Clearstead Trust LLC Buys Shares of 499 Black Hills Corporation (NYSE:BKH)

Clearstead Trust LLC bought a new position in shares of Black Hills Corporation (NYSE:BKH) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 499 shares of the utilities provider’s stock, valued at approximately $30,000.

A number of other institutional investors and hedge funds have also made changes to their positions in BKH. IMA Advisory Services Inc. purchased a new position in shares of Black Hills in the 1st quarter valued at about $30,000. GAMMA Investing LLC increased 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 valued at $37,000 after buying an additional 225 shares in the last quarter. Quarry LP increased its holdings in Black Hills by 1,159.7% in the fourth quarter. Quarry LP now owns 781 shares of the utilities provider’s stock valued at $46,000 after buying an additional 719 shares in the last quarter. Byrne Asset Management LLC lifted its position in shares of Black Hills by 238.0% during the 1st quarter. Byrne Asset Management LLC now owns 845 shares of the utilities provider’s stock valued at $51,000 after acquiring an additional 595 shares during the period. Finally, City State Bank purchased a new stake in shares of Black Hills during the 1st quarter worth approximately $61,000. 86.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Black Hills Trading Up 1.8%

Shares of BKH stock opened at $58.89 on Tuesday. The stock has a market cap of $4.29 billion, a P/E ratio of 14.83, a P/E/G ratio of 2.68 and a beta of 0.71. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 1.06. Black Hills Corporation has a fifty-two week low of $54.92 and a fifty-two week high of $65.59. The business has a fifty day simple moving average of $57.02 and a 200-day simple moving average of $58.66.

Black Hills (NYSE:BKH) last issued its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.38 EPS for the quarter, meeting analysts’ consensus estimates of $0.38. Black Hills had a net margin of 12.68% and a return on equity of 7.81%. The firm had revenue of $439.00 million for the quarter, compared to analysts’ expectations of $412.69 million. During the same period in the prior year, the company earned $0.33 EPS. The firm’s revenue was up 8.9% on a year-over-year basis. On average, analysts forecast that Black Hills Corporation will post 4.12 earnings per share for the current fiscal year.

Black Hills Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be given a dividend of $0.676 per share. This represents a $2.70 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Monday, August 18th. Black Hills’s payout ratio is currently 68.01%.

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.