ExodusPoint Capital Management LP Buys Shares of 67,427 Black Hills Co. (NYSE:BKH)

ExodusPoint Capital Management LP purchased a new stake in Black Hills Co. (NYSE:BKH - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 67,427 shares of the utilities provider's stock, valued at approximately $3,946,000. ExodusPoint Capital Management LP owned about 0.09% of Black Hills as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Franklin Resources Inc. raised its position 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 buying an additional 461,894 shares during the period. Great Lakes Advisors LLC acquired a new position in shares of Black Hills in the 4th quarter valued at about $10,490,000. Raymond James Financial Inc. purchased a new stake in shares of Black Hills during the 4th quarter worth about $8,413,000. JPMorgan Chase & Co. increased its position in Black Hills by 34.9% during 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 in the last quarter. Finally, Victory Capital Management Inc. increased its position in Black Hills by 19.3% during the 4th quarter. Victory Capital Management Inc. now owns 551,582 shares of the utilities provider's stock worth $32,279,000 after purchasing an additional 89,181 shares in the last quarter. 86.71% of the stock is owned by hedge funds and other institutional investors.

Black Hills Stock Up 0.2 %

Shares of NYSE BKH traded up $0.14 on Friday, hitting $58.39. The company had a trading volume of 494,986 shares, compared to its average volume of 457,556. The firm has a market capitalization of $4.21 billion, a P/E ratio of 14.89, 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 Co. has a 12-month low of $50.73 and a 12-month high of $65.59. The business has a 50 day moving average of $59.67 and a two-hundred day moving average of $59.92.

Black Hills (NYSE:BKH - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.17. Black Hills had a net margin of 12.84% and a return on equity of 7.82%. As a group, equities research analysts forecast that Black Hills Co. will post 4.12 earnings per share for the current fiscal year.

Black Hills Increases Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 4.63%. This is a positive change from Black Hills's previous quarterly dividend of $0.65. Black Hills's payout ratio is currently 68.88%.

Wall Street Analysts Forecast Growth

Separately, Scotiabank decreased their price objective on shares of Black Hills from $67.00 to $66.00 and set a "sector perform" rating for the company in a research note 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.