Kingsview Wealth Management LLC Invests $3.45 Million in Black Hills Co. (NYSE:BKH)

Kingsview Wealth Management LLC bought a new position in shares of Black Hills Co. (NYSE:BKH - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 58,903 shares of the utilities provider's stock, valued at approximately $3,447,000. Kingsview Wealth Management LLC owned about 0.08% of Black Hills at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its holdings in shares of Black Hills by 2.1% during the third quarter. Geode Capital Management LLC now owns 1,663,157 shares of the utilities provider's stock worth $101,671,000 after buying an additional 33,853 shares in the last quarter. Zimmer Partners LP acquired a new position in shares of Black Hills during the third quarter worth $96,374,000. Franklin Resources Inc. increased its holdings in shares of Black Hills by 109.8% during the third 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 in the last quarter. Barclays PLC increased its holdings in shares of Black Hills by 4.5% during the third quarter. Barclays PLC now owns 500,826 shares of the utilities provider's stock worth $30,610,000 after buying an additional 21,697 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Black Hills by 16.0% during the third quarter. JPMorgan Chase & Co. now owns 408,877 shares of the utilities provider's stock worth $24,991,000 after buying an additional 56,440 shares in the last quarter. 86.71% of the stock is currently owned by institutional investors.

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Black Hills Trading Up 0.4 %

NYSE BKH traded up $0.26 on Thursday, reaching $60.36. The company had a trading volume of 352,908 shares, compared to its average volume of 465,676. The firm has a market cap of $4.32 billion, a price-to-earnings ratio of 15.40, a P/E/G ratio of 4.30 and a beta of 0.73. Black Hills Co. has a fifty-two week low of $50.72 and a fifty-two week high of $65.59. The business has a 50 day moving average of $58.79 and a two-hundred day moving average of $59.71. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.12 and a quick ratio of 0.83.

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 for the quarter, beating analysts' consensus estimates of $1.20 by $0.17. Black Hills had a return on equity of 7.88% and a net margin of 12.84%. Analysts forecast that Black Hills Co. will post 4.13 EPS for the current year.

Black Hills Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, February 18th will be given a dividend of $0.676 per share. The ex-dividend date is Tuesday, February 18th. This represents a $2.70 dividend on an annualized basis and a yield of 4.48%. This is a boost from Black Hills's previous quarterly dividend of $0.65. Black Hills's dividend payout ratio is 66.33%.

Analyst Upgrades and Downgrades

Separately, Scotiabank lowered 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.