hills presently has an average rating of “Hold” and an average target price of $58.00.

Black Hills Trading Down 0.9 %

Shares of BKH opened at $59.87 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.94 and a current ratio of 1.06. Black Hills Co. has a 52-week low of $47.49 and a 52-week high of $62.20. The firm has a market cap of $4.13 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 4.19 and a beta of 0.69. The business’s fifty day moving average is $59.95 and its 200-day moving average is $57.02.

Black Hills (NYSE:BKH) last issued its earnings results on Wednesday, July 31st. The utilities provider reported $0.33 EPS for the quarter, topping the consensus estimate of $0.29 by $0.04. The firm 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 8.21% and a net margin of 12.96%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.35 earnings per share. Equities analysts anticipate that Black Hills Co. will post 3.9 EPS for the current fiscal year.

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.