Black Hills Co. (NYSE:BKH) Stock Holdings Lessened by Corebridge Financial Inc.

Corebridge Financial Inc. cut its stake in shares of Black Hills Co. (NYSE:BKH) by 2.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 115,326 shares of the utilities provider’s stock after selling 3,316 shares during the period. Corebridge Financial Inc.’s holdings in Black Hills were worth $6,749,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. boosted its stake 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 buying an additional 15,821 shares during the period. HighTower Advisors LLC boosted its position 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 grew its stake in Black Hills by 2.1% in the third quarter. Geode Capital Management LLC now owns 1,663,157 shares of the utilities provider’s stock valued at $101,671,000 after purchasing an additional 33,853 shares in the last quarter. Verition Fund Management LLC increased its position in Black Hills by 264.8% in the 3rd quarter. Verition Fund Management LLC now owns 28,139 shares of the utilities provider’s stock worth $1,720,000 after purchasing an additional 20,425 shares during the last quarter. Finally, Citigroup Inc. raised its stake in shares of Black Hills by 87.1% during the 3rd quarter. Citigroup Inc. now owns 90,093 shares of the utilities provider’s stock worth $5,506,000 after purchasing an additional 41,944 shares in the last quarter. Institutional investors and hedge funds own 86.71% of the company’s stock.

Black Hills Stock Up 0.7 %

BKH stock opened at $60.02 on Friday. The firm 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. Black Hills Co. has a 1 year low of $50.73 and a 1 year high of $65.59. The company has a fifty day simple moving average of $59.66 and a 200 day simple moving average of $60.08. 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 announced its quarterly earnings results on Wednesday, February 5th. The utilities provider reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.17. Black Hills had a return on equity of 7.82% and a net margin of 12.84%. Sell-side analysts anticipate that Black Hills Co. will post 4.12 EPS for the current fiscal year.

Black Hills Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.676 per share. This represents a $2.70 annualized dividend and a yield of 4.51%. The ex-dividend date of this dividend was Tuesday, February 18th. This is an increase from Black Hills’s previous quarterly dividend of $0.65. Black Hills’s dividend payout ratio (DPR) is 68.88%.

Analyst Upgrades and Downgrades

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

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.