Huber Capital Management LLC Cuts Stock Position in Black Hills Co. (NYSE:BKH)

Huber Capital Management LLC decreased its position in shares of Black Hills Co. (NYSE:BKH - Free Report) by 33.1% in the fourth quarter, according to the company in its most recent Form 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 period. Huber Capital Management LLC's holdings in Black Hills were worth $743,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. FMR LLC grew its stake in shares of Black Hills by 8.3% in the 3rd quarter. FMR LLC now owns 117,828 shares of the utilities provider's stock worth $7,202,000 after buying an additional 9,002 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Black Hills by 23.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,771 shares of the utilities provider's stock worth $781,000 after acquiring an additional 2,395 shares in the last quarter. Walleye Capital LLC purchased a new position in Black Hills in the third quarter worth about $2,068,000. Captrust Financial Advisors increased its stake in Black Hills by 5.8% during the third quarter. Captrust Financial Advisors now owns 5,904 shares of the utilities provider's stock worth $361,000 after acquiring an additional 325 shares during the last quarter. Finally, Verition Fund Management LLC raised its position 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 valued at $1,720,000 after purchasing an additional 20,425 shares during the period. 86.71% of the stock is owned by institutional investors.

Black Hills Trading Up 1.7 %

Shares of NYSE:BKH traded up $0.98 during trading hours on Tuesday, hitting $57.67. 139,637 shares of the company's stock traded hands, compared to its average volume of 489,440. The firm has a market capitalization of $4.16 billion, a P/E ratio of 14.69, a price-to-earnings-growth ratio of 2.75 and a beta of 0.64. The business has a fifty day moving average price of $59.80 and a 200-day moving average price of $60.04. Black Hills Co. has a 1 year low of $50.72 and a 1 year high of $65.59. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.97 and a quick ratio of 0.77.

Black Hills (NYSE:BKH - Get Free Report) last announced its quarterly earnings data 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 return on equity of 7.82% and a net margin of 12.84%. Equities analysts expect that Black Hills Co. will post 4.12 earnings per share for the current year.

Black Hills Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.676 per share. 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. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.69%. Black Hills's dividend payout ratio (DPR) is currently 68.88%.

Wall Street Analyst Weigh In

Separately, Scotiabank dropped their target price on 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 Company 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.