Dynamic Technology Lab Private Ltd Acquires New Holdings in Black Hills Co. (NYSE:BKH)

Dynamic Technology Lab Private Ltd bought a new position in Black Hills Co. (NYSE:BKH - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 17,549 shares of the utilities provider's stock, valued at approximately $1,027,000.

Several other large investors have also recently modified their holdings of BKH. Zimmer Partners LP purchased a new position in Black Hills during the third quarter worth $96,374,000. Franklin Resources Inc. lifted its holdings in shares of Black Hills by 109.8% in the 3rd quarter. Franklin Resources Inc. now owns 882,646 shares of the utilities provider's stock worth $53,356,000 after acquiring an additional 461,894 shares during the last quarter. Great Lakes Advisors LLC purchased a new position in shares of Black Hills during the 4th quarter worth about $10,490,000. Raymond James Financial Inc. bought a new position in Black Hills during the 4th quarter valued at about $8,413,000. Finally, JPMorgan Chase & Co. raised its position in Black Hills by 34.9% in the 4th quarter. JPMorgan Chase & Co. now owns 551,414 shares of the utilities provider's stock worth $32,269,000 after purchasing an additional 142,537 shares during the period. Institutional investors own 86.71% of the company's stock.

Black Hills Trading Down 1.0 %

Shares of NYSE BKH traded down $0.61 during mid-day trading on Friday, reaching $57.64. The company had a trading volume of 115,687 shares, compared to its average volume of 455,930. The stock has a market cap of $4.16 billion, a price-to-earnings ratio of 14.71, a price-to-earnings-growth ratio of 2.75 and a beta of 0.64. Black Hills Co. has a 52 week low of $50.73 and a 52 week high of $65.59. The business's 50-day moving average is $59.69 and its 200-day moving average is $59.94. 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 - Get Free Report) last issued its earnings results on Wednesday, February 5th. The utilities provider reported $1.37 EPS for the quarter, topping analysts' consensus estimates of $1.20 by $0.17. Black Hills had a net margin of 12.84% and a return on equity of 7.82%. Equities analysts expect that Black Hills Co. will post 4.12 earnings per share for the current year.

Black Hills Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, February 18th were issued a dividend of $0.676 per share. This represents a $2.70 annualized dividend and a yield of 4.69%. This is a positive change from Black Hills's previous quarterly dividend of $0.65. The ex-dividend date was Tuesday, February 18th. Black Hills's dividend payout ratio (DPR) is presently 68.88%.

Wall Street Analyst Weigh In

Separately, Scotiabank cut their target price 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.