Great Lakes Advisors LLC Sells 11,746 Shares of Black Hills Corporation $BKH

Key Points

• Great Lakes Advisors LLC sold 11,746 shares of Black Hills Corporation, reducing its holdings by 6.6% in the first quarter, and now owns approximately 0.23% of the company with a valuation of $10.16 million.
• Bank of America Corp DE significantly increased its holdings in Black Hills by 203.6% during the fourth quarter, owning nearly 508,000 shares worth about $29.73 million.
• Black Hills announced a quarterly dividend of $0.676, yielding 4.6% annually, with a payout ratio of 68.01%, reflecting its commitment to returning value to shareholders.

Great Lakes Advisors LLC lessened its holdings in shares of Black Hills Corporation (NYSE:BKH - Free Report) by 6.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 167,512 shares of the utilities provider's stock after selling 11,746 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.23% of Black Hills worth $10,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of BKH. Bank of America Corp DE boosted its stake in shares of Black Hills by 203.6% during the 4th quarter. Bank of America Corp DE now owns 507,986 shares of the utilities provider's stock worth $29,727,000 after acquiring an additional 340,686 shares during the last quarter. Captrust Financial Advisors lifted its stake in Black Hills by 14.2% in the 4th quarter. Captrust Financial Advisors now owns 6,742 shares of the utilities provider's stock worth $395,000 after purchasing an additional 838 shares in the last quarter. EP Wealth Advisors LLC lifted its stake in Black Hills by 5.9% in the 4th quarter. EP Wealth Advisors LLC now owns 3,528 shares of the utilities provider's stock worth $206,000 after purchasing an additional 197 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Black Hills by 6.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,892 shares of the utilities provider's stock worth $2,334,000 after purchasing an additional 2,325 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in Black Hills by 113.6% in the 4th quarter. Millennium Management LLC now owns 463,459 shares of the utilities provider's stock worth $27,122,000 after purchasing an additional 246,500 shares in the last quarter. Hedge funds and other institutional investors own 86.71% of the company's stock.

Analyst Ratings Changes

Separately, Bank of America upgraded shares of Black Hills from an "underperform" rating to a "neutral" rating and boosted their price target for the stock from $57.00 to $64.00 in a research note on Wednesday, August 20th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $66.00.

Black Hills Price Performance

Shares of Black Hills stock traded down $0.05 during trading hours on Friday, reaching $59.37. The company's stock had a trading volume of 338,145 shares, compared to its average volume of 604,200. The firm has a 50 day moving average price of $58.78 and a 200-day moving average price of $58.81. Black Hills Corporation has a one year low of $54.92 and a one year high of $65.59. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.64 and a quick ratio of 0.49. The stock has a market cap of $4.32 billion, a P/E ratio of 14.95, a P/E/G ratio of 2.75 and a beta of 0.74.

Black Hills (NYSE:BKH - Get Free Report) last posted its earnings results on Wednesday, July 30th. The utilities provider reported $0.38 earnings per share for the quarter, hitting analysts' consensus estimates of $0.38. Black Hills had a net margin of 12.68% and a return on equity of 7.81%. The firm had revenue of $439.00 million for the quarter, compared to the consensus estimate of $412.69 million. During the same period in the previous year, the firm posted $0.33 EPS. The business's quarterly revenue was up 8.9% on a year-over-year basis. Black Hills has set its FY 2025 guidance at 4.000-4.200 EPS. On average, analysts predict that Black Hills Corporation will post 4.12 EPS for the current year.

Black Hills Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were issued a dividend of $0.676 per share. This represents a $2.70 annualized dividend and a yield of 4.6%. The ex-dividend date was Monday, August 18th. Black Hills's dividend payout ratio is presently 68.01%.

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.