Black Hills Co. (NYSE:BKH) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC boosted its position in shares of Black Hills Co. (NYSE:BKH) by 9,556.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,693 shares of the utilities provider’s stock after purchasing an additional 36,313 shares during the period. GAMMA Investing LLC owned approximately 0.05% of Black Hills worth $2,225,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC raised its stake in shares of Black Hills by 66.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 432 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 173 shares during the period. Larson Financial Group LLC raised its holdings in shares of Black Hills by 182.8% in the fourth quarter. Larson Financial Group LLC now owns 461 shares of the utilities provider’s stock valued at $27,000 after buying an additional 298 shares during the last quarter. Global Retirement Partners LLC raised 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 worth $31,000 after buying an additional 418 shares during the last quarter. Quarry LP increased 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 purchasing an additional 719 shares in the last quarter. Finally, Marshall Investment Management LLC purchased a new position in shares of Black Hills in the 4th quarter valued at about $54,000. 86.71% of the stock is owned by hedge funds and other institutional investors.

Black Hills Price Performance

BKH opened at $56.74 on Friday. The company’s 50 day simple moving average is $58.96 and its 200 day simple moving average is $59.35. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.77 and a current ratio of 0.97. Black Hills Co. has a 1 year low of $51.66 and a 1 year high of $65.59. The stock has a market capitalization of $4.11 billion, a PE ratio of 14.47, a P/E/G ratio of 2.75 and a beta of 0.72.

Black Hills (NYSE:BKH) last announced its quarterly 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). Black Hills had a net margin of 12.84% and a return on equity of 7.82%. The business had revenue of $805.20 million for the quarter, compared to analyst estimates of $729.73 million. During the same period last year, the firm earned $1.87 earnings per share. The company’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, sell-side analysts expect that Black Hills Co. will post 4.12 EPS for the current year.

Black Hills Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Friday, May 16th were issued a $0.676 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.70 annualized dividend and a yield of 4.77%. Black Hills’s dividend payout ratio is presently 68.88%.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets initiated coverage on shares of Black Hills in a research note on Tuesday, May 13th. They issued an “outperform” rating and a $68.00 price objective on the stock.

Black Hills 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.