JPMorgan Chase & Co. grew its position in Black Hills Co. (NYSE:BKH - Free Report) by 34.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 551,414 shares of the utilities provider's stock after acquiring an additional 142,537 shares during the quarter. JPMorgan Chase & Co. owned about 0.77% of Black Hills worth $32,269,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of BKH. Smartleaf Asset Management LLC increased its holdings in shares of Black Hills by 66.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 432 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 173 shares during the period. Larson Financial Group LLC raised its position in Black Hills by 182.8% during the 4th quarter. Larson Financial Group LLC now owns 461 shares of the utilities provider's stock worth $27,000 after buying an additional 298 shares during the last quarter. Versant Capital Management Inc boosted its holdings in Black Hills by 181.5% in the 4th 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 in the last quarter. Global Retirement Partners LLC raised its stake in shares of Black Hills by 373.2% during the 4th quarter. Global Retirement Partners LLC now owns 530 shares of the utilities provider's stock worth $31,000 after buying an additional 418 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of Black Hills by 83.3% in the 4th quarter. UMB Bank n.a. now owns 625 shares of the utilities provider's stock valued at $37,000 after buying an additional 284 shares during the period. 86.71% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Separately, Scotiabank cut 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.
View Our Latest Research Report on BKH
Black Hills Price Performance
Shares of BKH stock traded up $0.14 during midday trading on Friday, reaching $58.39. 494,986 shares of the company traded hands, compared to its average volume of 457,556. The firm has a market cap of $4.21 billion, a PE 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. The firm's 50 day simple moving average is $59.67 and its two-hundred day simple moving average is $59.92. Black Hills Co. has a 1-year low of $50.73 and a 1-year high of $65.59.
Black Hills (NYSE:BKH - Get Free Report) last posted 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 return on equity of 7.82% and a net margin of 12.84%. On average, equities research analysts expect that Black Hills Co. will post 4.12 EPS for the current fiscal year.
Black Hills Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, February 18th were given a dividend of $0.676 per share. 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 boost from Black Hills's previous quarterly dividend of $0.65. Black Hills's payout ratio is presently 68.88%.
Black Hills Profile
(
Free Report)
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.
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