Teacher Retirement System of Texas Sells 2,923 Shares of Black Hills Corporation (NYSE:BKH)

Teacher Retirement System of Texas trimmed its stake in Black Hills Corporation (NYSE:BKH) by 21.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,447 shares of the utilities provider’s stock after selling 2,923 shares during the period. Teacher Retirement System of Texas’ holdings in Black Hills were worth $634,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of BKH. Miller Howard Investments Inc. NY boosted its stake in shares of Black Hills by 8.8% during the 1st quarter. Miller Howard Investments Inc. NY now owns 12,845 shares of the utilities provider’s stock worth $779,000 after purchasing an additional 1,040 shares during the period. Clear Creek Financial Management LLC lifted its stake in Black Hills by 37.9% in the first quarter. Clear Creek Financial Management LLC now owns 4,730 shares of the utilities provider’s stock worth $287,000 after purchasing an additional 1,300 shares during the last quarter. KBC Group NV boosted its position in shares of Black Hills by 400.0% during the first quarter. KBC Group NV now owns 13,534 shares of the utilities provider’s stock valued at $821,000 after buying an additional 10,827 shares during the period. Bessemer Group Inc. grew its stake in shares of Black Hills by 38,974.6% during the first quarter. Bessemer Group Inc. now owns 218,818 shares of the utilities provider’s stock valued at $13,272,000 after buying an additional 218,258 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of Black Hills by 1.1% during the first quarter. International Assets Investment Management LLC now owns 30,354 shares of the utilities provider’s stock valued at $1,841,000 after buying an additional 334 shares during the last quarter. 86.71% of the stock is owned by institutional investors.

Black Hills Trading Down 1.0%

BKH stock opened at $56.56 on Wednesday. Black Hills Corporation has a 12 month low of $54.92 and a 12 month high of $65.59. The firm’s 50-day moving average is $57.41 and its 200 day moving average is $58.67. The company has a market capitalization of $4.10 billion, a PE ratio of 14.43, a P/E/G ratio of 2.65 and a beta of 0.70. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.76 and a quick ratio of 0.62.

Black Hills (NYSE:BKH) last issued its earnings results on Wednesday, May 7th. The utilities provider reported $1.87 EPS for the quarter, missing analysts’ consensus estimates of $1.92 by ($0.05). The company had revenue of $805.20 million for the quarter, compared to analysts’ expectations of $729.73 million. Black Hills had a return on equity of 7.83% and a net margin of 12.67%. The business’s revenue was up 10.8% compared to the same quarter last year. During the same period last year, the business posted $1.87 earnings per share. On average, research analysts anticipate that Black Hills Corporation will post 4.12 EPS for the current year.

Black Hills Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Friday, May 16th were paid a dividend of $0.676 per share. The ex-dividend date was Friday, May 16th. This represents a $2.70 annualized dividend and a dividend yield of 4.78%. Black Hills’s dividend payout ratio is currently 68.88%.

Analyst Ratings Changes

Separately, BMO Capital Markets started coverage on Black Hills in a report on Tuesday, May 13th. They set an “outperform” rating and a $68.00 price objective for the company.

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.