Townsquare Capital LLC Takes $364,000 Position in Black Hills Co. (NYSE:BKH)

Townsquare Capital LLC purchased a new position in Black Hills Co. (NYSE:BKH - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,226 shares of the utilities provider's stock, valued at approximately $364,000.

Several other large investors have also added to or reduced their stakes in the stock. Sterling Capital Management LLC lifted its stake in shares of Black Hills by 17.9% in the 4th quarter. Sterling Capital Management LLC now owns 13,292 shares of the utilities provider's stock valued at $778,000 after purchasing an additional 2,016 shares during the period. Covestor Ltd boosted its holdings in shares of Black Hills by 1,033.3% during the 4th quarter. Covestor Ltd now owns 3,604 shares of the utilities provider's stock valued at $211,000 after buying an additional 3,286 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Black Hills during the 4th quarter valued at $8,413,000. Greenland Capital Management LP purchased a new stake in shares of Black Hills in the 4th quarter worth about $1,840,000. Finally, Invesco Ltd. increased its stake in shares of Black Hills by 5.7% in the 4th quarter. Invesco Ltd. now owns 831,156 shares of the utilities provider's stock worth $48,639,000 after acquiring an additional 44,515 shares in the last quarter. Institutional investors own 86.71% of the company's stock.

Black Hills Stock Down 0.5 %

Shares of BKH traded down $0.29 during trading hours on Friday, hitting $60.26. The company had a trading volume of 156,077 shares, compared to its average volume of 455,896. Black Hills Co. has a 52-week low of $51.66 and a 52-week high of $65.59. The firm has a fifty day moving average price of $59.75 and a 200-day moving average price of $59.91. The stock has a market capitalization of $4.34 billion, a price-to-earnings ratio of 15.36, a P/E/G ratio of 2.75 and a beta of 0.64. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.77 and a current ratio of 0.97.

Black Hills (NYSE:BKH - Get Free Report) last posted 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 net margin of 12.84% and a return on equity of 7.82%. On average, equities research analysts forecast that Black Hills Co. will post 4.12 EPS for the current fiscal year.

Black Hills Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Friday, May 16th will be given a $0.676 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date is Friday, May 16th. Black Hills's dividend payout ratio (DPR) is 68.88%.

Wall Street Analyst Weigh In

Separately, Scotiabank cut their price objective on shares of Black Hills from $67.00 to $66.00 and set a "sector perform" rating on the stock 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.