Huber Capital Management LLC Sells 641 Shares of Black Hills Co. (NYSE:BKH)

Huber Capital Management LLC cut its stake in Black Hills Co. (NYSE:BKH) by 3.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,876 shares of the utilities provider’s stock after selling 641 shares during the period. Huber Capital Management LLC’s holdings in Black Hills were worth $972,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Black Hills by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 8,203,786 shares of the utilities provider’s stock worth $447,927,000 after acquiring an additional 60,219 shares in the last quarter. Capital Research Global Investors grew its stake in Black Hills by 17.1% in the fourth quarter. Capital Research Global Investors now owns 3,251,722 shares of the utilities provider’s stock worth $175,430,000 after purchasing an additional 475,768 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Black Hills by 8.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 978,497 shares of the utilities provider’s stock worth $53,210,000 after purchasing an additional 78,958 shares during the period. Bank of New York Mellon Corp raised its position in Black Hills by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 949,278 shares of the utilities provider’s stock valued at $51,622,000 after purchasing an additional 3,544 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Black Hills by 36.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 755,095 shares of the utilities provider’s stock worth $40,737,000 after buying an additional 203,340 shares during the period. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Mizuho lifted their price objective on Black Hills from $53.00 to $57.00 and gave the company a “neutral” rating in a report on Tuesday, June 4th. Scotiabank upped their price target on shares of Black Hills from $54.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Finally, Wells Fargo & Company increased their price objective on shares of Black Hills from $61.00 to $64.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $58.00.

Black Hills Stock Down 0.3 %

NYSE:BKH opened at $60.64 on Friday. The company’s 50-day simple moving average is $58.65 and its 200-day simple moving average is $55.72. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.94 and a current ratio of 1.06. Black Hills Co. has a fifty-two week low of $46.43 and a fifty-two week high of $61.89. The stock has a market capitalization of $4.18 billion, a P/E ratio of 14.94 and a beta of 0.68.

Black Hills (NYSE:BKH) last released its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.04. The business had revenue of $402.60 million for the quarter, compared to analyst estimates of $498.00 million. Black Hills had a net margin of 12.96% and a return on equity of 8.21%. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.35 earnings per share. On average, equities analysts anticipate that Black Hills Co. will post 3.92 earnings per share for the current fiscal year.

Black Hills Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Monday, August 19th were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.29%. Black Hills’s payout ratio is 64.04%.

About Black Hills

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.