Millennium Management LLC grew its position in Black Hills Co. (NYSE:BKH - Free Report) by 113.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 463,459 shares of the utilities provider's stock after purchasing an additional 246,500 shares during the period. Millennium Management LLC owned approximately 0.65% of Black Hills worth $27,122,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Black Hills by 6.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,892 shares of the utilities provider's stock worth $2,334,000 after buying an additional 2,325 shares during the period. Invenomic Capital Management LP grew its stake in shares of Black Hills by 8.2% in the fourth quarter. Invenomic Capital Management LP now owns 146,171 shares of the utilities provider's stock worth $8,554,000 after purchasing an additional 11,020 shares in the last quarter. DC Investments Management LLC increased its holdings in shares of Black Hills by 69.3% during the fourth quarter. DC Investments Management LLC now owns 31,227 shares of the utilities provider's stock valued at $1,827,000 after purchasing an additional 12,780 shares during the period. EP Wealth Advisors LLC raised its stake in shares of Black Hills by 5.9% during the fourth quarter. EP Wealth Advisors LLC now owns 3,528 shares of the utilities provider's stock valued at $206,000 after purchasing an additional 197 shares in the last quarter. Finally, Brevan Howard Capital Management LP lifted its holdings in Black Hills by 41.6% in the fourth quarter. Brevan Howard Capital Management LP now owns 6,919 shares of the utilities provider's stock worth $405,000 after purchasing an additional 2,031 shares during the period. Institutional investors own 86.71% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on BKH shares. Scotiabank lowered their target price on shares of Black Hills from $67.00 to $66.00 and set a "sector perform" rating on the stock in a research note on Friday, February 7th. BMO Capital Markets started coverage on shares of Black Hills in a research note on Tuesday, May 13th. They set an "outperform" rating and a $68.00 price objective on the stock.
Check Out Our Latest Research Report on BKH
Black Hills Trading Up 0.6%
NYSE:BKH opened at $58.86 on Tuesday. The stock has a fifty day simple moving average of $59.67 and a 200 day simple moving average of $59.86. The firm has a market capitalization of $4.27 billion, a price-to-earnings ratio of 15.02, a price-to-earnings-growth ratio of 2.75 and a beta of 0.74. Black Hills Co. has a 1-year low of $51.66 and a 1-year high of $65.59. The company has a quick ratio of 0.77, a current ratio of 0.97 and a debt-to-equity ratio of 1.19.
Black Hills (NYSE:BKH - Get Free Report) last announced its earnings results on Wednesday, May 7th. The utilities provider reported $1.87 EPS for the quarter, missing the consensus estimate of $1.92 by ($0.05). The firm had revenue of $805.20 million during the quarter, compared to analyst estimates of $729.73 million. Black Hills had a return on equity of 7.82% and a net margin of 12.84%. The business's quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.87 earnings per share. Sell-side analysts forecast that Black Hills Co. will post 4.12 earnings per share for the current year.
Black Hills Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Friday, May 16th will be issued a dividend of $0.676 per share. The ex-dividend date is Friday, May 16th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.59%. Black Hills's dividend payout ratio is 68.88%.
About Black Hills
(
Free Report)
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.
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