US Bancorp DE Trims Position in Black Hills Co. (NYSE:BKH)

US Bancorp DE trimmed its holdings in Black Hills Co. (NYSE:BKH) by 4.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 11,934 shares of the utilities provider’s stock after selling 509 shares during the period. US Bancorp DE’s holdings in Black Hills were worth $698,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of BKH. Zimmer Partners LP acquired a new position in Black Hills in the 3rd quarter valued at about $96,374,000. Franklin Resources Inc. grew its stake in Black Hills by 109.8% during the 3rd quarter. Franklin Resources Inc. now owns 882,646 shares of the utilities provider’s stock worth $53,356,000 after purchasing an additional 461,894 shares in the last quarter. Invenomic Capital Management LP acquired a new position in Black Hills during the 3rd quarter worth $8,260,000. SG Americas Securities LLC grew its holdings in 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 worth $4,953,000 after acquiring an additional 79,595 shares in the last quarter. Finally, Kingsview Wealth Management LLC acquired a new stake in Black Hills in the fourth quarter valued at $3,447,000. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Black Hills Trading Up 0.4 %

Shares of Black Hills stock opened at $60.32 on Tuesday. The stock has a market cap of $4.32 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 2.75 and a beta of 0.68. The company has a current ratio of 0.97, a quick ratio of 0.77 and a debt-to-equity ratio of 1.19. Black Hills Co. has a 12-month low of $50.72 and a 12-month high of $65.59. The company has a 50-day moving average of $58.91 and a two-hundred day moving average of $60.01.

Black Hills (NYSE:BKH) last released its quarterly earnings results 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%. On average, research analysts anticipate that Black Hills Co. will post 4.12 EPS for the current fiscal year.

Black Hills Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.676 per share. The ex-dividend date was Tuesday, February 18th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.48%. This is an increase from Black Hills’s previous quarterly dividend of $0.65. Black Hills’s dividend payout ratio is currently 68.88%.

Analyst Ratings Changes

Separately, Scotiabank lowered their target price on shares of Black Hills from $67.00 to $66.00 and set a “sector perform” rating on the stock in a research 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.