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Mackenzie Financial Corp trimmed its position in shares of Black Hills Corporation (NYSE:BKH – Free Report) by 74.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,259 shares of the utilities provider’s stock after selling 67,160 shares during the quarter. Mackenzie Financial Corp’s holdings in Black Hills were worth $1,411,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in shares of Black Hills by 1.9% during the 1st quarter. Principal Financial Group Inc. now owns 215,402 shares of the utilities provider’s stock valued at $13,064,000 after buying an additional 4,077 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Black Hills by 15.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,918 shares of the utilities provider’s stock valued at $480,000 after acquiring an additional 1,087 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Black Hills by 215.5% in the 1st quarter. Farther Finance Advisors LLC now owns 1,647 shares of the utilities provider’s stock valued at $100,000 after acquiring an additional 1,125 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Black Hills by 59.2% in the 1st quarter. GAMMA Investing LLC now owns 605 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 225 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Black Hills in the 4th quarter valued at approximately $96,000. 86.71% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Separately, BMO Capital Markets assumed coverage on Black Hills in a research note on Tuesday, May 13th. They issued an “outperform” rating and a $68.00 price objective on the stock.
Get Our Latest Stock Report on BKH
Black Hills Stock Up 1.8%
Shares of BKH stock opened at $58.89 on Tuesday. The stock’s 50 day simple moving average is $57.02 and its 200 day simple moving average is $58.66. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.49 and a current ratio of 0.64. Black Hills Corporation has a twelve month low of $54.92 and a twelve month high of $65.59. The company has a market capitalization of $4.29 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 2.68 and a beta of 0.71.
Black Hills (NYSE:BKH – Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.38 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.38. The business had revenue of $439.00 million for the quarter, compared to the consensus estimate of $412.69 million. Black Hills had a return on equity of 7.81% and a net margin of 12.68%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same period last year, the business earned $0.33 EPS. As a group, research analysts predict that Black Hills Corporation will post 4.12 EPS for the current year.
Black Hills Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be issued a dividend of $0.676 per share. The ex-dividend date is Monday, August 18th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.6%. Black Hills’s payout ratio is 68.01%.
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.
See Also
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