Envestnet Asset Management Inc. Has $3.59 Million Stake in Black Hills Corporation (NYSE:BKH)

Envestnet Asset Management Inc. lifted its position in shares of Black Hills Corporation (NYSE:BKH - Free Report) by 9.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,163 shares of the utilities provider's stock after acquiring an additional 5,075 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.08% of Black Hills worth $3,588,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Black Hills by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 8,602,223 shares of the utilities provider's stock valued at $503,402,000 after acquiring an additional 37,790 shares in the last quarter. Capital Research Global Investors increased 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 increased 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 position in shares of Black Hills by 3.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,037,622 shares of the utilities provider's stock worth $60,721,000 after acquiring an additional 37,487 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Black Hills by 11.6% during the fourth quarter. Northern Trust Corp now owns 1,016,477 shares of the utilities provider's stock worth $59,484,000 after acquiring an additional 105,608 shares during the last quarter. Institutional investors and hedge funds own 86.71% of the company's stock.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets assumed coverage on Black Hills in a research report on Tuesday, May 13th. They set an "outperform" rating and a $68.00 price objective for the company.

Black Hills Price Performance

Shares of BKH opened at $56.72 on Friday. Black Hills Corporation has a 1 year low of $54.92 and a 1 year high of $65.59. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.76 and a quick ratio of 0.62. The company has a market capitalization of $4.11 billion, a price-to-earnings ratio of 14.47, a price-to-earnings-growth ratio of 2.62 and a beta of 0.70. The business has a 50-day moving average of $57.14 and a 200-day moving average of $58.65.

Black Hills (NYSE:BKH - Get Free Report) last issued 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). The company had revenue of $805.20 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the business earned $1.87 earnings per share. As a group, equities research analysts anticipate that Black Hills Corporation will post 4.12 earnings per share for the current year.

Black Hills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be paid a $0.676 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date is Monday, August 18th. Black Hills's dividend payout ratio is 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.

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