Lesa Sroufe & Co Acquires Shares of 43,829 Black Hills Corporation (NYSE:BKH)

Lesa Sroufe & Co purchased a new position in Black Hills Corporation (NYSE:BKH - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 43,829 shares of the utilities provider's stock, valued at approximately $2,658,000. Black Hills makes up approximately 2.7% of Lesa Sroufe & Co's investment portfolio, making the stock its 11th biggest holding. Lesa Sroufe & Co owned about 0.06% of Black Hills as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Smartleaf Asset Management LLC increased 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 worth $25,000 after purchasing an additional 173 shares during the last quarter. 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 in the last quarter. Global Retirement Partners LLC raised its position in shares of 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 buying an additional 418 shares in the last quarter. GAMMA Investing LLC raised its position in shares of 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 buying an additional 225 shares in the last quarter. Finally, Quarry LP lifted its holdings in shares of Black Hills by 1,159.7% in the 4th quarter. Quarry LP now owns 781 shares of the utilities provider's stock valued at $46,000 after acquiring an additional 719 shares during the last quarter. Institutional investors own 86.71% of the company's stock.

Analysts Set New Price Targets

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

Black Hills Trading Down 0.4%

BKH traded down $0.22 during trading on Friday, reaching $55.76. The company had a trading volume of 879,485 shares, compared to its average volume of 462,123. The company has a quick ratio of 0.62, a current ratio of 0.76 and a debt-to-equity ratio of 1.06. The business has a 50 day simple moving average of $58.82 and a 200-day simple moving average of $59.14. The stock has a market cap of $4.04 billion, a P/E ratio of 14.22, a PEG ratio of 2.59 and a beta of 0.72. Black Hills Corporation has a 52 week low of $52.42 and a 52 week 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 (EPS) for the quarter, missing the consensus estimate of $1.92 by ($0.05). Black Hills had a return on equity of 7.83% and a net margin of 12.67%. The firm had revenue of $805.20 million during the quarter, compared to the consensus estimate of $729.73 million. During the same quarter last year, the business posted $1.87 EPS. Black Hills's revenue was up 10.8% compared to the same quarter last year. On average, equities analysts anticipate that Black Hills Corporation will post 4.12 EPS for the current fiscal year.

Black Hills Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Friday, May 16th were paid a $0.676 dividend. This represents a $2.70 annualized dividend and a yield of 4.85%. The ex-dividend date of this dividend was Friday, May 16th. Black Hills's payout ratio is currently 68.88%.

Black Hills Company Profile

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.