Signaturefd LLC reduced its position in Black Hills Corp (NYSE:BKH) by 12.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,448 shares of the utilities provider’s stock after selling 204 shares during the quarter. Signaturefd LLC’s holdings in Black Hills were worth $107,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Acadian Asset Management LLC raised its position in Black Hills by 244.0% in the first quarter. Acadian Asset Management LLC now owns 114,231 shares of the utilities provider’s stock worth $8,461,000 after acquiring an additional 81,025 shares in the last quarter. First Trust Advisors LP raised its position in Black Hills by 21.4% in the first quarter. First Trust Advisors LP now owns 488,403 shares of the utilities provider’s stock worth $36,176,000 after acquiring an additional 85,946 shares in the last quarter. Martingale Asset Management L P raised its position in Black Hills by 36.1% in the first quarter. Martingale Asset Management L P now owns 129,436 shares of the utilities provider’s stock worth $9,588,000 after acquiring an additional 34,316 shares in the last quarter. Piedmont Investment Advisors Inc. purchased a new position in Black Hills in the first quarter worth $227,000. Finally, Hanseatic Management Services Inc. purchased a new position in Black Hills in the first quarter worth $157,000. 87.11% of the stock is owned by institutional investors and hedge funds.

Several research analysts have issued reports on BKH shares. Zacks Investment Research cut Black Hills from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Scotiabank upgraded Black Hills from an “underperform” rating to a “sector perform” rating and raised their price target for the company from $64.00 to $70.00 in a research report on Wednesday, May 8th. Credit Suisse Group set a $72.00 price target on Black Hills and gave the company a “hold” rating in a research report on Tuesday, March 5th. Bank of America upgraded Black Hills from an “underperform” rating to a “neutral” rating and set a $69.00 price target for the company in a research report on Monday, February 11th. Finally, Williams Capital restated a “hold” rating on shares of Black Hills in a research report on Monday, March 18th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Black Hills has an average rating of “Hold” and a consensus target price of $68.71.

In other news, insider David R. Emery sold 7,500 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $72.03, for a total value of $540,225.00. Following the completion of the transaction, the insider now owns 197,806 shares in the company, valued at $14,247,966.18. The sale was disclosed in a document filed with the SEC, which is available at this link. In the last 90 days, insiders sold 22,500 shares of company stock valued at $1,646,250. Company insiders own 1.00% of the company’s stock.

Shares of BKH stock opened at $76.20 on Friday. Black Hills Corp has a fifty-two week low of $55.07 and a fifty-two week high of $78.52. The firm has a market capitalization of $4.52 billion, a PE ratio of 21.53, a PEG ratio of 4.51 and a beta of 0.44. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.82 and a quick ratio of 0.67.

Black Hills (NYSE:BKH) last announced its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.15. Black Hills had a return on equity of 9.97% and a net margin of 12.91%. The business had revenue of $597.80 million during the quarter, compared to analysts’ expectations of $581.85 million. During the same quarter last year, the business posted $1.63 earnings per share. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Black Hills Corp will post 3.48 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Friday, May 17th were given a $0.505 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend was Thursday, May 16th. Black Hills’s dividend payout ratio is currently 57.06%.

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About Black Hills

Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. It operates through Electric Utilities, Gas Utilities, Power Generation, and Mining segments. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 212,000 electric customers in Colorado, Montana, South Dakota, and Wyoming, as well as provides electrical system construction services to large industrial customers.

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Institutional Ownership by Quarter for Black Hills (NYSE:BKH)

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