Boston Partners purchased a new position in Black Hills Corporation (NYSE:BKH - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 11,013 shares of the utilities provider's stock, valued at approximately $668,000.
Other large investors also recently added to or reduced their stakes in the company. Clearstead Trust LLC purchased a new position in Black Hills in the 1st quarter worth approximately $30,000. IMA Advisory Services Inc. purchased a new position in Black Hills in the 1st quarter worth approximately $30,000. GAMMA Investing LLC lifted its holdings in Black Hills by 59.2% in the 1st quarter. GAMMA Investing LLC now owns 605 shares of the utilities provider's stock worth $37,000 after purchasing an additional 225 shares in the last quarter. Quarry LP lifted its holdings in Black Hills by 1,159.7% in the 4th quarter. Quarry LP now owns 781 shares of the utilities provider's stock worth $46,000 after purchasing an additional 719 shares in the last quarter. Finally, Byrne Asset Management LLC lifted its holdings in Black Hills by 238.0% in the 1st quarter. Byrne Asset Management LLC now owns 845 shares of the utilities provider's stock worth $51,000 after purchasing an additional 595 shares in the last quarter. 86.71% of the stock is owned by hedge funds and other institutional investors.
Black Hills Trading Up 2.1%
Shares of NYSE BKH traded up $1.2310 during trading hours on Friday, hitting $60.9510. 608,117 shares of the company traded hands, compared to its average volume of 822,122. The stock has a market capitalization of $4.44 billion, a price-to-earnings ratio of 15.35, a price-to-earnings-growth ratio of 2.83 and a beta of 0.71. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 1.06. The company's 50 day moving average price is $57.82 and its 200 day moving average price is $58.84. 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 released its earnings results on Wednesday, July 30th. The utilities provider reported $0.38 earnings per share for the quarter, meeting the consensus estimate of $0.38. The firm had revenue of $439.00 million for the quarter, compared to the consensus estimate of $412.69 million. Black Hills had a return on equity of 7.81% and a net margin of 12.68%.The company's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS. Black Hills has set its FY 2025 guidance at 4.000-4.200 EPS. On average, equities research analysts anticipate that Black Hills Corporation will post 4.12 earnings per share for the current fiscal year.
Black Hills Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders 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 dividend yield of 4.4%. Black Hills's payout ratio is currently 68.01%.
Analysts Set New Price Targets
A number of research analysts recently commented on the company. BMO Capital Markets assumed coverage on Black Hills in a report on Tuesday, May 13th. They issued an "outperform" rating and a $68.00 price target on the stock. Bank of America raised Black Hills from an "underperform" rating to a "neutral" rating and lifted their price objective for the stock from $57.00 to $64.00 in a research note on Wednesday. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $66.00.
Check Out Our Latest Analysis on BKH
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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