Ontario Teachers Pension Plan Board Has $3.08 Million Holdings in Black Hills Corporation (NYSE:BKH)

Key Points

• The Ontario Teachers Pension Plan Board increased its holdings in Black Hills Corporation by 18.6%, owning 50,845 shares valued at approximately $3.08 million as of the latest SEC filing.
• Black Hills reported a quarterly revenue of $439 million, exceeding analysts' expectations, with a year-over-year revenue growth of 8.9%.
• The company announced a quarterly dividend of $0.676 per share, representing an annualized dividend yield of 4.5%, with a payout ratio of 68.01%.

Ontario Teachers Pension Plan Board grew its position in Black Hills Corporation (NYSE:BKH - Free Report) by 18.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,845 shares of the utilities provider's stock after buying an additional 7,985 shares during the quarter. Ontario Teachers Pension Plan Board owned approximately 0.07% of Black Hills worth $3,084,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in BKH. Principal Financial Group Inc. boosted its holdings in shares of Black Hills by 1.9% during the first quarter. Principal Financial Group Inc. now owns 215,402 shares of the utilities provider's stock worth $13,064,000 after purchasing an additional 4,077 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Black Hills by 15.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,918 shares of the utilities provider's stock valued at $480,000 after acquiring an additional 1,087 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Black Hills by 215.5% in the first quarter. Farther Finance Advisors LLC now owns 1,647 shares of the utilities provider's stock valued at $100,000 after acquiring an additional 1,125 shares during the last quarter. GAMMA Investing LLC lifted its stake in Black Hills by 59.2% in the first quarter. GAMMA Investing LLC now owns 605 shares of the utilities provider's stock valued at $37,000 after acquiring an additional 225 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Black Hills in the fourth quarter worth $96,000. 86.71% of the stock is currently owned by institutional investors and hedge funds.

Black Hills Stock Performance

Black Hills stock traded down $0.26 on Monday, hitting $60.62. The company's stock had a trading volume of 146,529 shares, compared to its average volume of 519,634. The firm has a market cap of $4.42 billion, a P/E ratio of 15.27, a price-to-earnings-growth ratio of 2.82 and a beta of 0.71. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 1.06. The company has a fifty day moving average price of $57.17 and a 200-day moving average price of $58.70. Black Hills Corporation has a one year low of $54.92 and a one year high of $65.59.

Black Hills (NYSE:BKH - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 analyst estimates of $412.69 million. During the same quarter in the previous year, the firm posted $0.33 EPS. The business's revenue for the quarter was up 8.9% on a year-over-year basis. On average, equities analysts anticipate that Black Hills Corporation will post 4.12 earnings per share for the current year.

Black Hills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be issued a dividend of $0.676 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $2.70 dividend on an annualized basis and a yield of 4.5%. Black Hills's dividend payout ratio is currently 68.01%.

Analysts Set New Price Targets

Separately, BMO Capital Markets started 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 for the company.

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.