Huber Capital Management LLC Lowers Stake in Black Hills Co. (NYSE:BKH)

Huber Capital Management LLC cut its stake in Black Hills Co. (NYSE:BKH) by 33.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,698 shares of the utilities provider’s stock after selling 6,278 shares during the period. Huber Capital Management LLC’s holdings in Black Hills were worth $743,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BKH. ExodusPoint Capital Management LP bought a new position in shares of Black Hills during the 4th quarter valued at about $3,946,000. Geode Capital Management LLC grew its position in Black Hills by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 1,698,234 shares of the utilities provider’s stock valued at $99,402,000 after acquiring an additional 35,077 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Black Hills by 1.7% during the fourth quarter. Franklin Resources Inc. now owns 897,245 shares of the utilities provider’s stock worth $52,507,000 after acquiring an additional 14,599 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in shares of Black Hills by 17.5% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 11,615 shares of the utilities provider’s stock worth $680,000 after acquiring an additional 1,732 shares during the last quarter. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of Black Hills in the 4th quarter valued at $71,000. Institutional investors own 86.71% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Scotiabank lowered their price target on shares of Black Hills from $67.00 to $66.00 and set a “sector perform” rating for the company in a research note on Friday, February 7th.

Black Hills Stock Up 0.6 %

Shares of NYSE BKH opened at $61.23 on Thursday. The company has a market cap of $4.41 billion, a price-to-earnings ratio of 15.62, a PEG ratio of 2.75 and a beta of 0.68. The company has a quick ratio of 0.77, a current ratio of 0.97 and a debt-to-equity ratio of 1.19. The firm’s fifty day moving average is $59.78 and its 200 day moving average is $60.10. Black Hills Co. has a 52 week low of $50.73 and a 52 week high of $65.59.

Black Hills (NYSE:BKH) last posted its earnings results on Wednesday, February 5th. The utilities provider reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.17. Black Hills had a net margin of 12.84% and a return on equity of 7.82%. On average, equities research analysts expect that Black Hills Co. will post 4.12 earnings per share for the current year.

Black Hills Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.676 per share. This is a positive change from Black Hills’s previous quarterly dividend of $0.65. The ex-dividend date was Tuesday, February 18th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.42%. Black Hills’s payout ratio is presently 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.