13,318 Shares in Black Hills Corporation (NYSE:BKH) Purchased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC bought a new position in Black Hills Corporation (NYSE:BKH - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 13,318 shares of the utilities provider's stock, valued at approximately $808,000.

A number of other hedge funds have also added to or reduced their stakes in BKH. Smartleaf Asset Management LLC increased its position in Black Hills by 66.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 432 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 173 shares during the period. Larson Financial Group LLC increased its position in Black Hills by 182.8% during the 4th quarter. Larson Financial Group LLC now owns 461 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 298 shares during the period. Global Retirement Partners LLC increased its position in Black Hills by 373.2% during the 4th quarter. Global Retirement Partners LLC now owns 530 shares of the utilities provider's stock valued at $31,000 after purchasing an additional 418 shares during the period. GAMMA Investing LLC increased its position in Black Hills by 59.2% during the 1st quarter. GAMMA Investing LLC now owns 605 shares of the utilities provider's stock valued at $37,000 after purchasing an additional 225 shares during the period. Finally, Quarry LP increased its position in Black Hills by 1,159.7% during the 4th quarter. Quarry LP now owns 781 shares of the utilities provider's stock valued at $46,000 after purchasing an additional 719 shares during the period. 86.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Black Hills Stock Down 0.4%

Shares of NYSE:BKH traded down $0.22 during midday trading on Friday, reaching $55.76. The company's stock had a trading volume of 879,487 shares, compared to its average volume of 459,644. The firm has a 50 day moving average of $58.77 and a 200-day moving average of $59.06. The firm has a market capitalization of $4.04 billion, a P/E ratio of 14.22, a PEG ratio of 2.58 and a beta of 0.72. 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 Corporation has a 12-month low of $53.04 and a 12-month high of $65.59.

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

Black Hills Announces Dividend

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