Alta Capital Management LLC Purchases Shares of 50,805 Black Hills Co. (NYSE:BKH)

Alta Capital Management LLC purchased a new position in Black Hills Co. (NYSE:BKH - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 50,805 shares of the utilities provider's stock, valued at approximately $2,973,000. Alta Capital Management LLC owned approximately 0.07% of Black Hills as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Zimmer Partners LP acquired a new position in shares of Black Hills in the 3rd quarter worth approximately $96,374,000. Franklin Resources Inc. grew its position in Black Hills by 109.8% in the third quarter. Franklin Resources Inc. now owns 882,646 shares of the utilities provider's stock valued at $53,356,000 after acquiring an additional 461,894 shares during the period. Invenomic Capital Management LP acquired a new position in Black Hills during the third quarter worth $8,260,000. SG Americas Securities LLC lifted its holdings in shares of Black Hills by 1,579.6% during the fourth quarter. SG Americas Securities LLC now owns 84,634 shares of the utilities provider's stock valued at $4,953,000 after acquiring an additional 79,595 shares during the period. Finally, Kingsview Wealth Management LLC acquired a new stake in shares of Black Hills in the 4th quarter valued at $3,447,000. Institutional investors own 86.71% of the company's stock.

Black Hills Price Performance

BKH traded up $0.64 during trading on Friday, hitting $60.09. The company's stock had a trading volume of 622,361 shares, compared to its average volume of 480,908. 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 stock has a market capitalization of $4.30 billion, a price-to-earnings ratio of 15.33, a price-to-earnings-growth ratio of 2.75 and a beta of 0.68. The firm's 50 day moving average price is $58.84 and its two-hundred day moving average price is $59.94. Black Hills Co. has a 12 month low of $50.72 and a 12 month high of $65.59.

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Black Hills (NYSE:BKH - Get Free Report) last released 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 forecast that Black Hills Co. will post 4.12 earnings per share for the current fiscal year.

Black Hills Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, February 18th were given a $0.676 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $2.70 dividend on an annualized basis and a yield of 4.50%. This is an increase from Black Hills's previous quarterly dividend of $0.65. Black Hills's dividend payout ratio (DPR) is 68.88%.

Analyst Upgrades and Downgrades

Separately, Scotiabank dropped 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 research report on Friday, February 7th.

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.