Mutual of America Capital Management LLC Has $7.43 Million Holdings in Black Hills Co. (NYSE:BKH)

Mutual of America Capital Management LLC lessened its stake in shares of Black Hills Co. (NYSE:BKH) by 3.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 136,048 shares of the utilities provider’s stock after selling 5,407 shares during the period. Mutual of America Capital Management LLC owned about 0.20% of Black Hills worth $7,428,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. FORA Capital LLC raised its holdings in Black Hills by 33.5% during the 1st quarter. FORA Capital LLC now owns 9,726 shares of the utilities provider’s stock worth $531,000 after buying an additional 2,442 shares during the period. Daiwa Securities Group Inc. grew its stake in Black Hills by 34.3% during the 1st quarter. Daiwa Securities Group Inc. now owns 6,111 shares of the utilities provider’s stock valued at $334,000 after acquiring an additional 1,561 shares in the last quarter. Capstone Investment Advisors LLC grew its stake in Black Hills by 145.5% during the 1st quarter. Capstone Investment Advisors LLC now owns 19,770 shares of the utilities provider’s stock valued at $1,079,000 after acquiring an additional 11,718 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Black Hills by 108.0% during the 1st quarter. BNP Paribas Financial Markets now owns 101,774 shares of the utilities provider’s stock valued at $5,557,000 after acquiring an additional 52,837 shares in the last quarter. Finally, Mission Wealth Management LP purchased a new position in Black Hills during the 1st quarter valued at about $308,000. Institutional investors and hedge funds own 86.71% of the company’s stock.

Insiders Place Their Bets

In other Black Hills news, Director Rebecca B. Roberts sold 3,094 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $54.84, for a total transaction of $169,674.96. Following the completion of the sale, the director now owns 7,956 shares of the company’s stock, valued at $436,307.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.63% of the company’s stock.

Black Hills Stock Down 0.6 %

Shares of NYSE BKH traded down $0.30 during trading hours on Monday, hitting $53.42. The stock had a trading volume of 406,282 shares, compared to its average volume of 501,603. The company has a market capitalization of $3.68 billion, a P/E ratio of 13.16 and a beta of 0.69. The firm’s 50-day moving average price is $54.84 and its two-hundred day moving average price is $53.51. Black Hills Co. has a 52 week low of $46.43 and a 52 week high of $61.94. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.61 and a current ratio of 0.73.

Black Hills (NYSE:BKH) last announced its quarterly earnings results on Wednesday, May 8th. The utilities provider reported $1.87 EPS for the quarter, beating the consensus estimate of $1.70 by $0.17. The business had revenue of $726.40 million during the quarter, compared to analysts’ expectations of $683.00 million. Black Hills had a return on equity of 8.37% and a net margin of 12.92%. The firm’s quarterly revenue was down 21.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.73 EPS. Analysts anticipate that Black Hills Co. will post 3.92 EPS for the current fiscal year.

Black Hills Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 17th were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.60 dividend on an annualized basis and a yield of 4.87%. Black Hills’s payout ratio is currently 64.04%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BKH. Mizuho lifted their target price on Black Hills from $53.00 to $57.00 and gave the company a “neutral” rating in a research note on Tuesday, June 4th. StockNews.com raised Black Hills from a “sell” rating to a “hold” rating in a research note on Thursday, May 9th. Wells Fargo & Company lifted their target price on Black Hills from $56.00 to $61.00 and gave the company an “equal weight” rating in a research note on Friday, May 10th. Finally, Scotiabank lowered their target price on Black Hills from $58.00 to $54.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $55.60.

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.