Black Hills Co. (NYSE:BKH) Stock Position Lowered by Corebridge Financial Inc.

Corebridge Financial Inc. lowered its position in shares of Black Hills Co. (NYSE:BKH) by 2.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 115,326 shares of the utilities provider’s stock after selling 3,316 shares during the quarter. Corebridge Financial Inc. owned 0.16% of Black Hills worth $6,749,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. boosted its position in shares of Black Hills by 4,751.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 16,154 shares of the utilities provider’s stock valued at $945,000 after purchasing an additional 15,821 shares in the last quarter. HighTower Advisors LLC lifted its stake in Black Hills by 19.3% during the third quarter. HighTower Advisors LLC now owns 102,335 shares of the utilities provider’s stock valued at $6,257,000 after purchasing an additional 16,522 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Black Hills by 2.1% during the third quarter. Geode Capital Management LLC now owns 1,663,157 shares of the utilities provider’s stock worth $101,671,000 after buying an additional 33,853 shares in the last quarter. Verition Fund Management LLC boosted its holdings in Black Hills by 264.8% during the third quarter. Verition Fund Management LLC now owns 28,139 shares of the utilities provider’s stock worth $1,720,000 after buying an additional 20,425 shares in the last quarter. Finally, Citigroup Inc. grew its position in Black Hills by 87.1% in the third quarter. Citigroup Inc. now owns 90,093 shares of the utilities provider’s stock worth $5,506,000 after buying an additional 41,944 shares during the last quarter. 86.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Scotiabank cut their price objective on Black Hills from $67.00 to $66.00 and set a “sector perform” rating for the company in a research report on Friday, February 7th.

Black Hills Price Performance

NYSE BKH opened at $60.02 on Friday. Black Hills Co. has a 1 year low of $50.73 and a 1 year high of $65.59. The stock’s 50-day moving average price is $59.66 and its two-hundred day moving average price is $60.08. The company has a market cap of $4.33 billion, a PE ratio of 15.31, a PEG ratio of 2.75 and a beta of 0.68. The company has a current ratio of 0.97, a quick ratio of 0.77 and a debt-to-equity ratio of 1.19.

Black Hills (NYSE:BKH) last issued its quarterly earnings results on Wednesday, February 5th. The utilities provider reported $1.37 EPS for the quarter, beating the consensus estimate of $1.20 by $0.17. Black Hills had a net margin of 12.84% and a return on equity of 7.82%. On average, analysts predict that Black Hills Co. will post 4.12 EPS for the current year.

Black Hills Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, February 18th were given a $0.676 dividend. This represents a $2.70 annualized dividend and a dividend yield of 4.51%. The ex-dividend date was Tuesday, February 18th. This is a boost from Black Hills’s previous quarterly dividend of $0.65. Black Hills’s dividend payout ratio (DPR) is 68.88%.

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.