Alta Capital Management LLC Has $3.38 Million Stake in Black Hills Corporation (NYSE:BKH)

Alta Capital Management LLC boosted its holdings in shares of Black Hills Corporation (NYSE:BKH - Free Report) by 9.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,715 shares of the utilities provider's stock after purchasing an additional 4,910 shares during the quarter. Alta Capital Management LLC owned about 0.08% of Black Hills worth $3,379,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its stake in Black Hills by 215.5% during the 1st quarter. Farther Finance Advisors LLC now owns 1,647 shares of the utilities provider's stock valued at $100,000 after purchasing an additional 1,125 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Black Hills during the 4th quarter valued at approximately $96,000. Proficio Capital Partners LLC bought a new stake in Black Hills during the 4th quarter valued at approximately $1,113,000. Atria Investments Inc boosted its stake in Black Hills by 43.1% during the 4th quarter. Atria Investments Inc now owns 8,407 shares of the utilities provider's stock valued at $492,000 after purchasing an additional 2,533 shares during the period. Finally, Exchange Traded Concepts LLC bought a new stake in Black Hills during the 1st quarter valued at approximately $808,000. Institutional investors own 86.71% of the company's stock.

Analyst Upgrades and Downgrades

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

Black Hills Price Performance

Shares of BKH traded up $1.27 during mid-day trading on Monday, reaching $57.04. The company had a trading volume of 580,931 shares, compared to its average volume of 460,129. Black Hills Corporation has a twelve month low of $53.04 and a twelve month high of $65.59. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.76 and a quick ratio of 0.62. The company's 50-day moving average is $58.71 and its 200-day moving average is $59.00. The company has a market capitalization of $4.14 billion, a P/E ratio of 14.55, a P/E/G ratio of 2.58 and a beta of 0.72.

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

Black Hills Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Friday, May 16th were issued a dividend of $0.676 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.70 dividend on an annualized basis and a yield of 4.74%. Black Hills's dividend payout ratio is 68.88%.

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.