UMB Bank n.a. Raises Stock Position in Black Hills Co. (NYSE:BKH)

UMB Bank n.a. increased its holdings in shares of Black Hills Co. (NYSE:BKH) by 83.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 625 shares of the utilities provider’s stock after purchasing an additional 284 shares during the period. UMB Bank n.a.’s holdings in Black Hills were worth $37,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in BKH. American Century Companies Inc. raised its holdings in shares of Black Hills by 89.3% during the 2nd quarter. American Century Companies Inc. now owns 20,962 shares of the utilities provider’s stock valued at $1,140,000 after buying an additional 9,886 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Black Hills by 8.8% during the second quarter. Dimensional Fund Advisors LP now owns 978,497 shares of the utilities provider’s stock valued at $53,210,000 after purchasing an additional 78,958 shares during the period. Intech Investment Management LLC acquired a new position in shares of Black Hills during the second quarter worth $259,000. Pacer Advisors Inc. boosted its stake in shares of Black Hills by 58.7% in the second quarter. Pacer Advisors Inc. now owns 16,070 shares of the utilities provider’s stock valued at $874,000 after purchasing an additional 5,943 shares during the period. Finally, Sei Investments Co. grew its holdings in Black Hills by 13.7% during the 2nd quarter. Sei Investments Co. now owns 16,004 shares of the utilities provider’s stock valued at $870,000 after purchasing an additional 1,929 shares in the last quarter. 86.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Scotiabank upped their price objective on shares of Black Hills from $63.00 to $67.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, Black Hills currently has a consensus rating of “Hold” and an average target price of $61.25.

Black Hills Stock Performance

Shares of BKH stock opened at $57.59 on Friday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.83 and a current ratio of 1.12. The stock has a market capitalization of $4.12 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 4.13 and a beta of 0.72. Black Hills Co. has a one year low of $49.33 and a one year high of $65.59. The company’s 50-day simple moving average is $59.91 and its 200-day simple moving average is $59.55.

Black Hills Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, February 18th will be paid a dividend of $0.676 per share. This is a boost from Black Hills’s previous quarterly dividend of $0.65. This represents a $2.70 annualized dividend and a yield of 4.70%. Black Hills’s dividend payout ratio (DPR) is 69.89%.

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.