Janus Henderson Group PLC Has $27.94 Million Holdings in Black Hills Co. (NYSE:BKH)

Janus Henderson Group PLC cut its holdings in shares of Black Hills Co. (NYSE:BKH) by 50.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 511,813 shares of the utilities provider’s stock after selling 522,778 shares during the period. Janus Henderson Group PLC owned about 0.74% of Black Hills worth $27,944,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Financial Advocates Investment Management boosted its stake in shares of Black Hills by 4.2% in the 4th quarter. Financial Advocates Investment Management now owns 4,988 shares of the utilities provider’s stock valued at $269,000 after purchasing an additional 200 shares in the last quarter. Uncommon Cents Investing LLC lifted its stake in shares of Black Hills by 2.0% in the 1st quarter. Uncommon Cents Investing LLC now owns 10,710 shares of the utilities provider’s stock valued at $585,000 after acquiring an additional 210 shares during the last quarter. Retirement Systems of Alabama boosted its holdings in shares of Black Hills by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 85,382 shares of the utilities provider’s stock valued at $4,662,000 after acquiring an additional 225 shares in the last quarter. Legacy Financial Advisors Inc. increased its holdings in Black Hills by 2.8% in the 4th quarter. Legacy Financial Advisors Inc. now owns 8,188 shares of the utilities provider’s stock worth $442,000 after purchasing an additional 226 shares in the last quarter. Finally, Fifth Third Bancorp raised its position 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 purchasing an additional 234 shares during the last quarter. 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 Black Hills stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $54.84, for a total value of $169,674.96. Following the completion of the sale, the director now owns 7,956 shares in the company, valued at approximately $436,307.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.61% of the company’s stock.

Black Hills Trading Up 0.3 %

Black Hills stock traded up $0.17 during mid-day trading on Wednesday, hitting $59.12. 70,829 shares of the stock were exchanged, compared to its average volume of 488,517. The firm’s fifty day simple moving average is $55.17 and its two-hundred day simple moving average is $53.85. 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 Co. has a 12 month low of $46.43 and a 12 month high of $61.01. The stock has a market capitalization of $4.08 billion, a price-to-earnings ratio of 14.52 and a beta of 0.69.

Black Hills (NYSE:BKH) last announced its earnings results on Wednesday, May 8th. The utilities provider reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.17. Black Hills had a net margin of 12.92% and a return on equity of 8.37%. The business had revenue of $726.40 million during the quarter, compared to the consensus estimate of $683.00 million. During the same quarter last year, the firm earned $1.73 earnings per share. Black Hills’s quarterly revenue was down 21.1% on a year-over-year basis. Analysts forecast that Black Hills Co. will post 3.92 EPS for the current year.

Black Hills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Monday, August 19th will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend is Monday, August 19th. Black Hills’s dividend payout ratio (DPR) is presently 64.04%.

Analysts Set New Price Targets

Several research firms have recently weighed in on BKH. Mizuho boosted their price target on Black Hills from $53.00 to $57.00 and gave the stock a “neutral” rating in a report on Tuesday, June 4th. StockNews.com raised shares of Black Hills from a “sell” rating to a “hold” rating in a report on Thursday, May 9th. Wells Fargo & Company raised their price target on shares of Black Hills from $56.00 to $61.00 and gave the company an “equal weight” rating in a research note on Friday, May 10th. Finally, Scotiabank cut their price target on shares of Black Hills from $58.00 to $54.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $55.60.

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.