Black Hills Corporation (NYSE:BKH) Shares Bought by Arizona State Retirement System

Arizona State Retirement System grew its holdings in shares of Black Hills Corporation (NYSE:BKH) by 1.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,530 shares of the utilities provider’s stock after acquiring an additional 288 shares during the period. Arizona State Retirement System’s holdings in Black Hills were worth $1,245,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Principal Financial Group Inc. lifted its position in shares of Black Hills by 1.9% during the first quarter. Principal Financial Group Inc. now owns 215,402 shares of the utilities provider’s stock worth $13,064,000 after purchasing an additional 4,077 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Black Hills by 15.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,918 shares of the utilities provider’s stock worth $480,000 after purchasing an additional 1,087 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Black Hills by 215.5% in the first quarter. Farther Finance Advisors LLC now owns 1,647 shares of the utilities provider’s stock worth $100,000 after acquiring an additional 1,125 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Black Hills by 59.2% in the first quarter. GAMMA Investing LLC now owns 605 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 225 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Black Hills in the fourth quarter worth about $96,000. 86.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Black Hills Price Performance

NYSE BKH opened at $56.82 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.76 and a quick ratio of 0.62. The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of 14.49, a price-to-earnings-growth ratio of 2.63 and a beta of 0.70. The company has a 50 day simple moving average of $57.24 and a 200-day simple moving average of $58.64. Black Hills Corporation has a 52-week low of $54.92 and a 52-week high of $65.59.

Black Hills (NYSE:BKH) last issued its earnings results on Wednesday, May 7th. The utilities provider reported $1.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.92 by ($0.05). The company had revenue of $805.20 million for the quarter, compared to analyst estimates of $729.73 million. Black Hills had a net margin of 12.67% and a return on equity of 7.83%. The company’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period last year, the business earned $1.87 EPS. Equities research analysts predict that Black Hills Corporation will post 4.12 earnings per share for the current fiscal year.

Black Hills Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Friday, May 16th were paid a dividend of $0.676 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.70 annualized dividend and a yield of 4.76%. Black Hills’s dividend payout ratio 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.