Exchange Traded Concepts LLC Acquires New Holdings in Black Hills Corporation (NYSE:BKH)

Exchange Traded Concepts LLC acquired a new stake in shares of Black Hills Corporation (NYSE:BKH) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 13,318 shares of the utilities provider’s stock, valued at approximately $808,000.

A number of other institutional investors also recently added to or reduced their stakes in BKH. First Trust Advisors LP boosted its position in Black Hills by 309.5% during the fourth quarter. First Trust Advisors LP now owns 953,431 shares of the utilities provider’s stock valued at $55,795,000 after purchasing an additional 720,628 shares in the last quarter. Bank of America Corp DE boosted its holdings in Black Hills by 203.6% in the fourth quarter. Bank of America Corp DE now owns 507,986 shares of the utilities provider’s stock worth $29,727,000 after acquiring an additional 340,686 shares in the last quarter. Capital Research Global Investors boosted its holdings in Black Hills by 21.5% in the fourth quarter. Capital Research Global Investors now owns 1,845,088 shares of the utilities provider’s stock worth $107,975,000 after acquiring an additional 326,959 shares in the last quarter. Millennium Management LLC boosted its holdings in Black Hills by 113.6% in the fourth quarter. Millennium Management LLC now owns 463,459 shares of the utilities provider’s stock worth $27,122,000 after acquiring an additional 246,500 shares in the last quarter. Finally, Great Lakes Advisors LLC acquired a new stake in Black Hills in the fourth quarter worth about $10,490,000. Institutional investors own 86.71% of the company’s stock.

Black Hills Trading Down 0.4%

Shares of NYSE:BKH opened at $55.76 on Friday. Black Hills Corporation has a 52-week low of $52.99 and a 52-week high of $65.59. The stock has a market cap of $4.04 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 2.59 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. The business has a 50-day moving average price of $58.77 and a 200-day moving average price of $59.09.

Black Hills (NYSE:BKH) last announced its quarterly earnings data 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 analysts’ expectations of $729.73 million. During the same quarter in the previous year, the business earned $1.87 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. Equities analysts predict that Black Hills Corporation 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 given a dividend of $0.676 per share. This represents a $2.70 annualized dividend and a yield of 4.85%. The ex-dividend date was Friday, May 16th. Black Hills’s dividend payout ratio is currently 68.88%.

Wall Street Analysts Forecast Growth

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

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.