Mairs & Power INC Has $11.10 Million Stake in Black Hills Corp (BKH)
Mairs & Power INC trimmed its stake in Black Hills Corp (NYSE:BKH) by 26.6% in the 4th quarter, Holdings Channel reports. The firm owned 176,840 shares of the utilities provider’s stock after selling 63,970 shares during the period. Mairs & Power INC’s holdings in Black Hills were worth $11,102,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Black Hills by 5.3% in the 4th quarter. BlackRock Inc. now owns 7,869,750 shares of the utilities provider’s stock valued at $494,062,000 after purchasing an additional 398,122 shares in the last quarter. Vanguard Group Inc. increased its stake in Black Hills by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,162,066 shares of the utilities provider’s stock worth $299,865,000 after buying an additional 81,321 shares in the last quarter. Vanguard Group Inc increased its stake in Black Hills by 1.6% during the 3rd quarter. Vanguard Group Inc now owns 5,162,066 shares of the utilities provider’s stock worth $299,865,000 after buying an additional 81,321 shares in the last quarter. Franklin Resources Inc. increased its stake in Black Hills by 3.6% during the 3rd quarter. Franklin Resources Inc. now owns 1,741,864 shares of the utilities provider’s stock worth $101,185,000 after buying an additional 59,852 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in Black Hills by 21.7% during the 3rd quarter. Alliancebernstein L.P. now owns 1,350,389 shares of the utilities provider’s stock worth $78,444,000 after buying an additional 240,640 shares in the last quarter. 87.55% of the stock is owned by institutional investors and hedge funds.
In related news, insider David R. Emery sold 2,143 shares of the company’s stock in a transaction that occurred on Wednesday, February 13th. The stock was sold at an average price of $70.14, for a total value of $150,310.02. Following the transaction, the insider now directly owns 205,306 shares in the company, valued at $14,400,162.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.10% of the company’s stock.
Shares of Black Hills stock traded down $0.01 on Thursday, hitting $72.71. 21,656 shares of the company were exchanged, compared to its average volume of 382,530. The stock has a market cap of $4.38 billion, a P/E ratio of 20.54, a P/E/G ratio of 4.57 and a beta of 0.45. Black Hills Corp has a 1-year low of $51.31 and a 1-year high of $73.61. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.78 and a quick ratio of 0.60.
Black Hills (NYSE:BKH) last issued its earnings results on Thursday, February 7th. The utilities provider reported $1.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.13. The business had revenue of $501.20 million for the quarter, compared to analysts’ expectations of $466.97 million. Black Hills had a return on equity of 9.75% and a net margin of 14.73%. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 EPS. As a group, research analysts expect that Black Hills Corp will post 3.43 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 15th were issued a $0.505 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date was Thursday, February 14th. Black Hills’s dividend payout ratio is presently 57.06%.
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Black Hills Profile
Black Hills Corporation, through its subsidiaries, operates as a vertically-integrated utility company in the United States. The company's Electric Utilities segment generates, transmits, and distributes electricity to approximately 210,000 electric customers in South Dakota, Wyoming, Colorado, and Montana.
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