LPL Financial LLC Has $2.41 Million Position in Black Hills Corporation $BKH

LPL Financial LLC grew its position in Black Hills Corporation (NYSE:BKH) by 22.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,802 shares of the utilities provider’s stock after acquiring an additional 7,211 shares during the period. LPL Financial LLC owned about 0.06% of Black Hills worth $2,414,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. First Trust Advisors LP grew its holdings in Black Hills by 309.5% during the fourth quarter. First Trust Advisors LP now owns 953,431 shares of the utilities provider’s stock worth $55,795,000 after purchasing an additional 720,628 shares during the period. Bank of America Corp DE lifted its position in shares of Black Hills by 203.6% in the fourth quarter. Bank of America Corp DE now owns 507,986 shares of the utilities provider’s stock valued at $29,727,000 after buying an additional 340,686 shares during the last quarter. Capital Research Global Investors boosted its stake 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 worth $107,975,000 after acquiring an additional 326,959 shares during the period. Millennium Management LLC increased its holdings 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 worth $27,122,000 after acquiring an additional 246,500 shares during the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of Black Hills by 38,974.6% during the 1st 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 during the last quarter. 86.71% of the stock is currently owned by institutional investors and hedge funds.

Black Hills Price Performance

Black Hills stock opened at $60.36 on Tuesday. The stock’s fifty day moving average price is $57.58 and its two-hundred day moving average price is $58.81. The firm has a market cap of $4.40 billion, a PE ratio of 15.21, a price-to-earnings-growth ratio of 2.85 and a beta of 0.71. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.64 and a quick ratio of 0.49. Black Hills Corporation has a one year low of $54.92 and a one year high of $65.59.

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

Black Hills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be issued a dividend of $0.676 per share. The ex-dividend date is Monday, August 18th. This represents a $2.70 annualized dividend and a dividend yield of 4.5%. Black Hills’s dividend payout ratio is currently 68.01%.

Wall Street Analyst Weigh In

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

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.