12,293 Shares in Black Hills Corporation $BKH Acquired by Greenland Capital Management LP

Greenland Capital Management LP acquired a new stake in shares of Black Hills Corporation (NYSE:BKH) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 12,293 shares of the utilities provider’s stock, valued at approximately $690,000.

Several other large investors have also recently added to or reduced their stakes in BKH. Vanguard Group Inc. boosted its holdings in shares of Black Hills by 0.4% during the first quarter. Vanguard Group Inc. now owns 8,634,076 shares of the utilities provider’s stock valued at $523,657,000 after acquiring an additional 31,853 shares during the period. Geode Capital Management LLC lifted its position in Black Hills by 2.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,822,356 shares of the utilities provider’s stock valued at $102,252,000 after purchasing an additional 36,818 shares during the last quarter. AQR Capital Management LLC lifted its position in Black Hills by 1.7% in the 1st quarter. AQR Capital Management LLC now owns 888,412 shares of the utilities provider’s stock valued at $53,829,000 after purchasing an additional 14,437 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Black Hills by 5.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 867,720 shares of the utilities provider’s stock valued at $48,679,000 after purchasing an additional 43,541 shares during the period. Finally, Nuveen LLC bought a new position in Black Hills in the 1st quarter worth about $43,690,000. 86.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Kimberly F. Nooney sold 14,500 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $70.70, for a total transaction of $1,025,150.00. Following the completion of the sale, the chief financial officer directly owned 34,621 shares of the company’s stock, valued at $2,447,704.70. This represents a 29.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.63% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Weiss Ratings raised Black Hills from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, November 13th. Bank of America raised Black Hills from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $57.00 to $64.00 in a research note on Wednesday, August 20th. Finally, Scotiabank raised Black Hills from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $66.00 to $81.00 in a research note on Friday, November 7th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $71.00.

Black Hills Stock Performance

BKH opened at $69.63 on Thursday. The business has a 50 day moving average price of $63.43 and a two-hundred day moving average price of $60.05. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.64 and a quick ratio of 0.49. The company has a market capitalization of $5.07 billion, a price-to-earnings ratio of 17.54, a price-to-earnings-growth ratio of 2.95 and a beta of 0.76. Black Hills Corporation has a 1-year low of $54.92 and a 1-year high of $72.22.

Black Hills (NYSE:BKH) last issued its quarterly earnings results on Thursday, November 6th. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.45. The company had revenue of $430.20 million for the quarter, compared to analysts’ expectations of $439.96 million. Black Hills had a return on equity of 7.81% and a net margin of 12.68%.The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the firm earned $0.35 EPS. Research analysts predict that Black Hills Corporation will post 4.12 EPS for the current fiscal year.

Black Hills Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be paid a $0.676 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $2.70 annualized dividend and a dividend yield of 3.9%. Black Hills’s payout ratio is currently 68.18%.

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.