Black Hills Co. (NYSE:BKH) Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp increased its position in shares of Black Hills Co. (NYSE:BKH) by 1,285.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,385 shares of the utilities provider’s stock after acquiring an additional 56,954 shares during the period. Mackenzie Financial Corp owned about 0.09% of Black Hills worth $3,312,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. grew its stake in shares of Black Hills by 87.3% in the third quarter. Geneos Wealth Management Inc. now owns 562 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 262 shares in the last quarter. Lindbrook Capital LLC raised its holdings in Black Hills by 678.4% in the third quarter. Lindbrook Capital LLC now owns 685 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 597 shares in the last quarter. Allworth Financial LP lifted its stake in Black Hills by 101.2% in the fourth quarter. Allworth Financial LP now owns 807 shares of the utilities provider’s stock worth $44,000 after acquiring an additional 406 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Black Hills by 525.3% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,532 shares of the utilities provider’s stock worth $78,000 after acquiring an additional 1,287 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC increased its position in shares of Black Hills by 210.2% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 1,697 shares of the utilities provider’s stock valued at $86,000 after purchasing an additional 1,150 shares during the last quarter. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

Black Hills Stock Performance

NYSE BKH opened at $54.32 on Tuesday. The company has a fifty day moving average of $52.73 and a two-hundred day moving average of $52.14. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.70 and a quick ratio of 0.56. Black Hills Co. has a 1 year low of $46.43 and a 1 year high of $66.85. The company has a market capitalization of $3.71 billion, a PE ratio of 13.86 and a beta of 0.64.

Black Hills (NYSE:BKH) last announced its earnings results on Thursday, February 8th. The utilities provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.11. The firm had revenue of $591.70 million during the quarter, compared to analysts’ expectations of $863.67 million. Black Hills had a return on equity of 8.09% and a net margin of 11.25%. During the same period in the prior year, the firm earned $1.11 EPS. As a group, analysts expect that Black Hills Co. will post 3.9 earnings per share for the current year.

Black Hills Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were given a $0.65 dividend. This is an increase from Black Hills’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $2.60 annualized dividend and a yield of 4.79%. Black Hills’s dividend payout ratio is 66.33%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BKH. StockNews.com cut shares of Black Hills from a “hold” rating to a “sell” rating in a research report on Thursday, March 28th. Royal Bank of Canada dropped their price objective on Black Hills from $61.00 to $57.00 and set a “sector perform” rating on the stock in a report on Friday, February 9th. Finally, Scotiabank decreased their target price on Black Hills from $58.00 to $54.00 and set a “sector perform” rating for the company in a research note on Monday. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $55.00.

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.