Mackenzie Financial Corp Has $3.31 Million Stock Position in Black Hills Co. (NYSE:BKH)

Mackenzie Financial Corp raised its position in Black Hills Co. (NYSE:BKH - Free Report) by 1,285.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 61,385 shares of the utilities provider's stock after acquiring an additional 56,954 shares during the period. Mackenzie Financial Corp owned about 0.09% of Black Hills worth $3,312,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of BKH. Vanguard Group Inc. boosted its position in shares of Black Hills by 3.7% during the 3rd quarter. Vanguard Group Inc. now owns 7,821,296 shares of the utilities provider's stock valued at $395,679,000 after acquiring an additional 279,987 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in shares of Black Hills by 16.3% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,344,162 shares of the utilities provider's stock valued at $68,001,000 after purchasing an additional 188,266 shares during the period. Northern Trust Corp raised its holdings in shares of Black Hills by 0.4% in the 3rd quarter. Northern Trust Corp now owns 957,856 shares of the utilities provider's stock worth $48,458,000 after buying an additional 3,925 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Black Hills by 2.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 884,408 shares of the utilities provider's stock worth $44,742,000 after buying an additional 18,942 shares during the period. Finally, Invesco Ltd. boosted its stake in Black Hills by 15.6% in the 3rd quarter. Invesco Ltd. now owns 786,811 shares of the utilities provider's stock valued at $39,805,000 after buying an additional 106,464 shares in the last quarter. Institutional investors own 86.71% of the company's stock.

Black Hills Price Performance

NYSE:BKH traded up $0.05 during mid-day trading on Tuesday, reaching $54.37. 330,764 shares of the company were exchanged, compared to its average volume of 547,315. Black Hills Co. has a 12 month low of $46.43 and a 12 month high of $66.85. The stock has a market cap of $3.71 billion, a PE ratio of 13.87 and a beta of 0.64. The company has a quick ratio of 0.56, a current ratio of 0.70 and a debt-to-equity ratio of 1.15. The company has a fifty day moving average of $52.79 and a 200 day moving average of $52.18.

Black Hills (NYSE:BKH - Get Free Report) last issued its quarterly earnings results on Thursday, February 8th. The utilities provider reported $1.17 earnings per share for the quarter, beating analysts' consensus estimates of $1.06 by $0.11. Black Hills had a net margin of 11.25% and a return on equity of 8.09%. The business had revenue of $591.70 million during the quarter, compared to analyst estimates of $863.67 million. During the same quarter last year, the business posted $1.11 earnings per share. On average, research analysts anticipate that Black Hills Co. will post 3.9 EPS for the current fiscal year.

Black Hills Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were issued a $0.65 dividend. This is a positive change from Black Hills's previous quarterly dividend of $0.63. This represents a $2.60 annualized dividend and a yield of 4.78%. The ex-dividend date was Thursday, February 15th. Black Hills's dividend payout ratio is currently 66.33%.

Wall Street Analyst Weigh In

BKH has been the subject of a number of analyst reports. StockNews.com cut Black Hills from a "hold" rating to a "sell" rating in a report on Thursday, March 28th. Royal Bank of Canada cut their price target on shares of Black Hills from $61.00 to $57.00 and set a "sector perform" rating for the company in a report on Friday, February 9th. Finally, Scotiabank decreased their price objective on shares of Black Hills from $58.00 to $54.00 and set a "sector perform" rating on the stock in a research note on Monday. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $55.00.

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.