Black Hills Co. (NYSE:BKH) Shares Acquired by Congress Asset Management Co.

Congress Asset Management Co. grew its stake in Black Hills Co. (NYSE:BKH - Free Report) by 9.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 98,413 shares of the utilities provider's stock after purchasing an additional 8,365 shares during the period. Congress Asset Management Co. owned approximately 0.14% of Black Hills worth $5,759,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Versant Capital Management Inc increased its holdings in shares of Black Hills by 181.5% in the fourth 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 during the period. Blue Trust Inc. increased its holdings in shares of Black Hills by 84.9% in the third quarter. Blue Trust Inc. now owns 577 shares of the utilities provider's stock valued at $35,000 after purchasing an additional 265 shares during the period. UMB Bank n.a. increased its holdings in shares of Black Hills by 83.3% in the fourth quarter. UMB Bank n.a. now owns 625 shares of the utilities provider's stock valued at $37,000 after purchasing an additional 284 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of Black Hills in the third quarter valued at approximately $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.

Black Hills Price Performance

Black Hills stock traded up $0.83 during trading hours on Friday, hitting $59.65. The stock had a trading volume of 450,536 shares, compared to its average volume of 467,375. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.97 and a quick ratio of 0.77. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 2.73 and a beta of 0.73. Black Hills Co. has a 1-year low of $50.72 and a 1-year high of $65.59. The stock's fifty day moving average is $58.56 and its two-hundred day moving average is $59.75.

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Black Hills (NYSE:BKH - Get Free Report) last posted its earnings results on Wednesday, February 5th. The utilities provider reported $1.37 earnings per share 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%. As a group, analysts predict that Black Hills Co. will post 4.12 earnings per share for the current fiscal year.

Black Hills Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, February 18th will be paid a dividend of $0.676 per share. The ex-dividend date is Tuesday, February 18th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.53%. This is a positive change from Black Hills's previous quarterly dividend of $0.65. Black Hills's dividend payout ratio (DPR) is presently 68.88%.

Analyst Upgrades and Downgrades

Separately, Scotiabank dropped their price objective on Black Hills from $67.00 to $66.00 and set a "sector perform" rating on the stock in a 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.