Exchange Traded Concepts LLC Acquires Shares of 13,318 Black Hills Corporation (NYSE:BKH)

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 Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,318 shares of the utilities provider's stock, valued at approximately $808,000.

Other hedge funds also recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its holdings in shares of Black Hills by 66.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 432 shares of the utilities provider's stock worth $25,000 after acquiring an additional 173 shares during the period. Larson Financial Group LLC grew its stake in shares of Black Hills by 182.8% in the 4th quarter. Larson Financial Group LLC now owns 461 shares of the utilities provider's stock worth $27,000 after buying an additional 298 shares during the last quarter. Global Retirement Partners LLC raised its stake in Black Hills by 373.2% during the fourth quarter. Global Retirement Partners LLC now owns 530 shares of the utilities provider's stock valued at $31,000 after buying an additional 418 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Black Hills by 59.2% in the first quarter. GAMMA Investing LLC now owns 605 shares of the utilities provider's stock worth $37,000 after acquiring an additional 225 shares in the last quarter. Finally, Quarry LP grew its stake in shares of Black Hills by 1,159.7% in the fourth quarter. Quarry LP now owns 781 shares of the utilities provider's stock worth $46,000 after acquiring an additional 719 shares during the last quarter. Hedge funds and other institutional investors own 86.71% of the company's stock.

Wall Street Analyst Weigh In

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

Black Hills Stock Down 0.3%

Shares of BKH traded down $0.16 on Tuesday, hitting $56.84. 392,568 shares of the stock traded hands, compared to its average volume of 459,860. Black Hills Corporation has a one year low of $53.04 and a one year high of $65.59. The company has a market capitalization of $4.12 billion, a PE ratio of 14.50, a P/E/G ratio of 2.58 and a beta of 0.72. The business has a 50 day simple moving average of $58.71 and a 200 day simple moving average of $59.00. 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 (NYSE:BKH - Get Free Report) last posted its earnings results on Wednesday, May 7th. The utilities provider reported $1.87 EPS 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 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% on a year-over-year basis. During the same period in the previous year, the business posted $1.87 EPS. As a group, equities analysts forecast that Black Hills Corporation will post 4.12 earnings per share for the current fiscal year.

Black Hills Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Friday, May 16th were paid 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 4.76%. Black Hills's dividend payout ratio (DPR) 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.