Zimmer Partners LP Sells 150,900 Shares of Black Hills Corporation $BKH

Key Points

• Zimmer Partners LP has reduced its stake in Black Hills Corporation by 10.2%, now holding approximately $80.14 million worth of shares, representing 1.5% of its total holdings.
• Institutional investors own 86.71% of Black Hills stock, with significant increases in positions from firms like Bank of America and Millennium Management during the fourth quarter.
• Black Hills recently announced a quarterly dividend of $0.676 per share, equating to an annualized yield of 4.6% and a payout ratio of 68.01%.

Zimmer Partners LP lowered its stake in Black Hills Corporation (NYSE:BKH - Free Report) by 10.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,321,304 shares of the utilities provider's stock after selling 150,900 shares during the period. Black Hills makes up 1.5% of Zimmer Partners LP's holdings, making the stock its 21st biggest holding. Zimmer Partners LP owned 1.82% of Black Hills worth $80,137,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. United Services Automobile Association bought a new position in shares of Black Hills in the first quarter worth $255,000. Jones Financial Companies Lllp boosted its stake in Black Hills by 37.8% in the first quarter. Jones Financial Companies Lllp now owns 3,040 shares of the utilities provider's stock valued at $184,000 after buying an additional 834 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its stake in Black Hills by 11.6% in the first quarter. Dynamic Technology Lab Private Ltd now owns 19,590 shares of the utilities provider's stock valued at $1,188,000 after buying an additional 2,041 shares in the last quarter. PharVision Advisers LLC acquired a new stake in Black Hills in the first quarter valued at about $282,000. Finally, NewEdge Advisors LLC boosted its stake in Black Hills by 83.2% in the first quarter. NewEdge Advisors LLC now owns 3,345 shares of the utilities provider's stock valued at $203,000 after buying an additional 1,519 shares in the last quarter. Institutional investors own 86.71% of the company's stock.

Black Hills Trading Down 0.1%

Shares of BKH stock traded down $0.05 during mid-day trading on Friday, reaching $59.37. 338,145 shares of the stock traded hands, compared to its average volume of 638,562. The stock's fifty day simple moving average is $58.78 and its two-hundred day simple moving average is $58.83. Black Hills Corporation has a 1-year low of $54.92 and a 1-year high of $65.59. The company has a market cap of $4.32 billion, a price-to-earnings ratio of 14.95, a price-to-earnings-growth ratio of 2.75 and a beta of 0.74. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 1.06.

Black Hills (NYSE:BKH - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.38 EPS for the quarter, meeting analysts' consensus estimates of $0.38. Black Hills had a return on equity of 7.81% and a net margin of 12.68%.The firm had revenue of $439.00 million for the quarter, compared to analyst estimates of $412.69 million. During the same period last year, the firm posted $0.33 earnings per share. The business's revenue for the quarter was up 8.9% on a year-over-year basis. Black Hills has set its FY 2025 guidance at 4.000-4.200 EPS. On average, research analysts anticipate that Black Hills Corporation will post 4.12 EPS for the current fiscal year.

Black Hills Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were given a dividend of $0.676 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Monday, August 18th. Black Hills's dividend payout ratio (DPR) is 68.01%.

Analyst Upgrades and Downgrades

Separately, Bank of America raised Black Hills from an "underperform" rating to a "neutral" rating and raised their price objective for the company from $57.00 to $64.00 in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $66.00.

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.