Farringdon Capital Ltd. Acquires Shares of 5,254 Black Hills Co. (NYSE:BKH)

Farringdon Capital Ltd. bought a new stake in Black Hills Co. (NYSE:BKH) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 5,254 shares of the utilities provider’s stock, valued at approximately $307,000.

Several other large investors have also modified their holdings of BKH. Smartleaf Asset Management LLC raised its stake in Black Hills by 66.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 432 shares of the utilities provider’s stock valued at $25,000 after buying an additional 173 shares in the last quarter. Barnett & Company Inc. increased its stake in Black Hills by 2.7% during the fourth quarter. Barnett & Company Inc. now owns 7,500 shares of the utilities provider’s stock valued at $439,000 after purchasing an additional 200 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Black Hills by 8.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,919 shares of the utilities provider’s stock worth $171,000 after purchasing an additional 222 shares during the period. Assetmark Inc. boosted its holdings in shares of Black Hills by 4.1% in the 4th quarter. Assetmark Inc. now owns 6,716 shares of the utilities provider’s stock valued at $393,000 after buying an additional 263 shares during the period. Finally, State of Alaska Department of Revenue grew its position in shares of Black Hills by 3.4% during the 4th quarter. State of Alaska Department of Revenue now owns 8,162 shares of the utilities provider’s stock valued at $477,000 after buying an additional 270 shares during the last quarter. Institutional investors own 86.71% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Black Hills Trading Up 0.8 %

Black Hills stock opened at $60.52 on Friday. The firm has a 50-day moving average price of $59.71 and a two-hundred day moving average price of $59.90. Black Hills Co. has a 52-week low of $51.66 and a 52-week high of $65.59. The firm has a market capitalization of $4.36 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 2.75 and a beta of 0.64. The company has a quick ratio of 0.77, a current ratio of 0.97 and a debt-to-equity ratio of 1.19.

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%. 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. Stockholders of record on Tuesday, February 18th were issued a $0.676 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This is a boost from Black Hills’s previous quarterly dividend of $0.65. This represents a $2.70 annualized dividend and a dividend yield of 4.47%. Black Hills’s dividend payout ratio (DPR) is 68.88%.

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.