Alta Capital Management LLC Acquires 4,910 Shares of Black Hills Corporation (NYSE:BKH)

Alta Capital Management LLC grew its position in shares of Black Hills Corporation (NYSE:BKH - Free Report) by 9.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 approximately 0.08% of Black Hills worth $3,379,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. First Trust Advisors LP grew its position in Black Hills by 309.5% during the fourth quarter. First Trust Advisors LP now owns 953,431 shares of the utilities provider's stock valued at $55,795,000 after acquiring an additional 720,628 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Black Hills by 203.6% during the 4th quarter. Bank of America Corp DE now owns 507,986 shares of the utilities provider's stock valued at $29,727,000 after purchasing an additional 340,686 shares during the last quarter. Capital Research Global Investors grew its stake 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 valued at $107,975,000 after buying an additional 326,959 shares during the last quarter. Millennium Management LLC grew its stake 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 valued at $27,122,000 after buying an additional 246,500 shares during the last quarter. Finally, Great Lakes Advisors LLC bought a new position in shares of Black Hills during the fourth quarter valued at about $10,490,000. 86.71% of the stock is currently owned by institutional investors.

Black Hills Trading Down 0.4%

Black Hills stock traded down $0.22 during trading hours on Friday, reaching $55.76. The stock had a trading volume of 879,487 shares, compared to its average volume of 461,579. The stock has a market cap of $4.04 billion, a PE ratio of 14.22, a PEG ratio of 2.59 and a beta of 0.72. Black Hills Corporation has a 52 week low of $52.99 and a 52 week 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 has a fifty day simple moving average of $58.77 and a 200-day simple moving average of $59.09.

Black Hills (NYSE:BKH - Get Free Report) last posted its earnings results on Wednesday, May 7th. The utilities provider reported $1.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.92 by ($0.05). The business had revenue of $805.20 million during 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 firm's revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.87 earnings per share. Analysts forecast that Black Hills Corporation will post 4.12 EPS for the current fiscal year.

Black Hills Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Friday, May 16th were given a $0.676 dividend. The ex-dividend date was Friday, May 16th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.85%. Black Hills's dividend payout ratio is currently 68.88%.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets assumed coverage on Black Hills in a research note on Tuesday, May 13th. They set an "outperform" rating and a $68.00 price objective on the stock.

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.