Bank of New York Mellon Corp Sells 13,715 Shares of Black Hills Corporation (NYSE:BKH)

Bank of New York Mellon Corp lowered its holdings in Black Hills Corporation (NYSE:BKH - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 824,179 shares of the utilities provider's stock after selling 13,715 shares during the period. Bank of New York Mellon Corp owned about 1.14% of Black Hills worth $49,986,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Black Hills by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 8,602,223 shares of the utilities provider's stock valued at $503,402,000 after buying an additional 37,790 shares during the period. Capital Research Global Investors raised its stake in shares of Black Hills by 21.5% in the fourth 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 period. Geode Capital Management LLC raised its stake in shares of Black Hills by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 1,698,234 shares of the utilities provider's stock valued at $99,402,000 after buying an additional 35,077 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Black Hills by 3.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,037,622 shares of the utilities provider's stock valued at $60,721,000 after buying an additional 37,487 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Black Hills by 11.6% in the fourth quarter. Northern Trust Corp now owns 1,016,477 shares of the utilities provider's stock valued at $59,484,000 after buying an additional 105,608 shares during the period. Hedge funds and other institutional investors own 86.71% of the company's stock.

Black Hills Stock Performance

Shares of BKH traded up $0.12 during mid-day trading on Thursday, hitting $57.08. The stock had a trading volume of 487,868 shares, compared to its average volume of 476,170. 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 Corporation has a 52 week low of $54.92 and a 52 week high of $65.59. The firm has a market cap of $4.14 billion, a P/E ratio of 14.56, a PEG ratio of 2.64 and a beta of 0.70. The business has a fifty day moving average price of $57.27 and a 200-day moving average price of $58.65.

Black Hills (NYSE:BKH - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $1.87 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.92 by ($0.05). Black Hills had a net margin of 12.67% and a return on equity of 7.83%. The company had revenue of $805.20 million for the quarter, compared to the consensus estimate of $729.73 million. During the same quarter in the previous year, the firm posted $1.87 earnings per share. The business's revenue for the quarter 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 year.

Black Hills Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.74%. Black Hills's payout ratio is 68.88%.

Analyst Upgrades and Downgrades

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

About Black Hills

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.