Invenomic Capital Management LP Buys 11,020 Shares of Black Hills Co. (NYSE:BKH)

Invenomic Capital Management LP increased its stake in shares of Black Hills Co. (NYSE:BKH) by 8.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 146,171 shares of the utilities provider’s stock after acquiring an additional 11,020 shares during the quarter. Invenomic Capital Management LP’s holdings in Black Hills were worth $8,554,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of BKH. Smartleaf Asset Management LLC raised its stake in Black Hills by 66.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 432 shares of the utilities provider’s stock worth $25,000 after buying an additional 173 shares during the period. Larson Financial Group LLC raised its position in shares of Black Hills by 182.8% during the fourth quarter. Larson Financial Group LLC now owns 461 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 298 shares during the period. Global Retirement Partners LLC lifted its holdings in shares of Black Hills by 373.2% in the 4th quarter. Global Retirement Partners LLC now owns 530 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 418 shares in the last quarter. UMB Bank n.a. grew its position in Black Hills by 83.3% in the 4th quarter. UMB Bank n.a. now owns 625 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 284 shares during the period. Finally, Quarry LP increased its stake in Black Hills by 1,159.7% during the 4th quarter. Quarry LP now owns 781 shares of the utilities provider’s stock valued at $46,000 after purchasing an additional 719 shares in the last quarter. 86.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Black Hills Stock Down 0.6 %

Shares of NYSE:BKH opened at $58.49 on Friday. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 2.75 and a beta of 0.74. The business’s 50 day moving average is $59.87 and its 200 day moving average is $59.92. Black Hills Co. has a 12-month low of $51.66 and a 12-month high of $65.59. The company has a quick ratio of 0.77, a current ratio of 0.97 and a debt-to-equity ratio of 1.19.

Black Hills (NYSE:BKH) last announced its earnings results on Wednesday, May 7th. The utilities provider reported $1.87 EPS for the quarter, missing the consensus estimate of $1.92 by ($0.05). Black Hills had a net margin of 12.84% and a return on equity of 7.82%. The firm had revenue of $805.20 million during the quarter, compared to analysts’ expectations of $729.73 million. During the same quarter in the prior year, the company earned $1.87 EPS. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, sell-side analysts forecast that Black Hills Co. will post 4.12 earnings per share 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. Stockholders of record on Friday, May 16th will be issued a $0.676 dividend. This represents a $2.70 annualized dividend and a dividend yield of 4.62%. The ex-dividend date is Friday, May 16th. Black Hills’s dividend payout ratio is presently 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.