Harbor Capital Advisors Inc. Has $391,000 Stock Holdings in Black Hills Corporation $BKH

Harbor Capital Advisors Inc. lowered its holdings in Black Hills Corporation (NYSE:BKH) by 70.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,348 shares of the utilities provider’s stock after selling 15,464 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Black Hills were worth $391,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in BKH. Brighton Jones LLC bought a new position in Black Hills during the third quarter worth $356,000. Benson Investment Management Company Inc. boosted its holdings in Black Hills by 0.7% in the 3rd quarter. Benson Investment Management Company Inc. now owns 78,665 shares of the utilities provider’s stock valued at $4,845,000 after purchasing an additional 530 shares during the period. Hilltop National Bank grew its position in Black Hills by 83.2% in the 3rd quarter. Hilltop National Bank now owns 1,649 shares of the utilities provider’s stock worth $102,000 after purchasing an additional 749 shares during the last quarter. Martin Capital Partners LLC grew its position in Black Hills by 17.4% in the 3rd quarter. Martin Capital Partners LLC now owns 124,490 shares of the utilities provider’s stock worth $7,667,000 after purchasing an additional 18,454 shares during the last quarter. Finally, Corient Private Wealth LLC bought a new position in shares of Black Hills during the 2nd quarter worth about $250,000. 86.71% of the stock is owned by institutional investors.

Insider Transactions at Black Hills

In other Black Hills news, CFO Kimberly F. Nooney sold 14,500 shares of the stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $70.70, for a total transaction of $1,025,150.00. Following the sale, the chief financial officer owned 34,621 shares of the company’s stock, valued at $2,447,704.70. This represents a 29.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.63% of the stock is currently owned by company insiders.

Black Hills Stock Up 0.7%

Shares of BKH opened at $69.77 on Tuesday. The company has a market capitalization of $5.08 billion, a P/E ratio of 17.62, a PEG ratio of 3.21 and a beta of 0.74. Black Hills Corporation has a one year low of $54.92 and a one year high of $74.02. The business’s 50 day simple moving average is $69.18 and its 200-day simple moving average is $62.49. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.91 and a quick ratio of 0.67.

Black Hills (NYSE:BKH) last released its quarterly earnings results on Thursday, November 6th. The utilities provider reported $0.45 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.45. The firm had revenue of $430.20 million during the quarter, compared to analysts’ expectations of $439.96 million. Black Hills had a return on equity of 7.86% and a net margin of 12.54%.The business’s revenue was up 7.1% on a year-over-year basis. During the same period last year, the firm posted $0.35 EPS. As a group, sell-side analysts predict that Black Hills Corporation will post 4.12 EPS for the current fiscal year.

Black Hills Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 17th were issued a $0.676 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Monday, November 17th. Black Hills’s payout ratio is currently 68.18%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BKH. Weiss Ratings restated a “buy (b-)” rating on shares of Black Hills in a research note on Monday, December 22nd. Scotiabank raised shares of Black Hills from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $66.00 to $81.00 in a research note on Friday, November 7th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $71.00.

Black Hills Profile

Black Hills Corporation is a diversified energy company based in Rapid City, South Dakota, that provides electricity and natural gas distribution services to residential, commercial and industrial customers. Through its regulated utility subsidiaries—Black Hills Power, Cheyenne Light & Power, and Black Hills Energy—the company delivers reliable energy across Colorado, Kansas, Montana, Nebraska, South Dakota and Wyoming.

In addition to its distribution operations, Black Hills owns and operates a generation portfolio that includes natural gas–fired plants, coal-fired units, hydroelectric facilities and wind projects.