Quadrature Capital Ltd Acquires 995 Shares of Black Hills Co. (NYSE:BKH)

Quadrature Capital Ltd grew its position in shares of Black Hills Co. (NYSE:BKH) by 8.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,438 shares of the utilities provider’s stock after purchasing an additional 995 shares during the quarter. Quadrature Capital Ltd’s holdings in Black Hills were worth $726,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its holdings in Black Hills by 53.8% during the 4th quarter. Parallel Advisors LLC now owns 752 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 263 shares during the last quarter. Allworth Financial LP raised its holdings in Black Hills by 101.2% during the 4th quarter. Allworth Financial LP now owns 807 shares of the utilities provider’s stock worth $44,000 after purchasing an additional 406 shares during the last quarter. CWM LLC raised its holdings in Black Hills by 564.3% during the 4th quarter. CWM LLC now owns 2,046 shares of the utilities provider’s stock worth $110,000 after purchasing an additional 1,738 shares during the last quarter. ICA Group Wealth Management LLC bought a new position in Black Hills during the 4th quarter worth approximately $121,000. Finally, Covestor Ltd raised its holdings in Black Hills by 1,042.6% during the 3rd quarter. Covestor Ltd now owns 3,245 shares of the utilities provider’s stock worth $164,000 after purchasing an additional 2,961 shares during the last quarter. Institutional investors own 86.71% of the company’s stock.

Black Hills Stock Performance

NYSE BKH opened at $53.13 on Friday. The company has a fifty day simple moving average of $54.71 and a 200 day simple moving average of $53.56. Black Hills Co. has a 12-month low of $46.43 and a 12-month high of $61.94. The company has a current ratio of 0.73, a quick ratio of 0.61 and a debt-to-equity ratio of 1.11. The company has a market cap of $3.66 billion, a P/E ratio of 13.09 and a beta of 0.69.

Black Hills (NYSE:BKH) last posted its quarterly earnings results on Wednesday, May 8th. The utilities provider reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.17. Black Hills had a net margin of 12.92% and a return on equity of 8.37%. The business had revenue of $726.40 million during the quarter, compared to the consensus estimate of $683.00 million. During the same quarter last year, the firm posted $1.73 EPS. Black Hills’s revenue was down 21.1% compared to the same quarter last year.

Black Hills Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 17th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend was Thursday, May 16th. Black Hills’s dividend payout ratio is 64.04%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Mizuho raised their price objective on shares of Black Hills from $53.00 to $57.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 4th. Scotiabank reduced their price objective on shares of Black Hills from $58.00 to $54.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. Wells Fargo & Company raised their price objective on shares of Black Hills from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Friday, May 10th. Finally, StockNews.com raised shares of Black Hills from a “sell” rating to a “hold” rating in a research report on Thursday, May 9th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $55.60.

Insiders Place Their Bets

In other Black Hills news, Director Rebecca B. Roberts sold 3,094 shares of Black Hills stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $54.84, for a total transaction of $169,674.96. Following the transaction, the director now directly owns 7,956 shares of the company’s stock, valued at approximately $436,307.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.61% of the company’s stock.

About Black Hills

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.