Atria Wealth Solutions Inc. Cuts Stake in Black Hills Corporation (NYSE:BKH)

Atria Wealth Solutions Inc. lowered its position in shares of Black Hills Corporation (NYSE:BKH) by 18.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,821 shares of the utilities provider’s stock after selling 1,318 shares during the period. Atria Wealth Solutions Inc.’s holdings in Black Hills were worth $353,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. IMA Advisory Services Inc. purchased a new position in Black Hills in the first quarter valued at about $30,000. Clearstead Trust LLC purchased a new position in Black Hills in the first quarter valued at about $30,000. GAMMA Investing LLC grew its stake 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 purchasing an additional 225 shares during the last quarter. Quarry LP grew its stake 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 purchasing an additional 719 shares during the last quarter. Finally, Byrne Asset Management LLC grew its stake in Black Hills by 238.0% in the first quarter. Byrne Asset Management LLC now owns 845 shares of the utilities provider’s stock valued at $51,000 after purchasing an additional 595 shares during the last quarter. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Black Hills Price Performance

BKH opened at $61.66 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.64 and a quick ratio of 0.49. The firm has a market capitalization of $4.49 billion, a PE ratio of 15.53, a price-to-earnings-growth ratio of 2.85 and a beta of 0.71. The business’s 50-day moving average is $57.52 and its two-hundred day moving average is $58.79. Black Hills Corporation has a 1 year low of $54.92 and a 1 year high of $65.59.

Black Hills (NYSE:BKH) last issued its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.38 earnings per share for the quarter, hitting the consensus estimate of $0.38. The business had revenue of $439.00 million during the quarter, compared to the consensus estimate of $412.69 million. Black Hills had a return on equity of 7.81% and a net margin of 12.68%. The company’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the company earned $0.33 earnings per share. Research analysts anticipate that Black Hills Corporation will post 4.12 earnings per share for the current fiscal year.

Black Hills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be issued a $0.676 dividend. This represents a $2.70 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Monday, August 18th. Black Hills’s dividend payout ratio (DPR) is currently 68.01%.

Analysts Set New Price Targets

Separately, BMO Capital Markets assumed coverage on Black Hills in a research note 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.