Pacer Advisors Inc. Has $441,000 Stock Holdings in Black Hills Corporation (NYSE:BKH)

Pacer Advisors Inc. reduced its stake in Black Hills Corporation (NYSE:BKH) by 29.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,270 shares of the utilities provider’s stock after selling 2,966 shares during the quarter. Pacer Advisors Inc.’s holdings in Black Hills were worth $441,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. First Trust Advisors LP lifted its stake in Black Hills by 309.5% in the fourth quarter. First Trust Advisors LP now owns 953,431 shares of the utilities provider’s stock valued at $55,795,000 after buying an additional 720,628 shares during the period. Bank of America Corp DE increased its stake in shares of Black Hills by 203.6% in the 4th quarter. Bank of America Corp DE now owns 507,986 shares of the utilities provider’s stock valued at $29,727,000 after acquiring an additional 340,686 shares in the last quarter. Capital Research Global Investors lifted its position in shares of Black Hills by 21.5% during the 4th quarter. Capital Research Global Investors now owns 1,845,088 shares of the utilities provider’s stock valued at $107,975,000 after acquiring an additional 326,959 shares during the period. Millennium Management LLC lifted its position in shares of Black Hills by 113.6% during the 4th quarter. Millennium Management LLC now owns 463,459 shares of the utilities provider’s stock valued at $27,122,000 after acquiring an additional 246,500 shares during the period. Finally, Bessemer Group Inc. boosted its stake in Black Hills by 38,974.6% during the first quarter. Bessemer Group Inc. now owns 218,818 shares of the utilities provider’s stock worth $13,272,000 after acquiring an additional 218,258 shares in the last quarter. 86.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, BMO Capital Markets started coverage on shares of Black Hills in a research note on Tuesday, May 13th. They issued an “outperform” rating and a $68.00 price target for the company.

Black Hills Trading Down 0.0%

Shares of Black Hills stock opened at $57.76 on Friday. The stock has a market capitalization of $4.19 billion, a PE ratio of 14.55, a price-to-earnings-growth ratio of 2.68 and a beta of 0.71. Black Hills Corporation has a 52 week low of $54.92 and a 52 week high of $65.59. The stock has a 50 day moving average price of $57.01 and a two-hundred day moving average price of $58.66. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.62 and a current ratio of 0.76.

Black Hills (NYSE:BKH) last announced its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.38 EPS for the quarter, meeting analysts’ consensus estimates of $0.38. Black Hills had a net margin of 12.68% and a return on equity of 7.87%. The business had revenue of $439.00 million during the quarter, compared to analyst estimates of $412.69 million. During the same quarter in the previous year, the business posted $0.33 EPS. Black Hills’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, equities analysts anticipate that Black Hills Corporation will post 4.12 earnings per share for the current fiscal year.

Black Hills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be given a $0.676 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $2.70 annualized dividend and a yield of 4.7%. Black Hills’s dividend payout ratio (DPR) is presently 68.01%.

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.