Hunter Perkins Capital Management LLC Has $13.30 Million Stock Position in Black Hills Corporation (NYSE:BKH)

Hunter Perkins Capital Management LLC lowered its holdings in shares of Black Hills Corporation (NYSE:BKH - Free Report) by 2.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 219,218 shares of the utilities provider's stock after selling 5,822 shares during the period. Black Hills comprises 3.1% of Hunter Perkins Capital Management LLC's holdings, making the stock its 6th largest holding. Hunter Perkins Capital Management LLC owned about 0.30% of Black Hills worth $13,296,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. First Trust Advisors LP increased its holdings in Black Hills by 309.5% in the fourth quarter. First Trust Advisors LP now owns 953,431 shares of the utilities provider's stock valued at $55,795,000 after purchasing an additional 720,628 shares during the period. Bank of America Corp DE lifted its holdings in 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 buying an additional 340,686 shares during the period. Capital Research Global Investors grew its position in shares of Black Hills by 21.5% in the 4th quarter. Capital Research Global Investors now owns 1,845,088 shares of the utilities provider's stock valued at $107,975,000 after buying an additional 326,959 shares during the last quarter. Millennium Management LLC increased its stake in shares of Black Hills by 113.6% in the fourth quarter. Millennium Management LLC now owns 463,459 shares of the utilities provider's stock valued at $27,122,000 after buying an additional 246,500 shares during the period. Finally, Bessemer Group Inc. increased its stake in shares of Black Hills by 38,974.6% in the first quarter. Bessemer Group Inc. now owns 218,818 shares of the utilities provider's stock valued at $13,272,000 after buying an additional 218,258 shares during the period. Institutional investors and hedge funds own 86.71% of the company's stock.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets initiated coverage on Black Hills in a research note on Tuesday, May 13th. They issued an "outperform" rating and a $68.00 price objective on the stock.

Black Hills Trading Up 0.1%

Shares of BKH traded up $0.03 during trading hours on Friday, hitting $55.94. 1,037,338 shares of the stock were exchanged, compared to its average volume of 466,398. Black Hills Corporation has a fifty-two week low of $53.22 and a fifty-two week high of $65.59. The business has a 50-day moving average of $58.47 and a 200-day moving average of $58.93. The firm has a market capitalization of $4.06 billion, a P/E ratio of 14.27, a price-to-earnings-growth ratio of 2.58 and a beta of 0.72. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.76 and a quick ratio of 0.62.

Black Hills (NYSE:BKH - Get Free Report) last issued its quarterly 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). The business had revenue of $805.20 million for the quarter, compared to analyst estimates of $729.73 million. Black Hills had a return on equity of 7.83% and a net margin of 12.67%. The business's revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.87 earnings per share. On average, research analysts expect that Black Hills Corporation will post 4.12 EPS for the current year.

Black Hills Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Friday, May 16th were paid a $0.676 dividend. This represents a $2.70 annualized dividend and a yield of 4.83%. The ex-dividend date was Friday, May 16th. Black Hills's dividend payout ratio (DPR) is presently 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.