Quantbot Technologies LP Purchases New Shares in Black Hills Corporation $BKH

Key Points

• Quantbot Technologies LP recently acquired 63,797 shares of Black Hills Corporation valued at approximately $3,869,000, representing 0.09% ownership of the company.
• Analysts from BMO Capital Markets have issued an "outperform" rating for Black Hills, with a price target of $68.00 and a consensus rating of "Moderate Buy."
• Black Hills Corporation reported a year-over-year revenue increase of 8.9% for the last quarter, meeting earnings expectations with an EPS of $0.38.

Quantbot Technologies LP bought a new stake in shares of Black Hills Corporation (NYSE:BKH - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 63,797 shares of the utilities provider's stock, valued at approximately $3,869,000. Quantbot Technologies LP owned approximately 0.09% of Black Hills as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Wellington Management Group LLP purchased a new position in Black Hills during the first quarter valued at $7,955,000. Versor Investments LP purchased a new position in Black Hills during the first quarter valued at $449,000. Raymond James Financial Inc. lifted its position in Black Hills by 2.0% during the first quarter. Raymond James Financial Inc. now owns 146,590 shares of the utilities provider's stock valued at $8,891,000 after purchasing an additional 2,817 shares in the last quarter. Brandywine Global Investment Management LLC lifted its position in Black Hills by 5.5% during the first quarter. Brandywine Global Investment Management LLC now owns 257,940 shares of the utilities provider's stock valued at $15,644,000 after purchasing an additional 13,544 shares in the last quarter. Finally, Fox Run Management L.L.C. lifted its position in Black Hills by 10.0% during the first quarter. Fox Run Management L.L.C. now owns 13,431 shares of the utilities provider's stock valued at $815,000 after purchasing an additional 1,226 shares in the last quarter. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

Black Hills Price Performance

Shares of NYSE:BKH traded down $0.4450 during mid-day trading on Monday, reaching $60.5950. The stock had a trading volume of 113,408 shares, compared to its average volume of 543,362. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 1.06. The company has a market cap of $4.41 billion, a P/E ratio of 15.25, a price-to-earnings-growth ratio of 2.83 and a beta of 0.71. Black Hills Corporation has a 1 year low of $54.92 and a 1 year high of $65.59. The business's 50 day moving average price is $57.82 and its 200 day moving average price is $58.83.

Black Hills (NYSE:BKH - Get Free Report) last posted its earnings results on Wednesday, July 30th. The utilities provider reported $0.38 EPS for the quarter, hitting analysts' consensus estimates of $0.38. The company had revenue of $439.00 million for the quarter, compared to the consensus estimate of $412.69 million. Black Hills had a return on equity of 7.81% and a net margin of 12.68%.The firm's revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.33 earnings per share. Black Hills has set its FY 2025 guidance at 4.000-4.200 EPS. Research analysts expect that Black Hills Corporation will post 4.12 EPS for the current fiscal year.

Black Hills Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be given a $0.676 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Monday, August 18th. Black Hills's payout ratio is currently 68.01%.

Wall Street Analysts Forecast Growth

BKH has been the topic of several research analyst reports. Bank of America upgraded Black Hills from an "underperform" rating to a "neutral" rating and boosted their price objective for the company from $57.00 to $64.00 in a research report on Wednesday, August 20th. BMO Capital Markets began coverage on Black Hills in a research report on Tuesday, May 13th. They issued an "outperform" rating and a $68.00 price objective on the stock. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Black Hills has a consensus rating of "Hold" and a consensus target price of $66.00.

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.