Black Hills Co. (NYSE:BKH) Stock Holdings Increased by Millennium Management LLC

Millennium Management LLC increased its stake in shares of Black Hills Co. (NYSE:BKH) by 113.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 463,459 shares of the utilities provider’s stock after purchasing an additional 246,500 shares during the quarter. Millennium Management LLC’s holdings in Black Hills were worth $27,122,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC boosted 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 valued at $25,000 after buying an additional 173 shares during the period. Larson Financial Group LLC boosted its position in Black Hills by 182.8% during the fourth quarter. Larson Financial Group LLC now owns 461 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 298 shares during the last quarter. Global Retirement Partners LLC boosted its position in Black Hills by 373.2% during the fourth quarter. Global Retirement Partners LLC now owns 530 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 418 shares during the last quarter. UMB Bank n.a. grew its stake in Black Hills by 83.3% in the fourth quarter. UMB Bank n.a. now owns 625 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 284 shares in the last quarter. Finally, Quarry LP increased its position in Black Hills by 1,159.7% in the 4th quarter. Quarry LP now owns 781 shares of the utilities provider’s stock worth $46,000 after purchasing an additional 719 shares during the last quarter. 86.71% of the stock is owned by hedge funds and other institutional investors.

Black Hills Price Performance

NYSE BKH opened at $58.86 on Tuesday. The firm has a market cap of $4.27 billion, a P/E ratio of 15.02, a price-to-earnings-growth ratio of 2.75 and a beta of 0.74. The stock’s 50-day moving average is $59.67 and its two-hundred day moving average is $59.86. Black Hills Co. has a fifty-two week low of $51.66 and a fifty-two week high of $65.59. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.97 and a quick ratio of 0.77.

Black Hills (NYSE:BKH) last posted its earnings results on Wednesday, May 7th. The utilities provider reported $1.87 earnings per share for the quarter, missing the consensus estimate of $1.92 by ($0.05). The company had revenue of $805.20 million during the quarter, compared to analyst estimates of $729.73 million. Black Hills had a return on equity of 7.82% and a net margin of 12.84%. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.87 earnings per share. On average, analysts anticipate that Black Hills Co. will post 4.12 earnings per share for the current fiscal year.

Black Hills Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Friday, May 16th will be paid a $0.676 dividend. The ex-dividend date is Friday, May 16th. This represents a $2.70 dividend on an annualized basis and a yield of 4.59%. Black Hills’s payout ratio is presently 68.88%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on BKH shares. BMO Capital Markets assumed coverage on Black Hills in a report on Tuesday, May 13th. They set an “outperform” rating and a $68.00 price target for the company. Scotiabank reduced their target price 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 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.