GAMMA Investing LLC Has $37,000 Holdings in Black Hills Corporation (NYSE:BKH)

GAMMA Investing LLC grew its stake in shares of Black Hills Corporation (NYSE:BKH) by 59.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 605 shares of the utilities provider’s stock after acquiring an additional 225 shares during the period. GAMMA Investing LLC’s holdings in Black Hills were worth $37,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of BKH. Smartleaf Asset Management LLC lifted its position in Black Hills by 66.8% during the fourth 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 last quarter. Jones Financial Companies Lllp lifted its position in Black Hills by 197.7% during the fourth quarter. Jones Financial Companies Lllp now owns 2,206 shares of the utilities provider’s stock worth $129,000 after acquiring an additional 1,465 shares during the last quarter. Assetmark Inc. lifted its position in Black Hills by 4.1% during the fourth quarter. Assetmark Inc. now owns 6,716 shares of the utilities provider’s stock worth $393,000 after acquiring an additional 263 shares during the last quarter. Atria Investments Inc lifted its position in Black Hills by 43.1% during the fourth quarter. Atria Investments Inc now owns 8,407 shares of the utilities provider’s stock worth $492,000 after acquiring an additional 2,533 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Black Hills in the fourth quarter valued at approximately $1,113,000. 86.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Black Hills Stock Up 1.4%

NYSE BKH opened at $57.53 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.62 and a debt-to-equity ratio of 1.06. Black Hills Corporation has a 1-year low of $54.83 and a 1-year high of $65.59. The company has a 50 day moving average of $57.67 and a 200-day moving average of $58.71. The company has a market cap of $4.17 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 2.63 and a beta of 0.70.

Black Hills (NYSE:BKH) last released 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 12.67% and a return on equity of 7.83%. The business had revenue of $805.20 million during the quarter, compared to analyst estimates of $729.73 million. During the same quarter in the previous year, the firm posted $1.87 earnings per share. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. 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 company also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Investors 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 yield of 4.70%. Black Hills’s dividend payout ratio (DPR) is 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.