Black Hills Co. (NYSE:BKH) Shares Acquired by Barnett & Company Inc.

Barnett & Company Inc. raised its position in Black Hills Co. (NYSE:BKH) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,500 shares of the utilities provider’s stock after acquiring an additional 200 shares during the quarter. Barnett & Company Inc.’s holdings in Black Hills were worth $439,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Zimmer Partners LP acquired a new stake in shares of Black Hills during the third quarter worth about $96,374,000. Franklin Resources Inc. raised its position in shares of Black Hills by 109.8% during the 3rd quarter. Franklin Resources Inc. now owns 882,646 shares of the utilities provider’s stock worth $53,356,000 after purchasing an additional 461,894 shares during the last quarter. Great Lakes Advisors LLC purchased a new position in Black Hills in the 4th quarter valued at about $10,490,000. Raymond James Financial Inc. purchased a new stake in shares of Black Hills in the fourth quarter valued at $8,413,000. Finally, Invenomic Capital Management LP purchased a new position in Black Hills during the third quarter worth approximately $8,260,000. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Black Hills Trading Down 2.1 %

Black Hills stock opened at $59.15 on Monday. Black Hills Co. has a 52-week low of $50.73 and a 52-week high of $65.59. The company has a quick ratio of 0.77, a current ratio of 0.97 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $4.26 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 2.75 and a beta of 0.68. The firm has a 50-day moving average price of $59.48 and a two-hundred day moving average price of $60.10.

Black Hills (NYSE:BKH) last announced its quarterly earnings data on Wednesday, February 5th. The utilities provider reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.17. Black Hills had a return on equity of 7.82% and a net margin of 12.84%. Sell-side analysts expect that Black Hills Co. will post 4.12 earnings per share for the current year.

Black Hills Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, February 18th were given a dividend of $0.676 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This is an increase from Black Hills’s previous quarterly dividend of $0.65. This represents a $2.70 dividend on an annualized basis and a yield of 4.57%. Black Hills’s payout ratio is presently 68.88%.

Wall Street Analyst Weigh In

Separately, Scotiabank decreased their target price on Black Hills from $67.00 to $66.00 and set a “sector perform” rating for the company in a research report on Friday, February 7th.

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.