Kestra Investment Management LLC Takes $784,000 Position in Black Hills Co. (NYSE:BKH)

Kestra Investment Management LLC bought a new position in shares of 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 13,392 shares of the utilities provider's stock, valued at approximately $784,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Zimmer Partners LP acquired a new position in Black Hills during the third quarter valued at approximately $96,374,000. Franklin Resources Inc. lifted its holdings in shares of Black Hills by 109.8% during the 3rd quarter. Franklin Resources Inc. now owns 882,646 shares of the utilities provider's stock valued at $53,356,000 after acquiring an additional 461,894 shares in the last quarter. Invenomic Capital Management LP purchased a new stake in Black Hills during the 3rd quarter worth $8,260,000. SG Americas Securities LLC increased its holdings in Black Hills by 1,579.6% in the 4th quarter. SG Americas Securities LLC now owns 84,634 shares of the utilities provider's stock valued at $4,953,000 after purchasing an additional 79,595 shares in the last quarter. Finally, Kingsview Wealth Management LLC purchased a new position in Black Hills in the fourth quarter valued at about $3,447,000. Institutional investors and hedge funds own 86.71% of the company's stock.

Analyst Ratings Changes

Separately, Scotiabank decreased their target price 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.

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Black Hills Stock Up 1.4 %

Shares of NYSE BKH traded up $0.83 during trading on Friday, reaching $59.65. 450,536 shares of the stock were exchanged, compared to its average volume of 438,393. The business's 50-day moving average price is $58.56 and its 200 day moving average price is $59.76. The company has a market capitalization of $4.27 billion, a price-to-earnings ratio of 15.22, a price-to-earnings-growth ratio of 2.71 and a beta of 0.73. Black Hills Co. has a twelve month low of $50.72 and a twelve month high of $65.59. 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 (NYSE:BKH - Get Free Report) last issued its quarterly earnings data 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%. As a group, equities analysts forecast that Black Hills Co. will post 4.12 EPS for the current fiscal year.

Black Hills Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, February 18th will be paid a dividend of $0.676 per share. This represents a $2.70 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date of this dividend is Tuesday, February 18th. This is a positive change from Black Hills's previous quarterly dividend of $0.65. Black Hills's dividend payout ratio (DPR) is 68.88%.

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.