Mutual of America Capital Management LLC Lowers Stock Holdings in Black Hills Co. (NYSE:BKH)

Mutual of America Capital Management LLC cut its holdings in shares of Black Hills Co. (NYSE:BKH) by 1.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 134,178 shares of the utilities provider’s stock after selling 1,870 shares during the period. Mutual of America Capital Management LLC owned about 0.19% of Black Hills worth $7,297,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of BKH. Dimensional Fund Advisors LP increased its position in shares of Black Hills by 8.8% during the second quarter. Dimensional Fund Advisors LP now owns 978,497 shares of the utilities provider’s stock worth $53,210,000 after acquiring an additional 78,958 shares during the period. Inspire Advisors LLC purchased a new stake in Black Hills during the 2nd quarter worth about $1,693,000. Meeder Advisory Services Inc. raised its position in Black Hills by 46.8% in the 2nd quarter. Meeder Advisory Services Inc. now owns 12,012 shares of the utilities provider’s stock valued at $653,000 after purchasing an additional 3,827 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Black Hills in the 2nd quarter valued at about $239,000. Finally, American Century Companies Inc. increased its stake in shares of Black Hills by 89.3% during the second quarter. American Century Companies Inc. now owns 20,962 shares of the utilities provider’s stock worth $1,140,000 after buying an additional 9,886 shares during the period. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BKH. Scotiabank lifted 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 note on Tuesday, August 20th. Mizuho lifted their price objective on shares of Black Hills from $53.00 to $57.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 4th. Finally, Wells Fargo & Company increased their target price on Black Hills from $61.00 to $64.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat, Black Hills presently has a consensus rating of “Hold” and a consensus price target of $58.00.

Black Hills Trading Down 0.1 %

Shares of Black Hills stock opened at $60.84 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.94 and a debt-to-equity ratio of 1.23. The company has a fifty day simple moving average of $58.49 and a 200-day simple moving average of $55.63. The stock has a market cap of $4.19 billion, a price-to-earnings ratio of 14.99 and a beta of 0.68. Black Hills Co. has a 12-month low of $46.43 and a 12-month high of $61.89.

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

Black Hills Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Monday, August 19th were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 4.27%. The ex-dividend date was Monday, August 19th. Black Hills’s payout ratio is currently 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.