Kestra Investment Management LLC Takes Position in Black Hills Co. (NYSE:BKH)

Kestra Investment Management LLC purchased a new stake in Black Hills Co. (NYSE:BKH) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 13,392 shares of the utilities provider’s stock, valued at approximately $784,000.

Other large investors have also added to or reduced their stakes in the company. Versant Capital Management Inc boosted its holdings in Black Hills by 181.5% during the fourth quarter. Versant Capital Management Inc now owns 473 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 305 shares during the last quarter. Blue Trust Inc. boosted its holdings in Black Hills by 84.9% during the third quarter. Blue Trust Inc. now owns 577 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 265 shares during the last quarter. UMB Bank n.a. boosted its holdings in Black Hills by 83.3% during the fourth quarter. UMB Bank n.a. now owns 625 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 284 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Black Hills during the third quarter worth $45,000. Finally, Point72 DIFC Ltd acquired a new position in Black Hills during the third quarter worth $82,000. Institutional investors and hedge funds own 86.71% of the company’s stock.

Analyst Ratings Changes

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

Black Hills Stock Performance

NYSE BKH opened at $59.08 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 0.83 and a debt-to-equity ratio of 1.20. The firm’s fifty day moving average price is $58.67 and its two-hundred day moving average price is $59.73. Black Hills Co. has a 1 year low of $50.72 and a 1 year high of $65.59. The firm has a market capitalization of $4.23 billion, a P/E ratio of 15.07, a price-to-earnings-growth ratio of 4.30 and a beta of 0.73.

Black Hills (NYSE:BKH) last posted its quarterly earnings results on Wednesday, February 5th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.17. Black Hills had a net margin of 12.84% and a return on equity of 7.88%. As a group, research analysts anticipate that Black Hills Co. will post 4.13 EPS for the current year.

Black Hills Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, February 18th will be given a $0.676 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This is a positive change from Black Hills’s previous quarterly dividend of $0.65. This represents a $2.70 annualized dividend and a dividend yield of 4.58%. Black Hills’s dividend payout ratio is presently 66.33%.

Black Hills Company 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.