Black Hills Corporation (NYSE:BKH) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. boosted its holdings in shares of Black Hills Corporation (NYSE:BKH) by 0.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,634,076 shares of the utilities provider’s stock after purchasing an additional 31,853 shares during the period. Vanguard Group Inc. owned about 11.98% of Black Hills worth $523,657,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Journey Strategic Wealth LLC raised its position in shares of Black Hills by 4.1% in the first quarter. Journey Strategic Wealth LLC now owns 4,367 shares of the utilities provider’s stock worth $265,000 after acquiring an additional 172 shares during the period. Financial Counselors Inc. raised its position in shares of Black Hills by 0.3% in the first quarter. Financial Counselors Inc. now owns 54,175 shares of the utilities provider’s stock worth $3,286,000 after acquiring an additional 176 shares during the period. Xponance Inc. raised its position in shares of Black Hills by 1.9% in the first quarter. Xponance Inc. now owns 10,218 shares of the utilities provider’s stock worth $620,000 after acquiring an additional 188 shares during the period. EP Wealth Advisors LLC raised its position in shares of Black Hills by 5.9% in the fourth quarter. EP Wealth Advisors LLC now owns 3,528 shares of the utilities provider’s stock worth $206,000 after acquiring an additional 197 shares during the period. Finally, State of Michigan Retirement System raised its position in shares of Black Hills by 1.2% in the first quarter. State of Michigan Retirement System now owns 17,100 shares of the utilities provider’s stock worth $1,037,000 after acquiring an additional 200 shares during the period. 86.71% of the stock is currently owned by institutional investors and hedge funds.

Black Hills Trading Up 0.3%

Shares of Black Hills stock opened at $61.64 on Friday. The firm has a 50-day simple moving average of $57.43 and a two-hundred day simple moving average of $58.77. The company has a market cap of $4.49 billion, a P/E ratio of 15.53, a price-to-earnings-growth ratio of 2.85 and a beta of 0.71. Black Hills Corporation has a fifty-two week low of $54.92 and a fifty-two week high of $65.59. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.49 and a current ratio of 0.64.

Black Hills (NYSE:BKH) last released its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.38 earnings per share for the quarter, hitting the consensus estimate of $0.38. Black Hills had a net margin of 12.68% and a return on equity of 7.81%. The firm had revenue of $439.00 million during the quarter, compared to the consensus estimate of $412.69 million. During the same quarter in the prior year, the firm earned $0.33 EPS. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, equities analysts predict that Black Hills Corporation will post 4.12 earnings per share for the current fiscal year.

Black Hills Announces Dividend

The business 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 dividend of $0.676 per share. This represents a $2.70 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Monday, August 18th. Black Hills’s dividend payout ratio is 68.01%.

Wall Street Analysts Forecast Growth

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

Black Hills 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.