Trexquant Investment LP Makes New $2.90 Million Investment in Black Hills Corporation $BKH

Key Points

• Trexquant Investment LP has acquired 47,858 shares of Black Hills Corporation, valued at approximately $2.9 million, bringing its stake to around 0.07% of the company.
• Black Hills announced a quarterly dividend of $0.676, which translates to an annualized dividend yield of 4.5%.
• Research analysts have given Black Hills a consensus rating of "Hold" with a price target of $66.00 after recent upgrades from Bank of America.

Trexquant Investment LP acquired a new stake in shares of Black Hills Corporation (NYSE:BKH - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 47,858 shares of the utilities provider's stock, valued at approximately $2,903,000. Trexquant Investment LP owned 0.07% of Black Hills at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. IMA Advisory Services Inc. purchased a new position in Black Hills during the first quarter valued at $30,000. Clearstead Trust LLC purchased a new position in shares of Black Hills in the 1st quarter worth about $30,000. GAMMA Investing LLC raised its position in shares of 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 during the last quarter. Byrne Asset Management LLC raised its position in shares of 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 during the last quarter. Finally, City State Bank purchased a new position in shares of Black Hills in the 1st quarter worth about $61,000. Hedge funds and other institutional investors own 86.71% of the company's stock.

Analyst Upgrades and Downgrades

BKH has been the subject of several recent analyst reports. BMO Capital Markets initiated coverage on Black Hills in a research report on Tuesday, May 13th. They issued an "outperform" rating and a $68.00 price target for the company. Bank of America raised Black Hills from an "underperform" rating to a "neutral" rating and lifted their price target for the stock from $57.00 to $64.00 in a research report on Wednesday, August 20th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $66.00.

Black Hills Stock Performance

Shares of Black Hills stock traded down $0.13 during trading hours on Tuesday, reaching $58.34. 81,347 shares of the stock traded hands, compared to its average volume of 542,005. The company has a 50 day moving average price of $58.60 and a 200 day moving average price of $58.84. The firm has a market capitalization of $4.25 billion, a price-to-earnings ratio of 14.70, a P/E/G ratio of 2.77 and a beta of 0.74. Black Hills Corporation has a one year low of $54.92 and a one year high of $65.59. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 1.06.

Black Hills (NYSE:BKH - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.38. The business had revenue of $439.00 million during 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 business's quarterly revenue was up 8.9% compared to the same quarter last year. During the same period 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 expect that Black Hills Corporation will post 4.12 earnings per share for the current fiscal year.

Black Hills Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were paid a dividend of $0.676 per share. The ex-dividend date was Monday, August 18th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.6%. Black Hills's payout ratio is 68.01%.

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.