Hexagon Capital Partners LLC Purchases 319 Shares of Black Hills Co. (NYSE:BKH)

Hexagon Capital Partners LLC increased its position in shares of Black Hills Co. (NYSE:BKH) by 77.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 732 shares of the utilities provider’s stock after buying an additional 319 shares during the period. Hexagon Capital Partners LLC’s holdings in Black Hills were worth $40,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC lifted its stake in shares of Black Hills by 51.9% in the 3rd quarter. FMR LLC now owns 259,564 shares of the utilities provider’s stock valued at $13,131,000 after purchasing an additional 88,742 shares during the period. Northern Trust Corp lifted its stake in Black Hills by 0.4% in the third quarter. Northern Trust Corp now owns 957,856 shares of the utilities provider’s stock valued at $48,458,000 after buying an additional 3,925 shares during the period. Natixis Advisors L.P. boosted its holdings in shares of Black Hills by 15.5% during the 3rd quarter. Natixis Advisors L.P. now owns 12,458 shares of the utilities provider’s stock worth $630,000 after buying an additional 1,670 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of Black Hills during the 3rd quarter worth approximately $2,476,000. Finally, Teza Capital Management LLC bought a new stake in shares of Black Hills in the 3rd quarter valued at $204,000. Institutional investors and hedge funds own 86.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BKH. StockNews.com upgraded shares of Black Hills from a “sell” rating to a “hold” rating in a report on Thursday, May 9th. Wells Fargo & Company boosted their target price on Black Hills from $56.00 to $61.00 and gave the company an “equal weight” rating in a research report on Friday, May 10th. Mizuho increased their price target on Black Hills from $53.00 to $57.00 and gave the stock a “neutral” rating in a report on Tuesday, June 4th. Finally, Scotiabank reduced their price objective on Black Hills from $58.00 to $54.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $55.60.

Black Hills Price Performance

BKH stock opened at $54.10 on Tuesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.61 and a current ratio of 0.73. The business has a 50-day simple moving average of $54.87 and a two-hundred day simple moving average of $53.53. The company has a market capitalization of $3.73 billion, a P/E ratio of 13.33 and a beta of 0.69. Black Hills Co. has a 52-week low of $46.43 and a 52-week high of $61.94.

Black Hills (NYSE:BKH) last issued its quarterly earnings data on Wednesday, May 8th. The utilities provider reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.17. Black Hills had a return on equity of 8.37% and a net margin of 12.92%. The business had revenue of $726.40 million for the quarter, compared to analysts’ expectations of $683.00 million. During the same period last year, the business earned $1.73 EPS. The business’s revenue was down 21.1% on a year-over-year basis. Research analysts expect that Black Hills Co. will post 3.92 EPS for the current fiscal year.

Black Hills Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 17th were paid a $0.65 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.60 annualized dividend and a yield of 4.81%. Black Hills’s dividend payout ratio (DPR) is 64.04%.

Insiders Place Their Bets

In other news, Director Rebecca B. Roberts sold 3,094 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $54.84, for a total value of $169,674.96. Following the completion of the transaction, the director now directly owns 7,956 shares of the company’s stock, valued at $436,307.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.63% 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.