Victory Capital Management Inc. Acquires 100,421 Shares of Black Hills Corporation (NYSE:BKH)

Victory Capital Management Inc. raised its stake in Black Hills Corporation (NYSE:BKH - Free Report) by 18.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 652,003 shares of the utilities provider's stock after buying an additional 100,421 shares during the period. Victory Capital Management Inc. owned approximately 0.90% of Black Hills worth $39,544,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. First Trust Advisors LP grew its position in shares of Black Hills by 309.5% in the fourth quarter. First Trust Advisors LP now owns 953,431 shares of the utilities provider's stock valued at $55,795,000 after purchasing an additional 720,628 shares during the last quarter. Bank of America Corp DE lifted its stake in Black Hills by 203.6% during the fourth quarter. Bank of America Corp DE now owns 507,986 shares of the utilities provider's stock worth $29,727,000 after purchasing an additional 340,686 shares during the period. Capital Research Global Investors raised its stake in Black Hills by 21.5% during the fourth quarter. Capital Research Global Investors now owns 1,845,088 shares of the utilities provider's stock worth $107,975,000 after acquiring an additional 326,959 shares in the last quarter. Millennium Management LLC raised its stake in Black Hills by 113.6% during the fourth quarter. Millennium Management LLC now owns 463,459 shares of the utilities provider's stock worth $27,122,000 after acquiring an additional 246,500 shares in the last quarter. Finally, Bessemer Group Inc. raised its stake in shares of Black Hills by 38,974.6% in the first quarter. Bessemer Group Inc. now owns 218,818 shares of the utilities provider's stock valued at $13,272,000 after acquiring an additional 218,258 shares during the last quarter. Institutional investors and hedge funds own 86.71% of the company's stock.

Black Hills Trading Up 1.4%

Shares of NYSE:BKH traded up $0.77 during mid-day trading on Monday, reaching $57.60. 501,944 shares of the company's stock were exchanged, compared to its average volume of 476,994. The firm has a market capitalization 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 business's fifty day moving average price is $57.24 and its 200-day moving average price is $58.64. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.62 and a current ratio of 0.76. Black Hills Corporation has a twelve month low of $54.92 and a twelve month high of $65.59.

Black Hills (NYSE:BKH - Get Free Report) last released 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 12.67% and a return on equity of 7.83%. The firm had revenue of $805.20 million during the quarter, compared to analyst estimates of $729.73 million. During the same quarter in the previous year, the firm earned $1.87 EPS. Black Hills's quarterly revenue was up 10.8% on a year-over-year basis. On average, research analysts predict that Black Hills Corporation will post 4.12 EPS for the current fiscal year.

Black Hills Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Friday, May 16th were paid a dividend of $0.676 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date of this dividend was Friday, May 16th. Black Hills's payout ratio is currently 68.88%.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets started coverage on shares of Black Hills in a research note on Tuesday, May 13th. They issued 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.