Summit Global Investments Raises Holdings in Black Hills Co. (NYSE:BKH)

Summit Global Investments lifted its position in shares of Black Hills Co. (NYSE:BKH - Free Report) by 61.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,682 shares of the utilities provider's stock after buying an additional 7,135 shares during the period. Summit Global Investments' holdings in Black Hills were worth $1,133,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of BKH. Proficio Capital Partners LLC purchased a new position in Black Hills in the 4th quarter worth approximately $1,113,000. WCM Investment Management LLC increased its stake in Black Hills by 200.7% in the 4th quarter. WCM Investment Management LLC now owns 70,783 shares of the utilities provider's stock worth $4,133,000 after purchasing an additional 47,244 shares during the period. Atria Investments Inc increased its stake in Black Hills by 43.1% in the 4th quarter. Atria Investments Inc now owns 8,407 shares of the utilities provider's stock worth $492,000 after purchasing an additional 2,533 shares during the period. Van ECK Associates Corp increased its stake in Black Hills by 10.6% in the 4th quarter. Van ECK Associates Corp now owns 20,862 shares of the utilities provider's stock worth $1,221,000 after purchasing an additional 2,007 shares during the period. Finally, Wells Fargo & Company MN increased its stake in Black Hills by 17.5% in the 4th quarter. Wells Fargo & Company MN now owns 65,199 shares of the utilities provider's stock worth $3,815,000 after purchasing an additional 9,725 shares during the period. 86.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. BMO Capital Markets assumed coverage on Black Hills in a research note on Tuesday, May 13th. They issued an "outperform" rating and a $68.00 price target on the stock. Scotiabank decreased their price target on Black Hills from $67.00 to $66.00 and set a "sector perform" rating on the stock in a research note on Friday, February 7th.

Black Hills Trading Down 0.7%

Shares of BKH traded down $0.39 during mid-day trading on Wednesday, hitting $58.15. 100,289 shares of the company's stock traded hands, compared to its average volume of 452,519. The company has a quick ratio of 0.77, a current ratio of 0.97 and a debt-to-equity ratio of 1.19. Black Hills Co. has a 1 year low of $51.66 and a 1 year high of $65.59. The firm has a market capitalization of $4.22 billion, a P/E ratio of 14.83, a PEG ratio of 2.75 and a beta of 0.74. The business's 50-day moving average price is $59.29 and its 200-day moving average price is $59.66.

Black Hills (NYSE:BKH - Get Free Report) last posted 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). The business had revenue of $805.20 million for the quarter, compared to analysts' expectations of $729.73 million. Black Hills had a net margin of 12.84% and a return on equity of 7.82%. Black Hills's quarterly revenue was up 10.8% on a year-over-year basis. During the same period last year, the firm posted $1.87 earnings per share. As a group, sell-side analysts forecast that Black Hills Co. will post 4.12 EPS for the current fiscal year.

Black Hills Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Friday, May 16th were paid a $0.676 dividend. The ex-dividend date was Friday, May 16th. This represents a $2.70 annualized dividend and a yield of 4.65%. Black Hills's 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.