Hunter Perkins Capital Management LLC decreased its holdings in Black Hills Corporation (NYSE:BKH - Free Report) by 2.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 219,218 shares of the utilities provider's stock after selling 5,822 shares during the period. Black Hills comprises approximately 3.1% of Hunter Perkins Capital Management LLC's portfolio, making the stock its 6th largest position. Hunter Perkins Capital Management LLC owned 0.30% of Black Hills worth $13,296,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of BKH. Bessemer Group Inc. boosted its holdings in 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 purchasing an additional 218,258 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Black Hills by 1.1% in the 1st quarter. International Assets Investment Management LLC now owns 30,354 shares of the utilities provider's stock valued at $1,841,000 after buying an additional 334 shares during the period. Uncommon Cents Investing LLC grew its position in shares of Black Hills by 4.7% during the first quarter. Uncommon Cents Investing LLC now owns 11,055 shares of the utilities provider's stock worth $670,000 after buying an additional 495 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Black Hills by 1.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 46,708 shares of the utilities provider's stock worth $2,833,000 after buying an additional 593 shares in the last quarter. Finally, Alta Capital Management LLC increased its stake in shares of Black Hills by 9.7% during the first quarter. Alta Capital Management LLC now owns 55,715 shares of the utilities provider's stock worth $3,379,000 after buying an additional 4,910 shares during the period. Hedge funds and other institutional investors own 86.71% of the company's stock.
Black Hills Stock Up 0.4%
NYSE BKH traded up $0.21 during trading on Monday, reaching $56.15. 393,142 shares of the company's stock were exchanged, compared to its average volume of 465,524. The company has a 50 day moving average price of $58.38 and a two-hundred day moving average price of $58.86. The stock has a market cap of $4.07 billion, a P/E ratio of 14.32, a price-to-earnings-growth ratio of 2.59 and a beta of 0.72. Black Hills Corporation has a 1 year low of $53.22 and a 1 year high of $65.59. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.62 and a current ratio of 0.76.
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 the consensus estimate 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%. Black Hills's revenue was up 10.8% on a year-over-year basis. During the same period last year, the business posted $1.87 EPS. On average, equities research analysts anticipate that Black Hills Corporation will post 4.12 EPS for the current fiscal year.
Black Hills Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Friday, May 16th were paid a dividend of $0.676 per share. The ex-dividend date was Friday, May 16th. This represents a $2.70 annualized dividend and a yield of 4.82%. Black Hills's dividend payout ratio is currently 68.88%.
Analysts Set New Price Targets
Separately, BMO Capital Markets assumed coverage on shares of Black Hills in a research note on Tuesday, May 13th. They issued an "outperform" rating and a $68.00 price target for the company.
Read Our Latest Stock Report on Black Hills
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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