Black Hills Corporation (NYSE:BKH) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lowered its holdings in shares of Black Hills Corporation (NYSE:BKH - Free Report) by 16.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,390 shares of the utilities provider's stock after selling 14,000 shares during the quarter. New York State Teachers Retirement System owned approximately 0.10% of Black Hills worth $4,451,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Black Hills by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 8,602,223 shares of the utilities provider's stock valued at $503,402,000 after purchasing an additional 37,790 shares during the last quarter. Capital Research Global Investors increased its holdings in Black Hills by 21.5% during the 4th quarter. Capital Research Global Investors now owns 1,845,088 shares of the utilities provider's stock worth $107,975,000 after purchasing an additional 326,959 shares during the period. Geode Capital Management LLC increased its holdings in shares of Black Hills by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 1,698,234 shares of the utilities provider's stock valued at $99,402,000 after acquiring an additional 35,077 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Black Hills by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,225,653 shares of the utilities provider's stock valued at $71,725,000 after acquiring an additional 39,369 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Black Hills by 3.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,037,622 shares of the utilities provider's stock valued at $60,721,000 after acquiring an additional 37,487 shares during the period. Hedge funds and other institutional investors own 86.71% of the company's stock.

Analyst Ratings Changes

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

Black Hills Price Performance

Shares of BKH stock traded down $0.39 during trading hours on Tuesday, reaching $56.06. The company had a trading volume of 39,871 shares, compared to its average volume of 466,844. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.62 and a current ratio of 0.76. The stock has a fifty day moving average of $57.91 and a 200-day moving average of $58.75. The company has a market capitalization of $4.06 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 2.64 and a beta of 0.70. Black Hills Corporation has a 12-month low of $53.22 and a 12-month high of $65.59.

Black Hills (NYSE:BKH - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $1.87 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 business had revenue of $805.20 million during the quarter, compared to analyst estimates of $729.73 million. During the same quarter in the prior year, the company posted $1.87 earnings per share. The company's revenue was up 10.8% on a year-over-year basis. On average, equities 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 announced a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Friday, May 16th were issued a $0.676 dividend. This represents a $2.70 annualized dividend and a yield of 4.82%. The ex-dividend date was Friday, May 16th. Black Hills's dividend payout ratio (DPR) is presently 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.