Huber Capital Management LLC Sells 6,278 Shares of Black Hills Co. (NYSE:BKH)

Huber Capital Management LLC reduced its stake in Black Hills Co. (NYSE:BKH) by 33.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,698 shares of the utilities provider’s stock after selling 6,278 shares during the quarter. Huber Capital Management LLC’s holdings in Black Hills were worth $743,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in BKH. ExodusPoint Capital Management LP purchased a new stake in shares of Black Hills in the fourth quarter worth $3,946,000. Geode Capital Management LLC raised its position in shares of Black Hills by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 1,698,234 shares of the utilities provider’s stock worth $99,402,000 after purchasing an additional 35,077 shares during the last quarter. Franklin Resources Inc. boosted its stake in Black Hills by 1.7% in the 4th quarter. Franklin Resources Inc. now owns 897,245 shares of the utilities provider’s stock worth $52,507,000 after purchasing an additional 14,599 shares in the last quarter. O Shaughnessy Asset Management LLC grew its position in Black Hills by 17.5% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 11,615 shares of the utilities provider’s stock valued at $680,000 after purchasing an additional 1,732 shares during the last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in Black Hills during the 4th quarter valued at about $71,000. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Analysts Set New Price Targets

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

Black Hills Price Performance

BKH opened at $61.23 on Thursday. The company’s 50-day simple moving average is $59.78 and its two-hundred day simple moving average is $60.10. Black Hills Co. has a 52-week low of $50.73 and a 52-week high of $65.59. The stock has a market capitalization of $4.41 billion, a P/E ratio of 15.62, a P/E/G ratio of 2.75 and a beta of 0.68. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.77 and a current ratio of 0.97.

Black Hills (NYSE:BKH) last issued its earnings results on Wednesday, February 5th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts predict that Black Hills Co. will post 4.12 EPS for the current year.

Black Hills Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, February 18th were given a $0.676 dividend. This represents a $2.70 annualized dividend and a yield of 4.42%. This is a boost from Black Hills’s previous quarterly dividend of $0.65. The ex-dividend date was Tuesday, February 18th. Black Hills’s dividend payout ratio (DPR) is presently 68.88%.

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.