Great Lakes Advisors LLC Takes $10.49 Million Position in Black Hills Co. (NYSE:BKH)

Great Lakes Advisors LLC acquired a new position in Black Hills Co. (NYSE:BKH - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 179,258 shares of the utilities provider's stock, valued at approximately $10,490,000. Great Lakes Advisors LLC owned 0.25% of Black Hills as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of BKH. EverSource Wealth Advisors LLC lifted its holdings in Black Hills by 8.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,919 shares of the utilities provider's stock valued at $171,000 after acquiring an additional 222 shares during the last quarter. HighTower Advisors LLC lifted its holdings in Black Hills by 42.1% in the 4th quarter. HighTower Advisors LLC now owns 145,424 shares of the utilities provider's stock valued at $8,510,000 after acquiring an additional 43,089 shares during the last quarter. Inspire Advisors LLC lifted its holdings in Black Hills by 28.8% in the 4th quarter. Inspire Advisors LLC now owns 35,563 shares of the utilities provider's stock valued at $2,081,000 after acquiring an additional 7,945 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Black Hills by 3.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,151 shares of the utilities provider's stock valued at $770,000 after acquiring an additional 380 shares during the last quarter. Finally, Larson Financial Group LLC lifted its holdings in Black Hills by 182.8% in the 4th quarter. Larson Financial Group LLC now owns 461 shares of the utilities provider's stock valued at $27,000 after acquiring an additional 298 shares during the last quarter. Institutional investors and hedge funds own 86.71% of the company's stock.

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Black Hills Trading Up 3.3 %

NYSE BKH traded up $1.97 on Friday, hitting $61.27. 464,729 shares of the company were exchanged, compared to its average volume of 485,437. The company's 50 day moving average price is $59.05 and its 200-day moving average price is $60.04. 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 firm has a market capitalization of $4.39 billion, a P/E ratio of 15.63, a price-to-earnings-growth ratio of 2.75 and a beta of 0.68. Black Hills Co. has a twelve month low of $50.72 and a twelve month high of $65.59.

Black Hills (NYSE:BKH - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The utilities provider reported $1.37 earnings per share (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%. 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 was paid on Saturday, March 1st. Shareholders 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 4.41%. The ex-dividend date of this dividend was Tuesday, February 18th. This is an increase from Black Hills's previous quarterly dividend of $0.65. Black Hills's payout ratio is presently 68.88%.

Wall Street Analysts Forecast Growth

Separately, Scotiabank cut their price target on shares of 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.