Cerity Partners LLC Acquires 2,313 Shares of Black Hills Corporation (NYSE:BKH)

Cerity Partners LLC increased its stake in shares of Black Hills Corporation (NYSE:BKH) by 6.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,241 shares of the utilities provider’s stock after acquiring an additional 2,313 shares during the quarter. Cerity Partners LLC owned approximately 0.06% of Black Hills worth $2,441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC grew 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 buying an additional 225 shares during the last quarter. Quarry LP grew its position 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 worth $46,000 after buying an additional 719 shares during the last quarter. Byrne Asset Management LLC grew 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 buying an additional 595 shares during the last quarter. City State Bank bought a new stake in shares of Black Hills in the 1st quarter worth approximately $61,000. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Black Hills in the 4th quarter worth approximately $71,000. Institutional investors own 86.71% of the company’s stock.

Wall Street Analyst Weigh In

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

Black Hills Stock Performance

Shares of 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. Black Hills Corporation has a one year low of $54.92 and a one year high of $65.59. The firm has a market capitalization of $4.12 billion, a P/E ratio of 14.49, a PEG ratio of 2.63 and a beta of 0.70. The business has a fifty day moving average of $57.24 and a 200 day moving average of $58.64.

Black Hills (NYSE:BKH) last released its quarterly earnings results 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 net margin of 12.67% and a return on equity of 7.83%. The company had revenue of $805.20 million for the quarter, compared to the consensus estimate of $729.73 million. During the same period in the prior year, the firm posted $1.87 EPS. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Black Hills Corporation will post 4.12 EPS for the current year.

Black Hills Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Friday, May 16th were given a dividend of $0.676 per share. The ex-dividend date was Friday, May 16th. This represents a $2.70 dividend on an annualized basis and a yield of 4.76%. Black Hills’s dividend payout ratio (DPR) is presently 68.88%.

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.