Insight Folios Inc Acquires 12,216 Shares of Black Hills Co. (NYSE:BKH)

Insight Folios Inc increased its holdings in shares of Black Hills Co. (NYSE:BKH) by 13.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,882 shares of the utilities provider’s stock after buying an additional 12,216 shares during the period. Black Hills accounts for about 2.3% of Insight Folios Inc’s investment portfolio, making the stock its 27th biggest holding. Insight Folios Inc’s holdings in Black Hills were worth $5,672,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Nebula Research & Development LLC bought a new stake in shares of Black Hills during the fourth quarter worth approximately $1,564,000. Vanguard Group Inc. increased its stake in Black Hills by 3.7% in the third quarter. Vanguard Group Inc. now owns 7,821,296 shares of the utilities provider’s stock valued at $395,679,000 after purchasing an additional 279,987 shares in the last quarter. Versor Investments LP increased its stake in Black Hills by 227.3% in the fourth quarter. Versor Investments LP now owns 31,425 shares of the utilities provider’s stock valued at $1,695,000 after purchasing an additional 21,825 shares in the last quarter. Diversified Trust Co increased its stake in Black Hills by 246.0% in the fourth quarter. Diversified Trust Co now owns 40,501 shares of the utilities provider’s stock valued at $2,185,000 after purchasing an additional 28,797 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its stake in Black Hills by 2,366.5% in the fourth quarter. Panagora Asset Management Inc. now owns 111,289 shares of the utilities provider’s stock valued at $6,004,000 after purchasing an additional 106,777 shares in the last quarter. 86.71% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

Black Hills Stock Up 0.1 %

Shares of Black Hills stock traded up $0.04 on Thursday, hitting $54.31. The company had a trading volume of 212,620 shares, compared to its average volume of 400,013. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.73 and a quick ratio of 0.61. The stock has a 50-day moving average of $54.87 and a 200-day moving average of $53.53. Black Hills Co. has a twelve month low of $46.43 and a twelve month high of $61.94. The firm has a market capitalization of $3.74 billion, a P/E ratio of 13.38 and a beta of 0.69.

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. The company had revenue of $726.40 million for the quarter, compared to analyst estimates of $683.00 million. Black Hills had a net margin of 12.92% and a return on equity of 8.37%. The company’s revenue was down 21.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.73 earnings per share. Research analysts predict that Black Hills Co. will post 3.92 earnings per share for the current 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 dividend of $0.65 per share. The ex-dividend date was Thursday, May 16th. This represents a $2.60 dividend on an annualized basis and a yield of 4.79%. Black Hills’s payout ratio is 64.04%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BKH. Wells Fargo & Company upped their target price on shares of Black Hills from $56.00 to $61.00 and gave the company an “equal weight” rating in a research note on Friday, May 10th. Mizuho upped their target price on shares of Black Hills from $53.00 to $57.00 and gave the company a “neutral” rating in a research note on Tuesday, June 4th. Scotiabank lowered their target price on shares of 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. Finally, StockNews.com raised shares of Black Hills from a “sell” rating to a “hold” rating in a research note on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $55.60.

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.