Mackenzie Financial Corp Sells 53,417 Shares of Black Hills Co. (NYSE:BKH)

Mackenzie Financial Corp decreased its position in Black Hills Co. (NYSE:BKH - Free Report) by 37.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 90,419 shares of the utilities provider's stock after selling 53,417 shares during the period. Mackenzie Financial Corp owned about 0.13% of Black Hills worth $5,291,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Smartleaf Asset Management LLC boosted its holdings in Black Hills by 66.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 432 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 173 shares in the last quarter. Larson Financial Group LLC boosted its holdings in Black Hills by 182.8% in the fourth quarter. Larson Financial Group LLC now owns 461 shares of the utilities provider's stock valued at $27,000 after acquiring an additional 298 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in Black Hills by 373.2% in the fourth quarter. Global Retirement Partners LLC now owns 530 shares of the utilities provider's stock valued at $31,000 after acquiring an additional 418 shares in the last quarter. Quarry LP boosted its holdings in Black Hills by 1,159.7% in the fourth quarter. Quarry LP now owns 781 shares of the utilities provider's stock valued at $46,000 after acquiring an additional 719 shares in the last quarter. Finally, Marshall Investment Management LLC bought a new stake in Black Hills in the fourth quarter valued at $54,000. Institutional investors own 86.71% of the company's stock.

Analyst Upgrades and Downgrades

BKH has been the subject of several recent research reports. BMO Capital Markets initiated coverage on Black Hills in a research report on Tuesday, May 13th. They set an "outperform" rating and a $68.00 price objective for the company. Scotiabank lowered their price objective on Black Hills from $67.00 to $66.00 and set a "sector perform" rating for the company in a research report on Friday, February 7th.

Black Hills Stock Down 0.2%

Shares of BKH traded down $0.09 during trading hours on Monday, hitting $58.38. The company had a trading volume of 504,149 shares, compared to its average volume of 454,186. The firm has a fifty day moving average price of $59.31 and a 200-day moving average price of $59.67. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.77 and a current ratio of 0.97. The stock has a market capitalization of $4.23 billion, a price-to-earnings ratio of 14.89, a P/E/G ratio of 2.75 and a beta of 0.74. Black Hills Co. has a 52-week low of $51.66 and a 52-week high of $65.59.

Black Hills (NYSE:BKH - Get Free Report) last issued its earnings results on Wednesday, May 7th. The utilities provider reported $1.87 earnings per share for the quarter, missing analysts' consensus estimates of $1.92 by ($0.05). Black Hills had a return on equity of 7.82% and a net margin of 12.84%. The business had revenue of $805.20 million during the quarter, compared to analysts' expectations of $729.73 million. During the same period last year, the firm posted $1.87 EPS. Black Hills's quarterly revenue was up 10.8% compared to the same quarter last year. On average, equities research analysts forecast that Black Hills Co. will post 4.12 EPS for the current fiscal year.

Black Hills Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Friday, May 16th were given a $0.676 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date was Friday, May 16th. Black Hills's dividend payout ratio (DPR) is 68.88%.

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.