Capital Research Global Investors Has $107.98 Million Holdings in Black Hills Co. (NYSE:BKH)

Capital Research Global Investors grew its holdings in Black Hills Co. (NYSE:BKH) by 21.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,845,088 shares of the utilities provider’s stock after buying an additional 326,959 shares during the period. Capital Research Global Investors’ holdings in Black Hills were worth $107,975,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in BKH. Dimensional Fund Advisors LP increased its stake in Black Hills by 3.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,037,622 shares of the utilities provider’s stock valued at $60,721,000 after buying an additional 37,487 shares during the period. First Trust Advisors LP grew its holdings in shares of Black Hills by 309.5% during the 4th quarter. First Trust Advisors LP now owns 953,431 shares of the utilities provider’s stock valued at $55,795,000 after acquiring an additional 720,628 shares in the last quarter. Farringdon Capital Ltd. acquired a new position in shares of Black Hills in the fourth quarter worth $307,000. NewEdge Advisors LLC raised its holdings in shares of Black Hills by 108.0% during the fourth quarter. NewEdge Advisors LLC now owns 1,826 shares of the utilities provider’s stock worth $107,000 after acquiring an additional 948 shares in the last quarter. Finally, Keeley Teton Advisors LLC boosted its position in Black Hills by 32.2% during the fourth quarter. Keeley Teton Advisors LLC now owns 101,404 shares of the utilities provider’s stock valued at $5,934,000 after purchasing an additional 24,725 shares during the last quarter. 86.71% of the stock is owned by hedge funds and other institutional investors.

Black Hills Price Performance

NYSE BKH opened at $60.52 on Monday. Black Hills Co. has a 1 year low of $51.66 and a 1 year high of $65.59. The company has a fifty day simple moving average of $59.71 and a 200 day simple moving average of $59.90. The company has a current ratio of 0.97, a quick ratio of 0.77 and a debt-to-equity ratio of 1.19. The company has a market cap of $4.36 billion, a P/E ratio of 15.44, a P/E/G ratio of 2.75 and a beta of 0.64.

Black Hills (NYSE:BKH) last posted its quarterly earnings data on Wednesday, February 5th. The utilities provider reported $1.37 EPS 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, sell-side analysts predict that Black Hills Co. will post 4.12 EPS for the current 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 issued a dividend of $0.676 per share. This is an increase from Black Hills’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $2.70 annualized dividend and a dividend yield of 4.47%. Black Hills’s payout ratio is presently 68.88%.

Wall Street Analysts Forecast Growth

Separately, Scotiabank reduced their price target on Black Hills from $67.00 to $66.00 and set a “sector perform” rating for the company 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.