Greenland Capital Management LP Takes Position in Black Hills Co. (NYSE:BKH)

Greenland Capital Management LP bought a new position in Black Hills Co. (NYSE:BKH - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 31,450 shares of the utilities provider's stock, valued at approximately $1,840,000.

Other large investors have also recently bought and sold shares of the company. FMR LLC raised its stake in shares of Black Hills by 8.3% during the third quarter. FMR LLC now owns 117,828 shares of the utilities provider's stock valued at $7,202,000 after acquiring an additional 9,002 shares during the last quarter. Captrust Financial Advisors increased its holdings in Black Hills by 5.8% in the third quarter. Captrust Financial Advisors now owns 5,904 shares of the utilities provider's stock valued at $361,000 after purchasing an additional 325 shares during the period. HighTower Advisors LLC raised its position in Black Hills by 19.3% during the 3rd quarter. HighTower Advisors LLC now owns 102,335 shares of the utilities provider's stock worth $6,257,000 after purchasing an additional 16,522 shares during the last quarter. Point72 DIFC Ltd acquired a new position in Black Hills during the 3rd quarter worth about $82,000. Finally, Quantinno Capital Management LP bought a new stake in shares of Black Hills in the 3rd quarter valued at about $275,000. 86.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Scotiabank lowered their price objective on 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 Trading Up 0.2 %

Shares of BKH traded up $0.14 during trading hours on Friday, hitting $58.39. 494,986 shares of the stock were exchanged, compared to its average volume of 458,038. Black Hills Co. has a fifty-two week low of $50.73 and a fifty-two week high of $65.59. The business has a 50-day moving average of $59.67 and a 200-day moving average of $59.91. The firm has a market capitalization of $4.21 billion, a P/E ratio of 14.89, a price-to-earnings-growth ratio of 2.75 and a beta of 0.64. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.97 and a quick ratio of 0.77.

Black Hills (NYSE:BKH - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The utilities provider reported $1.37 earnings per share for the quarter, topping analysts' consensus estimates of $1.20 by $0.17. Black Hills had a return on equity of 7.82% and a net margin of 12.84%. On average, research analysts expect that Black Hills Co. will post 4.12 EPS for the current year.

Black Hills Increases Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 4.63%. This is a boost from Black Hills's previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Tuesday, February 18th. Black Hills's dividend payout ratio is presently 68.88%.

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.