Y Intercept Hong Kong Ltd Increases Stock Position in Black Hills Corporation (NYSE:BKH)

Key Points

• Y Intercept Hong Kong Ltd increased its stake in Black Hills Corporation by 107.4% in Q1, owning 14,846 shares worth $900,000.
• Institutional investors own 86.71% of Black Hills Corporation's stock, with significant increases in holdings from firms such as First Trust Advisors LP and Millennium Management LLC.
• Black Hills reported a quarterly earnings per share of $1.87, which was below analysts' expectations, but its revenue was up 10.8% compared to last year.

Y Intercept Hong Kong Ltd raised its stake in Black Hills Corporation (NYSE:BKH - Free Report) by 107.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,846 shares of the utilities provider's stock after buying an additional 7,688 shares during the period. Y Intercept Hong Kong Ltd's holdings in Black Hills were worth $900,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in BKH. Virtu Financial LLC bought a new position in shares of Black Hills in the 4th quarter worth $335,000. Sei Investments Co. increased its holdings in shares of Black Hills by 25.9% in the 4th quarter. Sei Investments Co. now owns 22,304 shares of the utilities provider's stock worth $1,305,000 after buying an additional 4,589 shares during the last quarter. LPL Financial LLC increased its holdings in shares of Black Hills by 11.7% in the 4th quarter. LPL Financial LLC now owns 32,591 shares of the utilities provider's stock worth $1,907,000 after buying an additional 3,422 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Black Hills by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 8,602,223 shares of the utilities provider's stock worth $503,402,000 after buying an additional 37,790 shares during the last quarter. Finally, Segall Bryant & Hamill LLC grew its holdings in shares of Black Hills by 46.5% during the 4th quarter. Segall Bryant & Hamill LLC now owns 35,056 shares of the utilities provider's stock valued at $2,051,000 after purchasing an additional 11,120 shares during the last quarter. Institutional investors own 86.71% of the company's stock.

Wall Street Analysts Forecast Growth

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

Black Hills Trading Up 0.5%

Shares of BKH stock traded up $0.27 on Tuesday, hitting $56.14. 88,784 shares of the company's stock traded hands, compared to its average volume of 503,261. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.62 and a current ratio of 0.76. Black Hills Corporation has a one year low of $54.92 and a one year high of $65.59. The company's fifty day simple moving average is $57.08 and its 200 day simple moving average is $58.66. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of 14.32, a P/E/G ratio of 2.62 and a beta of 0.70.

Black Hills (NYSE:BKH - Get Free Report) last released its 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 for the quarter, compared to the consensus estimate of $729.73 million. During the same period in the prior year, the business posted $1.87 EPS. Black Hills's revenue for the quarter was up 10.8% on a year-over-year basis. Equities analysts forecast that Black Hills Corporation will post 4.12 EPS for the current year.

Black Hills Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be given a dividend of $0.676 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $2.70 annualized dividend and a yield of 4.82%. Black Hills's payout ratio is currently 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.