Harbor Capital Advisors Inc. Boosts Stake in Black Hills Co. (NYSE:BKH)

Harbor Capital Advisors Inc. lifted its holdings in Black Hills Co. (NYSE:BKH - Free Report) by 36.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,021 shares of the utilities provider's stock after acquiring an additional 5,867 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Black Hills were worth $1,336,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Smartleaf Asset Management LLC boosted its holdings in Black Hills by 66.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 432 shares of the utilities provider's stock worth $25,000 after buying an additional 173 shares in the last quarter. Larson Financial Group LLC boosted its holdings in Black Hills by 182.8% during the fourth quarter. Larson Financial Group LLC now owns 461 shares of the utilities provider's stock worth $27,000 after buying an additional 298 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in Black Hills by 373.2% during the fourth quarter. Global Retirement Partners LLC now owns 530 shares of the utilities provider's stock worth $31,000 after buying an additional 418 shares in the last quarter. Quarry LP boosted its holdings in Black Hills by 1,159.7% during the fourth quarter. Quarry LP now owns 781 shares of the utilities provider's stock worth $46,000 after buying an additional 719 shares in the last quarter. Finally, Marshall Investment Management LLC purchased a new stake in Black Hills during the fourth quarter worth $54,000. Institutional investors and hedge funds own 86.71% of the company's stock.

Analysts Set New Price Targets

Separately, BMO Capital Markets began coverage on shares of Black Hills in a report on Tuesday, May 13th. They set an "outperform" rating and a $68.00 price target on the stock.

Black Hills Price Performance

BKH traded down $0.62 during midday trading on Monday, hitting $56.21. 386,493 shares of the company traded hands, compared to its average volume of 457,833. The business has a 50 day simple moving average of $58.95 and a two-hundred day simple moving average of $59.23. Black Hills Co. has a 52-week low of $51.99 and a 52-week high of $65.59. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 2.75 and a beta of 0.72. The company has a current ratio of 0.97, a quick ratio of 0.77 and a debt-to-equity ratio of 1.19.

Black Hills (NYSE:BKH - Get Free Report) last announced its earnings results on Wednesday, May 7th. The utilities provider reported $1.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.92 by ($0.05). Black Hills had a net margin of 12.84% and a return on equity of 7.82%. The company had revenue of $805.20 million during the quarter, compared to analyst estimates of $729.73 million. During the same quarter last year, the business earned $1.87 EPS. The firm's revenue for the quarter was up 10.8% compared to the same quarter last year. On average, equities analysts forecast that Black Hills Co. will post 4.12 earnings per share for the current fiscal year.

Black Hills Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Friday, May 16th were given a $0.676 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.70 annualized dividend and a dividend yield of 4.81%. Black Hills's dividend payout ratio (DPR) is 68.88%.

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.