Phocas Financial Corp. Has $1.53 Million Stake in Black Hills Co. (NYSE:BKH)

Phocas Financial Corp. reduced its stake in Black Hills Co. (NYSE:BKH - Free Report) by 85.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,097 shares of the utilities provider's stock after selling 156,538 shares during the period. Black Hills makes up approximately 1.1% of Phocas Financial Corp.'s investment portfolio, making the stock its 22nd biggest position. Phocas Financial Corp.'s holdings in Black Hills were worth $1,527,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its stake in Black Hills by 181.5% during the fourth quarter. Versant Capital Management Inc now owns 473 shares of the utilities provider's stock worth $28,000 after purchasing an additional 305 shares during the last quarter. Global Retirement Partners LLC lifted its stake in Black Hills by 373.2% during the fourth 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. Blue Trust Inc. lifted its stake in Black Hills by 84.9% during the third quarter. Blue Trust Inc. now owns 577 shares of the utilities provider's stock worth $35,000 after purchasing an additional 265 shares during the last quarter. UMB Bank n.a. lifted its stake in Black Hills by 83.3% during the fourth quarter. UMB Bank n.a. now owns 625 shares of the utilities provider's stock worth $37,000 after purchasing an additional 284 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in Black Hills during the third quarter worth $45,000. 86.71% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

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

Black Hills Price Performance

Shares of BKH traded up $0.82 during trading hours on Friday, reaching $61.20. The stock had a trading volume of 578,204 shares, compared to its average volume of 476,464. Black Hills Co. has a 12 month low of $50.72 and a 12 month high of $65.59. The stock has a market capitalization of $4.38 billion, a PE ratio of 15.61, a PEG ratio of 2.75 and a beta of 0.73. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.77 and a current ratio of 0.97. The company's 50-day moving average is $58.70 and its two-hundred day moving average is $59.86.

Black Hills (NYSE:BKH - Get Free Report) last announced its quarterly earnings results 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 return on equity of 7.82% and a net margin of 12.84%. Research analysts expect that Black Hills Co. will post 4.12 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. Stockholders of record on Tuesday, February 18th will be paid a $0.676 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.42%. 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 is presently 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.