Zimmer Partners LP Has $86.15 Million Stock Position in Black Hills Co. (NYSE:BKH)

Zimmer Partners LP lowered its stake in Black Hills Co. (NYSE:BKH - Free Report) by 6.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,472,204 shares of the utilities provider's stock after selling 104,591 shares during the quarter. Black Hills comprises approximately 1.5% of Zimmer Partners LP's holdings, making the stock its 19th largest holding. Zimmer Partners LP owned 2.06% of Black Hills worth $86,153,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Proficio Capital Partners LLC acquired a new stake in Black Hills during the 4th quarter worth $1,113,000. WCM Investment Management LLC raised its stake in Black Hills by 200.7% during the 4th quarter. WCM Investment Management LLC now owns 70,783 shares of the utilities provider's stock worth $4,133,000 after buying an additional 47,244 shares during the period. Atria Investments Inc raised its stake in Black Hills by 43.1% during the 4th quarter. Atria Investments Inc now owns 8,407 shares of the utilities provider's stock worth $492,000 after buying an additional 2,533 shares during the period. Van ECK Associates Corp raised its stake in Black Hills by 10.6% during the 4th quarter. Van ECK Associates Corp now owns 20,862 shares of the utilities provider's stock worth $1,221,000 after buying an additional 2,007 shares during the period. Finally, Wells Fargo & Company MN raised its stake in Black Hills by 17.5% during the 4th quarter. Wells Fargo & Company MN now owns 65,199 shares of the utilities provider's stock worth $3,815,000 after buying an additional 9,725 shares during the period. Institutional investors and hedge funds own 86.71% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. BMO Capital Markets assumed coverage on Black Hills in a research note on Tuesday, May 13th. They set an "outperform" rating and a $68.00 price objective on the stock. Scotiabank dropped their price objective 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 Stock Performance

BKH opened at $58.86 on Tuesday. The business's 50-day moving average price is $59.67 and its two-hundred day moving average price is $59.86. Black Hills Co. has a 1 year low of $51.66 and a 1 year high of $65.59. The company has a market capitalization of $4.27 billion, a price-to-earnings ratio of 15.02, a P/E/G ratio of 2.75 and a beta of 0.74. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.97 and a quick ratio of 0.77.

Black Hills (NYSE:BKH - Get Free Report) last released its quarterly 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 12.84% and a return on equity of 7.82%. The firm had revenue of $805.20 million during the quarter, compared to analyst estimates of $729.73 million. During the same period in the prior year, the business earned $1.87 EPS. The business's revenue for the quarter was up 10.8% compared to the same quarter last year. Equities analysts expect that Black Hills Co. will post 4.12 EPS for the current fiscal year.

Black Hills Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Friday, May 16th will be paid a $0.676 dividend. This represents a $2.70 annualized dividend and a dividend yield of 4.59%. The ex-dividend date of this dividend is Friday, May 16th. Black Hills's dividend payout ratio is 68.88%.

Black Hills Company 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.

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