Black Hills Co. (NYSE:BKH) Stake Boosted by Capital Research Global Investors

Capital Research Global Investors lifted its stake in shares of Black Hills Co. (NYSE:BKH) by 21.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,845,088 shares of the utilities provider’s stock after purchasing an additional 326,959 shares during the quarter. Capital Research Global Investors owned about 2.58% of Black Hills worth $107,975,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in BKH. Dimensional Fund Advisors LP boosted its holdings in shares of Black Hills by 3.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,037,622 shares of the utilities provider’s stock valued at $60,721,000 after acquiring an additional 37,487 shares during the period. First Trust Advisors LP lifted its position in Black Hills by 309.5% in the 4th quarter. First Trust Advisors LP now owns 953,431 shares of the utilities provider’s stock valued at $55,795,000 after purchasing an additional 720,628 shares during the last quarter. Farringdon Capital Ltd. acquired a new position in Black Hills during the 4th quarter valued at about $307,000. NewEdge Advisors LLC grew its position in Black Hills by 108.0% in the 4th quarter. NewEdge Advisors LLC now owns 1,826 shares of the utilities provider’s stock worth $107,000 after purchasing an additional 948 shares during the last quarter. Finally, Keeley Teton Advisors LLC increased its stake in shares of Black Hills by 32.2% in the fourth quarter. Keeley Teton Advisors LLC now owns 101,404 shares of the utilities provider’s stock valued at $5,934,000 after purchasing an additional 24,725 shares during the period. Institutional investors own 86.71% of the company’s stock.

Black Hills Stock Up 0.8 %

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

Black Hills (NYSE:BKH) last announced its earnings results on Wednesday, February 5th. The utilities provider reported $1.37 EPS for the quarter, topping 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, analysts expect that Black Hills Co. will post 4.12 EPS for the current fiscal year.

Black Hills Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, February 18th were issued a $0.676 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $2.70 annualized dividend and a dividend yield of 4.47%. This is a boost from Black Hills’s previous quarterly dividend of $0.65. Black Hills’s dividend payout ratio is currently 68.88%.

Wall Street Analyst Weigh In

Separately, Scotiabank decreased their price objective on 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 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.