Alps Advisors Inc. Raises Stock Holdings in Black Hills Corporation (NYSE:BKH)

Alps Advisors Inc. boosted its holdings in Black Hills Corporation (NYSE:BKH) by 7.9% in the first quarter, HoldingsChannel reports. The firm owned 18,388 shares of the utilities provider’s stock after purchasing an additional 1,342 shares during the period. Alps Advisors Inc.’s holdings in Black Hills were worth $1,115,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings 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 purchasing an additional 225 shares during the last quarter. Quarry LP lifted its holdings 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 purchasing an additional 719 shares during the last quarter. Byrne Asset Management LLC lifted its holdings 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 purchasing 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 acquired a new stake in Black Hills in the 4th quarter valued at approximately $71,000. Institutional investors own 86.71% of the company’s stock.

Black Hills Stock Down 1.0%

Shares of BKH stock opened at $56.95 on Monday. Black Hills Corporation has a 1 year low of $54.92 and a 1 year high of $65.59. The stock has a market cap of $4.13 billion, a PE ratio of 14.53, a price-to-earnings-growth ratio of 2.64 and a beta of 0.70. The business’s fifty day moving average is $57.59 and its 200-day moving average is $58.69. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.62 and a current ratio of 0.76.

Black Hills (NYSE:BKH) last issued 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). The firm 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 firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.87 earnings per share. Equities analysts expect that Black Hills Corporation will post 4.12 earnings per share for the current fiscal year.

Black Hills Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Friday, May 16th were issued a $0.676 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date of this dividend was Friday, May 16th. Black Hills’s payout ratio is 68.88%.

Wall Street Analyst Weigh In

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

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.