Gamco Investors INC. ET AL cut its holdings in shares of Black Hills Corp (NYSE:BKH) by 0.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 338,591 shares of the utilities provider’s stock after selling 3,200 shares during the period. Gamco Investors INC. ET AL owned approximately 0.63% of Black Hills worth $18,385,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of BKH. OppenheimerFunds Inc. raised its stake in shares of Black Hills by 18,350.6% in the 4th quarter. OppenheimerFunds Inc. now owns 1,360,544 shares of the utilities provider’s stock valued at $81,783,000 after purchasing an additional 1,353,170 shares during the period. Victory Capital Management Inc. raised its stake in shares of Black Hills by 81.3% in the 1st quarter. Victory Capital Management Inc. now owns 1,275,945 shares of the utilities provider’s stock valued at $69,284,000 after purchasing an additional 572,191 shares during the period. Alliancebernstein L.P. raised its stake in shares of Black Hills by 45.4% in the 4th quarter. Alliancebernstein L.P. now owns 1,134,582 shares of the utilities provider’s stock valued at $68,200,000 after purchasing an additional 354,262 shares during the period. Paloma Partners Management Co acquired a new stake in shares of Black Hills in the 4th quarter valued at about $20,045,000. Finally, River Road Asset Management LLC acquired a new stake in shares of Black Hills in the 1st quarter valued at about $17,362,000. Hedge funds and other institutional investors own 97.73% of the company’s stock.
BKH opened at $57.79 on Friday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.52 and a current ratio of 0.62. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of 16.31, a PEG ratio of 3.82 and a beta of 0.51. Black Hills Corp has a 1 year low of $50.49 and a 1 year high of $72.02.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Friday, May 18th will be given a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Thursday, May 17th. Black Hills’s dividend payout ratio is currently 56.55%.
Several analysts have issued reports on BKH shares. JPMorgan Chase & Co. downgraded Black Hills from an “overweight” rating to a “neutral” rating and set a $56.00 price target on the stock. in a research note on Wednesday, February 7th. Zacks Investment Research raised Black Hills from a “sell” rating to a “hold” rating in a research note on Tuesday, March 27th. Credit Suisse Group lifted their price target on Black Hills from $59.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, May 21st. Finally, ValuEngine downgraded Black Hills from a “hold” rating to a “sell” rating in a research note on Monday, May 14th. 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 company. The company presently has an average rating of “Hold” and a consensus target price of $59.67.
About Black Hills
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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