7,558 Shares in Black Hills Corporation (NYSE:BKH) Purchased by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. acquired a new position in shares of Black Hills Corporation (NYSE:BKH - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,558 shares of the utilities provider's stock, valued at approximately $458,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Jefferies Financial Group Inc. acquired a new stake in Black Hills during the first quarter worth about $229,000. Natixis Advisors LLC increased its stake in shares of Black Hills by 3.9% in the first quarter. Natixis Advisors LLC now owns 20,926 shares of the utilities provider's stock valued at $1,269,000 after purchasing an additional 784 shares during the period. Arkadios Wealth Advisors acquired a new stake in shares of Black Hills in the first quarter valued at approximately $415,000. XTX Topco Ltd acquired a new stake in shares of Black Hills in the first quarter valued at approximately $979,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Black Hills in the first quarter valued at approximately $4,104,000. Institutional investors and hedge funds own 86.71% of the company's stock.

Analyst Ratings Changes

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

Black Hills Trading Up 1.8%

Black Hills stock opened at $58.89 on Tuesday. The firm has a 50 day simple moving average of $57.02 and a 200-day simple moving average of $58.66. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.64 and a quick ratio of 0.49. The stock has a market capitalization of $4.29 billion, a PE ratio of 14.83, a price-to-earnings-growth ratio of 2.68 and a beta of 0.71. Black Hills Corporation has a 12-month low of $54.92 and a 12-month high of $65.59.

Black Hills (NYSE:BKH - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.38. The business had revenue of $439.00 million during the quarter, compared to analysts' expectations of $412.69 million. Black Hills had a net margin of 12.68% and a return on equity of 7.81%. The business's revenue was up 8.9% on a year-over-year basis. During the same period last year, the firm posted $0.33 earnings per share. As a group, equities research analysts expect that Black Hills Corporation will post 4.12 EPS for the current fiscal year.

Black Hills Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be issued a dividend of $0.676 per share. This represents a $2.70 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Monday, August 18th. Black Hills's dividend payout ratio (DPR) is presently 68.01%.

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.

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