Rhumbline Advisers Has $5.84 Million Stake in Black Hills Co. (BKH)

Rhumbline Advisers lessened its stake in Black Hills Co. (NYSE:BKH) by 5.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 107,495 shares of the utilities provider’s stock after selling 5,711 shares during the period. Rhumbline Advisers’ holdings in Black Hills were worth $5,837,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Teacher Retirement System of Texas lifted its holdings in shares of Black Hills by 42.4% in the 4th quarter. Teacher Retirement System of Texas now owns 46,949 shares of the utilities provider’s stock valued at $2,822,000 after buying an additional 13,982 shares during the period. First Trust Advisors LP lifted its holdings in shares of Black Hills by 29.2% in the 4th quarter. First Trust Advisors LP now owns 394,347 shares of the utilities provider’s stock valued at $23,704,000 after buying an additional 89,193 shares during the period. Yorktown Management & Research Co Inc acquired a new position in shares of Black Hills in the 4th quarter valued at about $307,000. Swiss National Bank raised its holdings in Black Hills by 2.5% in the 4th quarter. Swiss National Bank now owns 91,179 shares of the utilities provider’s stock worth $5,481,000 after purchasing an additional 2,200 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in Black Hills by 1.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 767,384 shares of the utilities provider’s stock worth $46,127,000 after purchasing an additional 10,389 shares during the period. 97.73% of the stock is owned by institutional investors and hedge funds.

NYSE BKH opened at $56.35 on Tuesday. The stock has a market capitalization of $3.01 billion, a P/E ratio of 16.77, a price-to-earnings-growth ratio of 3.74 and a beta of 0.51. Black Hills Co. has a twelve month low of $50.49 and a twelve month high of $72.02. The company has a quick ratio of 0.52, a current ratio of 0.62 and a debt-to-equity ratio of 1.48.

Black Hills (NYSE:BKH) last released its quarterly earnings results on Thursday, May 3rd. The utilities provider reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.10. The company had revenue of $575.40 million during the quarter, compared to analysts’ expectations of $560.38 million. Black Hills had a return on equity of 10.49% and a net margin of 13.98%. Black Hills’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.39 EPS. equities research analysts expect that Black Hills Co. will post 3.4 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Friday, May 18th will be paid a dividend of $0.475 per share. The ex-dividend date of this dividend is Thursday, May 17th. This represents a $1.90 annualized dividend and a yield of 3.37%. Black Hills’s dividend payout ratio (DPR) is currently 56.55%.

A number of equities analysts recently weighed in on the company. ValuEngine cut Black Hills from a “hold” rating to a “sell” rating in a report on Monday, May 14th. JPMorgan Chase reduced their price target on Black Hills from $67.00 to $56.00 and set an “overweight” rating for the company in a report on Thursday, January 25th. Zacks Investment Research raised Black Hills from a “sell” rating to a “hold” rating in a report on Tuesday, March 27th. Finally, Credit Suisse Group upped their price target on Black Hills from $59.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $59.67.

Black Hills Profile

Black Hills Corporation, through its subsidiaries, operates as a vertically-integrated utility company in the United States. The company's Electric Utilities segment generates, transmits, and distributes electricity to approximately 210,000 electric customers in South Dakota, Wyoming, Colorado, and Montana.

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Institutional Ownership by Quarter for Black Hills (NYSE:BKH)

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