Great Lakes Advisors LLC Invests $10.49 Million in Black Hills Co. (NYSE:BKH)

Great Lakes Advisors LLC purchased a new position in Black Hills Co. (NYSE:BKH) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 179,258 shares of the utilities provider’s stock, valued at approximately $10,490,000. Great Lakes Advisors LLC owned 0.25% of Black Hills as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its holdings in shares of Black Hills by 66.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 432 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 173 shares during the period. Larson Financial Group LLC increased its holdings in shares of Black Hills by 182.8% in 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. Versant Capital Management Inc increased its holdings in shares of Black Hills by 181.5% in the fourth quarter. Versant Capital Management Inc now owns 473 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 305 shares during the period. Global Retirement Partners LLC increased its holdings in shares of Black Hills by 373.2% in the fourth quarter. Global Retirement Partners LLC now owns 530 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 418 shares during the period. Finally, UMB Bank n.a. increased its holdings in shares of Black Hills by 83.3% in the fourth quarter. UMB Bank n.a. now owns 625 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 284 shares during the period. Institutional investors own 86.71% of the company’s stock.

Black Hills Stock Down 2.2 %

Shares of NYSE:BKH opened at $59.03 on Thursday. Black Hills Co. has a 52-week low of $50.72 and a 52-week high of $65.59. The firm has a fifty day moving average of $58.95 and a 200 day moving average of $60.02. The firm has a market capitalization of $4.23 billion, a PE ratio of 15.06, a price-to-earnings-growth ratio of 2.75 and a beta of 0.68. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.77 and a current ratio of 0.97.

Black Hills (NYSE:BKH) last announced its earnings results on Wednesday, February 5th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.17. Black Hills had a net margin of 12.84% and a return on equity of 7.82%. As a group, research analysts anticipate that Black Hills Co. will post 4.12 EPS for the current fiscal year.

Black Hills Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, February 18th were given a dividend of $0.676 per share. This represents a $2.70 annualized dividend and a yield of 4.58%. This is a positive change from Black Hills’s previous quarterly dividend of $0.65. The ex-dividend date was Tuesday, February 18th. Black Hills’s dividend payout ratio is presently 68.88%.

Analysts Set New Price Targets

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

Black Hills Company 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.