MQS Management LLC Purchases New Shares in Black Hills Corporation (NYSE:BKH)

MQS Management LLC acquired a new position in shares of Black Hills Corporation (NYSE:BKH - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,858 shares of the utilities provider's stock, valued at approximately $355,000.

Several other large investors also recently modified their holdings of BKH. First Trust Advisors LP increased its position in shares of Black Hills by 309.5% during the fourth quarter. First Trust Advisors LP now owns 953,431 shares of the utilities provider's stock worth $55,795,000 after buying an additional 720,628 shares during the period. Bank of America Corp DE increased its position in shares of Black Hills by 203.6% during the fourth quarter. Bank of America Corp DE now owns 507,986 shares of the utilities provider's stock worth $29,727,000 after buying an additional 340,686 shares during the period. Capital Research Global Investors increased its position in shares of Black Hills by 21.5% during the fourth quarter. Capital Research Global Investors now owns 1,845,088 shares of the utilities provider's stock worth $107,975,000 after buying an additional 326,959 shares during the period. Millennium Management LLC increased its position in shares of Black Hills by 113.6% during the fourth quarter. Millennium Management LLC now owns 463,459 shares of the utilities provider's stock worth $27,122,000 after buying an additional 246,500 shares during the period. Finally, Bessemer Group Inc. increased its position in shares of Black Hills by 38,974.6% during the first quarter. Bessemer Group Inc. now owns 218,818 shares of the utilities provider's stock worth $13,272,000 after buying an additional 218,258 shares during the period. 86.71% of the stock is currently owned by institutional investors and hedge funds.

Black Hills Stock Down 0.3%

NYSE:BKH traded down $0.18 during trading hours on Friday, reaching $56.84. The company had a trading volume of 190,271 shares, compared to its average volume of 501,867. The company has a quick ratio of 0.62, a current ratio of 0.76 and a debt-to-equity ratio of 1.06. The firm has a market cap of $4.12 billion, a price-to-earnings ratio of 14.50, a P/E/G ratio of 2.64 and a beta of 0.70. The business's 50-day simple moving average is $57.27 and its two-hundred day simple moving average is $58.65. Black Hills Corporation has a twelve month low of $54.92 and a twelve month high of $65.59.

Black Hills (NYSE:BKH - Get Free Report) last posted its earnings results on Wednesday, May 7th. The utilities provider reported $1.87 EPS for the quarter, missing the consensus estimate of $1.92 by ($0.05). The business had revenue of $805.20 million for the quarter, compared to the consensus estimate of $729.73 million. Black Hills had a return on equity of 7.83% and a net margin of 12.67%. The company's revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.87 earnings per share. On average, equities analysts expect that Black Hills Corporation will post 4.12 earnings per share for the current year.

Black Hills Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Friday, May 16th were paid a dividend of $0.676 per share. The ex-dividend date was Friday, May 16th. This represents a $2.70 dividend on an annualized basis and a yield of 4.76%. Black Hills's dividend payout ratio (DPR) is currently 68.88%.

Analyst Ratings Changes

Separately, BMO Capital Markets initiated coverage on shares of Black Hills in a research report on Tuesday, May 13th. They set an "outperform" rating and a $68.00 price objective for the company.

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.