Hunter Perkins Capital Management LLC Shows Confidence in Black Hills Co. with Increased Stake
In the first quarter of 2021, Hunter Perkins Capital Management LLC demonstrated their confidence in Black Hills Co. by boosting their stake in the company by an impressive 76.3%, according to the latest disclosure with the United States Securities and Exchange Commission (SEC). The renowned fund now owns a total of 29,456 shares of Black Hills’ stocks, which translates to an additional 12,746 shares acquired during that time frame. Based on the most recent filing with the SEC, Hunter Perkins Capital Management LLC’s holdings in Black hills have a value of $1,859,000.
This move from Hunter Perkins Capital Management LLC comes shortly after Black Hills announced its quarterly earnings results last May 3rd. In that announcement, it was reported that the utilities provider had earned $1.73 earnings per share (EPS) for the quarter, which exceeded analysts’ consensus estimates by $0.06 at $1.67 EPS. Despite this challenging economic environment due to the pandemic outbreak and subsequent government responses worldwide over the past year or so, Black Hills still managed to hit net margins of 9.62% and recorded returns on equity of close to 8.33%. This news was warmly received by market analysts as well since they were expecting revenue estimates around $754M based on current forecasts; yet they saw a higher revenue reading for this period at about $921 million.
While two investment analysts gave a fair “sell” rating while five others signaled a holding sentiment toward offering coverage against Black Hills’ stock performance in recent times; however, StockNews.com actually upgraded their perception from Sell up to Hold just recently on June 3rd – signaling some positive indicators ahead favoring other analysis projecting more bullish sentiment surrounding one of America’s premier electricity utility companies.
All these updates about Black Hills bode well as we see signs of recovery for the energy sector after a year of economic volatility – perhaps this is why Hunter Perkins Capital Management LLC increased their stake during such challenging times. As the rest of the business world continues to prepare for a post-pandemic landscape, we should reasonably expect more from Black Hills Co. moving forward too with Hunter Perkins and similar investors closely keeping watch – as they not only steadily grow shareholder equity value; but increase confidence levels in other similarly-focused energy firms across diverse market conditions and industry challenges alike too in the process.
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Institutional Investors Take Interest in Black Hills Co. as Stock Ratings and Dividend Announcement Amass Attention
Black Hills Co., a utilities provider, has recently seen activity from various institutional investors, including hedge funds who have both bought and sold shares of the company. Belpointe Asset Management LLC purchased a new stake valued at $29,000 during the fourth quarter, while other such as EverSource Wealth Advisors LLC and Ronald Blue Trust Inc. increased their stakes by 594.7% and 78.3%, respectively, during the same period. CENTRAL TRUST Co also raised its stake in Black Hills by 63.3% in the third quarter and Quadrant Capital Group LLC increased its stake by 137.8% in the fourth quarter, with a total of 86.24% of the stocks now being owned by hedge funds and institutional investors.
Black Hill’s stock opened on Friday at $59.48 and currently holds a quick ratio of 0.76, a current ratio of 0.88, and a debt-to-equity ratio of 1:24 along with a beta of 0.59. The company has recorded a market cap of $3.98 billion alongside a price-to-earnings-growth ratio of 7:25.
Furthermore, StockNews.com upgraded shares from rating “sell” to “hold” while Bloomberg recorded an average price target of around $67:29 along with two investment analysts giving it sell ratings while five others provided hold ratings.
The firm recently announced its quarterly dividend as well; even amidst all these numbers, what stands out is that Richard Kinzley, CFO Black Hill’s Co., sold over ten thousand shares within May alone in his role within the organisation according to SEC disclosures filed with respect to insider-trading.
All these latest developments paint an exciting picture for Black Hill’s stakeholders globally as well for interested investors in specific who are volatile in their approach when it comes to dealing with institutional buying groups or individual corporate presentations making headlines in major dailies.