On September 14, 2023, it was reported that &ProShare Advisors LLC had reduced its stake in Black Hills Co. (NYSE:BKH) by 3.7% during the first quarter of the year. According to the company’s most recent filing with the Securities & Exchange Commission, the institutional investor now owns 648,126 shares of the utilities provider’s stock after selling 25,071 shares during the quarter. At that time, ProShare Advisors LLC accounted for approximately 0.97% of Black Hills, with a total value of $40,897,000.
Black Hills Co., a leading utilities provider, also made an announcement regarding their quarterly dividend. The dividend was paid on Friday, September 1st to investors who were recorded as shareholders on Friday, August 18th. Each shareholder received a dividend of $0.625 per share. The ex-dividend date for this payment was Thursday, August 17th.
By analyzing these figures and financial details provided by Black Hills Co., it can be calculated that this dividend represents an annualized basis of $2.50 per share and a yield of 4.52%. It is important to note that Black Hills has a current payout ratio of 67.02%.
This recent move by &ProShare Advisors LLC to reduce its stake in Black Hills Co. could suggest changes in their investment portfolio strategy or a reassessment of the market conditions in which Black Hills operates.
As always with financial matters like these, it is advisable for investors and individuals interested in the stock market to conduct thorough research and analysis before making any decisions about investing or divesting from particular companies or sectors.
It is recommended to refer to official filings with regulatory bodies such as the Securities & Exchange Commission for detailed and up-to-date information regarding company ownership and financial performance.
Overall, these developments involving ProShare Advisors LLC lowering its stake in Black Hills Co., coupled with the recent dividend announcement, provide insight into the dynamic nature of the stock market and the various factors that can influence investment decisions.
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Analyzing Investor Sentiment and Financial Performance of Black Hills (NYSE:BKH)
Black Hills (NYSE:BKH) is a utilities provider that has recently attracted attention from hedge funds and institutional investors. Several hedge funds, including SG Americas Securities LLC and Franklin Resources Inc., have increased their holdings in Black Hills, while others like HighTower Advisors LLC and Farmers & Merchants Investments Inc. have also grown their investments. In fact, hedge funds and other institutional investors now own a significant 86.64% of the company’s stock.
Despite these increased investments, several equities analysts have voiced concerns about the stock. StockNews.com, for example, recently initiated coverage on Black Hills with a “sell” rating. Mizuho and Royal Bank of Canada both lowered their target prices for the stock, expressing less optimism about its future performance.
Shares of BKH opened at $55.32 on September 14th, with a 50-day moving average price of $57.38 and a 200-day moving average price of $60.88. The stock has fluctuated between its fifty-two week low of $53.26 and its fifty-two week high of $78.43.
As for its financial performance, Black Hills last reported its earnings results on August 2nd. The company fell short of analysts’ expectations by reporting an EPS of $0.35 instead of the estimated $0.38 per share. Its net margin was 9.46%, while its return on equity stood at 7.85%. Furthermore, Black Hills saw a decline in revenue from $552.13 million to $411.30 million compared to the same period last year.
With all these factors in mind, it remains uncertain how Black Hills will fare moving forward in terms of both investor sentiment and financial performance, as it grapples with mixed reviews from analysts and recent disappointments in its earnings report.
Investors looking to make informed decisions about purchasing or selling shares should carefully consider the various factors mentioned above, as well as potential market trends and future developments that may impact Black Hills’ performance.
