The Manufacturers Life Insurance Company Has $23.43 Million Position in Black Hills Co. (NYSE:BKH)

The Manufacturers Life Insurance Company decreased its stake in Black Hills Co. (NYSE:BKH - Free Report) by 6.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 400,393 shares of the utilities provider's stock after selling 25,343 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.56% of Black Hills worth $23,431,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Smartleaf Asset Management LLC raised its stake in shares of Black Hills by 66.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 432 shares of the utilities provider's stock worth $25,000 after buying an additional 173 shares during the last quarter. Barnett & Company Inc. boosted its stake in shares of Black Hills by 2.7% during the fourth quarter. Barnett & Company Inc. now owns 7,500 shares of the utilities provider's stock valued at $439,000 after acquiring an additional 200 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Black Hills by 8.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,919 shares of the utilities provider's stock worth $171,000 after purchasing an additional 222 shares in the last quarter. Assetmark Inc. grew its holdings in shares of Black Hills by 4.1% during the fourth quarter. Assetmark Inc. now owns 6,716 shares of the utilities provider's stock worth $393,000 after buying an additional 263 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in Black Hills by 3.4% in the 4th quarter. State of Alaska Department of Revenue now owns 8,162 shares of the utilities provider's stock worth $477,000 after acquiring an additional 270 shares during the period. 86.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, 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 3.6 %

Shares of Black Hills stock traded down $2.19 during trading hours on Thursday, reaching $59.56. The stock had a trading volume of 222,474 shares, compared to its average volume of 472,469. The firm has a 50 day simple moving average of $59.97 and a two-hundred day simple moving average of $59.95. The company has a current ratio of 0.97, a quick ratio of 0.77 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 $4.29 billion, a price-to-earnings ratio of 15.19, a P/E/G ratio of 2.75 and a beta of 0.74.

Black Hills (NYSE:BKH - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $1.87 EPS for the quarter, missing analysts' consensus estimates of $1.92 by ($0.05). The business had revenue of $805.20 million during 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%. The company's revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.87 EPS. As a group, equities research analysts anticipate that Black Hills Co. will post 4.12 earnings per share for the current year.

Black Hills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Friday, May 16th will be paid a $0.676 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.70 annualized dividend and a dividend yield of 4.54%. Black Hills's payout ratio is 68.88%.

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.