Massachusetts Financial Services Co. MA Sells 14,028 Shares of Black Hills Corporation (NYSE:BKH)

Massachusetts Financial Services Co. MA decreased its position in shares of Black Hills Corporation (NYSE:BKH - Free Report) by 2.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised 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 worth $37,000 after buying an additional 225 shares in the last quarter. Quarry LP boosted its holdings in Black Hills by 1,159.7% in the fourth quarter. Quarry LP now owns 781 shares of the utilities provider's stock valued at $46,000 after purchasing an additional 719 shares during the last quarter. Byrne Asset Management LLC boosted its stake in shares of Black Hills by 238.0% during the 1st quarter. Byrne Asset Management LLC now owns 845 shares of the utilities provider's stock worth $51,000 after acquiring an additional 595 shares in the last quarter. City State Bank purchased a new stake in shares of Black Hills during the 1st quarter worth about $61,000. Finally, New Age Alpha Advisors LLC acquired a new position in shares of Black Hills during the 4th quarter worth about $71,000. Hedge funds and other institutional investors own 86.71% of the company's stock.

Black Hills Price Performance

Shares of BKH traded up $0.77 during mid-day trading on Monday, reaching $57.60. 501,958 shares of the company's stock were exchanged, compared to its average volume of 476,995. The company has a quick ratio of 0.62, a current ratio of 0.76 and a debt-to-equity ratio of 1.06. The company has a market cap of $4.18 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 2.63 and a beta of 0.70. The company has a 50-day simple moving average of $57.24 and a two-hundred day simple moving average of $58.64. Black Hills Corporation has a 52-week low of $54.92 and a 52-week high of $65.59.

Black Hills (NYSE:BKH - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $1.87 EPS for the quarter, missing the consensus estimate of $1.92 by ($0.05). Black Hills had a net margin of 12.67% and a return on equity of 7.83%. The firm had revenue of $805.20 million during the quarter, compared to analysts' expectations of $729.73 million. During the same quarter last year, the company posted $1.87 EPS. The firm's revenue was up 10.8% compared to the same quarter last year. On average, sell-side analysts predict that Black Hills Corporation will post 4.12 EPS for the current fiscal year.

Black Hills Announces Dividend

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 $0.676 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date was Friday, May 16th. Black Hills's payout ratio is 68.88%.

Analysts Set New Price Targets

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