Bessemer Group Inc. Raises Stock Position in Black Hills Corporation (NYSE:BKH)

Bessemer Group Inc. increased its holdings in shares of Black Hills Corporation (NYSE:BKH - Free Report) by 38,974.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 218,818 shares of the utilities provider's stock after purchasing an additional 218,258 shares during the quarter. Bessemer Group Inc. owned 0.30% of Black Hills worth $13,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Principal Financial Group Inc. boosted its holdings in shares of Black Hills by 3.8% during the 4th quarter. Principal Financial Group Inc. now owns 211,325 shares of the utilities provider's stock valued at $12,367,000 after acquiring an additional 7,771 shares during the last quarter. Global Retirement Partners LLC grew its position in Black Hills by 373.2% in the 4th quarter. Global Retirement Partners LLC now owns 530 shares of the utilities provider's stock worth $31,000 after purchasing an additional 418 shares during the period. Private Advisor Group LLC lifted its holdings in shares of Black Hills by 74.2% during the 4th quarter. Private Advisor Group LLC now owns 6,975 shares of the utilities provider's stock valued at $408,000 after buying an additional 2,971 shares during the period. Amalgamated Bank lifted its holdings in shares of Black Hills by 2.3% during the 4th quarter. Amalgamated Bank now owns 32,712 shares of the utilities provider's stock valued at $1,914,000 after buying an additional 730 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its stake in shares of Black Hills by 2.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 14,522 shares of the utilities provider's stock worth $850,000 after buying an additional 300 shares during the last quarter. 86.71% of the stock is owned by hedge funds and other institutional investors.

Black Hills Stock Performance

Shares of NYSE:BKH traded up $0.21 during midday trading on Monday, hitting $56.15. The company had a trading volume of 598,416 shares, compared to its average volume of 465,524. Black Hills Corporation has a 12-month low of $53.22 and a 12-month high of $65.59. The company has a fifty day moving average of $58.30 and a two-hundred day moving average of $58.83. The company has a market cap of $4.07 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 2.59 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 EPS for the quarter, missing analysts' consensus estimates of $1.92 by ($0.05). Black Hills had a return on equity of 7.83% and a net margin of 12.67%. The company had revenue of $805.20 million during the quarter, compared to analysts' expectations of $729.73 million. During the same quarter in the previous year, the company earned $1.87 EPS. The business's quarterly revenue was up 10.8% compared to the same quarter last year. On average, equities research analysts expect that Black Hills Corporation will post 4.12 EPS for the current fiscal year.

Black Hills Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Friday, May 16th were issued a dividend of $0.676 per share. This represents a $2.70 annualized dividend and a yield of 4.82%. The ex-dividend date of this dividend was Friday, May 16th. Black Hills's dividend payout ratio is currently 68.88%.

Wall Street Analysts Forecast Growth

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 objective on the stock.

Black Hills Company 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.