Navellier & Associates Inc. Invests $591,000 in Black Hills Co. (NYSE:BKH)

Navellier & Associates Inc. bought a new position in shares of Black Hills Co. (NYSE:BKH - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 10,104 shares of the utilities provider's stock, valued at approximately $591,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Ieq Capital LLC purchased a new position in Black Hills in the fourth quarter worth approximately $643,000. Private Advisor Group LLC raised its holdings in shares of Black Hills by 74.2% in the 4th quarter. Private Advisor Group LLC now owns 6,975 shares of the utilities provider's stock valued at $408,000 after purchasing an additional 2,971 shares in the last quarter. Global Retirement Partners LLC lifted its position 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 purchasing an additional 418 shares during the last quarter. Convergence Investment Partners LLC grew its stake in shares of Black Hills by 7.7% during the fourth quarter. Convergence Investment Partners LLC now owns 24,070 shares of the utilities provider's stock worth $1,409,000 after purchasing an additional 1,730 shares in the last quarter. Finally, Kestra Investment Management LLC purchased a new position in Black Hills in the fourth quarter valued at $784,000. 86.71% of the stock is currently owned by institutional investors and hedge funds.

Black Hills Stock Performance

Shares of NYSE BKH traded up $0.62 during trading hours on Wednesday, reaching $60.27. The stock had a trading volume of 639,058 shares, compared to its average volume of 470,637. The company has a current ratio of 0.97, a quick ratio of 0.77 and a debt-to-equity ratio of 1.19. Black Hills Co. has a fifty-two week low of $50.72 and a fifty-two week high of $65.59. The firm has a 50-day moving average of $58.54 and a 200-day moving average of $59.82. The firm has a market cap of $4.32 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 2.75 and a beta of 0.73.

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Black Hills (NYSE:BKH - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The utilities provider reported $1.37 EPS for the quarter, beating 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%. Equities research analysts predict that Black Hills Co. will post 4.12 earnings per share for the current year.

Black Hills Increases Dividend

The business also recently disclosed 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. This represents a $2.70 dividend on an annualized basis and a yield of 4.49%. This is a boost from Black Hills's previous quarterly dividend of $0.65. The ex-dividend date is Tuesday, February 18th. Black Hills's dividend payout ratio (DPR) is presently 68.88%.

Analysts Set New Price Targets

Separately, Scotiabank decreased their price target on Black Hills from $67.00 to $66.00 and set a "sector perform" rating for the company in a report on Friday, February 7th.

About Black Hills

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.