Proficio Capital Partners LLC Takes $1.11 Million Position in Black Hills Co. (NYSE:BKH)

Proficio Capital Partners LLC acquired a new stake in shares of Black Hills Co. (NYSE:BKH) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 19,019 shares of the utilities provider’s stock, valued at approximately $1,113,000.

Other institutional investors also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue boosted its holdings in Black Hills by 3.4% in the fourth quarter. State of Alaska Department of Revenue now owns 8,162 shares of the utilities provider’s stock worth $477,000 after acquiring an additional 270 shares in the last quarter. UMB Bank n.a. raised its position in Black Hills by 83.3% during the fourth quarter. UMB Bank n.a. now owns 625 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 284 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in Black Hills by 2.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 14,522 shares of the utilities provider’s stock valued at $850,000 after acquiring an additional 300 shares in the last quarter. Versant Capital Management Inc raised its position in Black Hills by 181.5% during the fourth quarter. Versant Capital Management Inc now owns 473 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 305 shares in the last quarter. Finally, Captrust Financial Advisors increased its position in shares of Black Hills by 5.8% in the third quarter. Captrust Financial Advisors now owns 5,904 shares of the utilities provider’s stock valued at $361,000 after buying an additional 325 shares in the last quarter. Institutional investors own 86.71% of the company’s stock.

Analyst Ratings Changes

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

Black Hills Stock Performance

Shares of NYSE:BKH opened at $60.09 on Friday. The business’s 50 day moving average price is $58.84 and its 200-day moving average price is $59.94. The firm has a market capitalization of $4.30 billion, a PE ratio of 15.33, a P/E/G ratio of 2.75 and a beta of 0.68. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.97 and a quick ratio of 0.77. Black Hills Co. has a 1 year low of $50.72 and a 1 year high of $65.59.

Black Hills (NYSE:BKH) last released its quarterly earnings data on Wednesday, February 5th. The utilities provider reported $1.37 earnings per share for the quarter, topping 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%. As a group, equities research analysts expect that Black Hills Co. will post 4.12 earnings per share for the current fiscal year.

Black Hills Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, February 18th were paid a $0.676 dividend. This represents a $2.70 annualized dividend and a dividend yield of 4.50%. The ex-dividend date of this dividend was Tuesday, February 18th. This is a positive change from Black Hills’s previous quarterly dividend of $0.65. Black Hills’s dividend payout ratio is 68.88%.

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.