Raymond James Financial Inc. acquired a new stake in Black Hills Co. (NYSE:BKH - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 143,772 shares of the utilities provider's stock, valued at approximately $8,413,000. Raymond James Financial Inc. owned 0.20% of Black Hills as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the company. Franklin Resources Inc. boosted its position 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 purchasing an additional 461,894 shares in the last quarter. Great Lakes Advisors LLC acquired a new stake in Black Hills during the fourth quarter valued at approximately $10,490,000. JPMorgan Chase & Co. boosted its holdings in Black Hills by 34.9% during the fourth quarter. JPMorgan Chase & Co. now owns 551,414 shares of the utilities provider's stock worth $32,269,000 after buying an additional 142,537 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Black Hills by 19.3% in the fourth quarter. Victory Capital Management Inc. now owns 551,582 shares of the utilities provider's stock valued at $32,279,000 after buying an additional 89,181 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Black Hills by 1,579.6% during the 4th quarter. SG Americas Securities LLC now owns 84,634 shares of the utilities provider's stock valued at $4,953,000 after acquiring an additional 79,595 shares during the last quarter. Institutional investors own 86.71% of the company's stock.
Black Hills Stock Performance
Shares of BKH opened at $60.70 on Wednesday. Black Hills Co. has a one year low of $51.66 and a one year high of $65.59. The company has a 50-day moving average of $59.71 and a two-hundred day moving average of $59.90. 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 stock has a market cap of $4.38 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 2.75 and a beta of 0.64.
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, topping the consensus estimate of $1.20 by $0.17. Black Hills had a net margin of 12.84% and a return on equity of 7.82%. On average, equities research analysts expect that Black Hills Co. will post 4.12 earnings per share for the current year.
Black Hills Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Friday, May 16th will be paid a $0.676 dividend. This represents a $2.70 annualized dividend and a yield of 4.45%. Black Hills's dividend payout ratio is currently 68.88%.
Analyst Upgrades and Downgrades
Separately, Scotiabank decreased their target price on Black Hills from $67.00 to $66.00 and set a "sector perform" rating on the stock in a report on Friday, February 7th.
Get Our Latest Research Report on BKH
About Black Hills
(
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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