Summit Investment Advisors Inc. Buys 483 Shares of Black Hills Co. (NYSE:BKH)

Summit Investment Advisors Inc. increased its position in shares of Black Hills Co. (NYSE:BKH) by 1.2% in the 4th quarter, HoldingsChannel reports. The firm owned 41,319 shares of the utilities provider’s stock after acquiring an additional 483 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Black Hills were worth $2,418,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its position in shares of Black Hills by 66.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 432 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 173 shares in the last quarter. Larson Financial Group LLC lifted its stake in Black Hills by 182.8% during the fourth quarter. Larson Financial Group LLC now owns 461 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 298 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of Black Hills by 181.5% in the 4th quarter. Versant Capital Management Inc now owns 473 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 305 shares in the last quarter. Global Retirement Partners LLC increased its stake in shares of Black Hills by 373.2% in the 4th quarter. Global Retirement Partners LLC now owns 530 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 418 shares during the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of Black Hills by 83.3% during the 4th quarter. UMB Bank n.a. now owns 625 shares of the utilities provider’s stock worth $37,000 after buying an additional 284 shares in the last quarter. 86.71% of the stock is currently owned by institutional investors and hedge funds.

Black Hills Stock Up 2.5 %

Shares of NYSE:BKH opened at $59.80 on Tuesday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.77 and a current ratio of 0.97. Black Hills Co. has a 52-week low of $50.73 and a 52-week high of $65.59. The company has a market capitalization of $4.31 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 2.75 and a beta of 0.64. The company has a fifty day moving average of $59.67 and a 200-day moving average of $59.90.

Black Hills (NYSE:BKH) last posted its earnings results on Wednesday, February 5th. The utilities provider reported $1.37 EPS 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%. On average, equities analysts predict that Black Hills Co. will post 4.12 EPS for the current fiscal year.

Black Hills Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, February 18th were given a $0.676 dividend. This is a boost from Black Hills’s previous quarterly dividend of $0.65. This represents a $2.70 annualized dividend and a yield of 4.52%. The ex-dividend date of this dividend was Tuesday, February 18th. Black Hills’s dividend payout ratio is 68.88%.

Wall Street Analysts Forecast Growth

Separately, Scotiabank reduced their price objective on Black Hills from $67.00 to $66.00 and set a “sector perform” rating on the stock in a research note 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.