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Black Hills Corporation (NYSE:BKH) Shares Acquired by GAMMA Investing LLC

Black Hills logo with Utilities background

GAMMA Investing LLC lifted its holdings in Black Hills Corporation (NYSE:BKH - Free Report) by 9,556.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,693 shares of the utilities provider's stock after acquiring an additional 36,313 shares during the period. GAMMA Investing LLC owned approximately 0.05% of Black Hills worth $2,225,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in BKH. Smartleaf Asset Management LLC grew its position in Black Hills by 66.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 432 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 173 shares in the last quarter. EP Wealth Advisors LLC grew its holdings in Black Hills by 5.9% during the 4th quarter. EP Wealth Advisors LLC now owns 3,528 shares of the utilities provider's stock valued at $206,000 after purchasing an additional 197 shares in the last quarter. Barnett & Company Inc. grew its holdings in Black Hills by 2.7% during the 4th quarter. Barnett & Company Inc. now owns 7,500 shares of the utilities provider's stock valued at $439,000 after purchasing an additional 200 shares in the last quarter. WBI Investments LLC increased its stake in Black Hills by 2.5% during the 4th quarter. WBI Investments LLC now owns 8,344 shares of the utilities provider's stock worth $488,000 after buying an additional 203 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in Black Hills by 8.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,919 shares of the utilities provider's stock worth $171,000 after buying an additional 222 shares in the last quarter. Hedge funds and other institutional investors own 86.71% of the company's stock.

Black Hills Stock Performance

BKH stock traded down $0.16 during trading on Tuesday, hitting $56.07. 865,526 shares of the company's stock traded hands, compared to its average volume of 459,703. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of 14.30, a price-to-earnings-growth ratio of 2.60 and a beta of 0.72. Black Hills Corporation has a 52 week low of $52.40 and a 52 week high of $65.59. The stock has a fifty day moving average price of $58.91 and a two-hundred day moving average price of $59.21. The company has a quick ratio of 0.62, a current ratio of 0.76 and a debt-to-equity ratio of 1.06.

Black Hills (NYSE:BKH - Get Free Report) last posted its quarterly 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). Black Hills had a net margin of 12.67% and a return on equity of 7.83%. The business had revenue of $805.20 million during the quarter, compared to analyst estimates of $729.73 million. During the same period last year, the firm posted $1.87 earnings per share. The company's quarterly revenue was up 10.8% on a year-over-year basis. As a group, equities analysts anticipate that Black Hills Corporation will post 4.12 EPS for the current fiscal year.

Black Hills Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Friday, May 16th were paid a $0.676 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.70 annualized dividend and a dividend yield of 4.82%. Black Hills's payout ratio is currently 68.88%.

Analysts Set New Price Targets

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 target price for the company.

Read Our Latest Stock Report on Black Hills

About Black Hills

(Free Report)

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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Institutional Ownership by Quarter for Black Hills (NYSE:BKH)

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