Massachusetts Financial Services Co. MA Lowers Holdings in Black Hills Corporation (NYSE:BKH)

Massachusetts Financial Services Co. MA lessened its stake in shares of Black Hills Corporation (NYSE:BKH - Free Report) by 2.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 579,487 shares of the utilities provider's stock after selling 14,028 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.80% of Black Hills worth $35,146,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. raised its position in Black Hills by 1.9% in the first quarter. Principal Financial Group Inc. now owns 215,402 shares of the utilities provider's stock valued at $13,064,000 after purchasing an additional 4,077 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in Black Hills by 15.9% in the 1st 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 grew its holdings in Black Hills by 215.5% during the 1st quarter. Farther Finance Advisors LLC now owns 1,647 shares of the utilities provider's stock valued at $100,000 after buying an additional 1,125 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Black Hills by 59.2% during the first quarter. GAMMA Investing LLC now owns 605 shares of the utilities provider's stock worth $37,000 after purchasing an additional 225 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Black Hills in the 4th quarter worth $96,000. Institutional investors own 86.71% of the company's stock.

Black Hills Trading Up 0.2%

Shares of NYSE BKH opened at $57.08 on Friday. The stock has a market cap of $4.14 billion, a price-to-earnings ratio of 14.56, a P/E/G ratio of 2.64 and a beta of 0.70. Black Hills Corporation has a twelve month low of $54.92 and a twelve month high of $65.59. The company's fifty day moving average is $57.27 and its 200-day moving average is $58.65. The company has a quick ratio of 0.62, a current ratio of 0.76 and a debt-to-equity ratio of 1.06.

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). The company had revenue of $805.20 million for the quarter, compared to analyst estimates 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 for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.87 earnings per share. Equities research analysts predict that Black Hills Corporation will post 4.12 EPS for the current year.

Black Hills Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Friday, May 16th were given a dividend of $0.676 per share. The ex-dividend date was Friday, May 16th. This represents a $2.70 annualized dividend and a yield of 4.74%. Black Hills's payout ratio is currently 68.88%.

Wall Street Analysts Forecast Growth

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.