Hsbc Holdings PLC Boosts Position in Black Hills Co. (NYSE:BKH)

Hsbc Holdings PLC increased its holdings in Black Hills Co. (NYSE:BKH - Free Report) by 34.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,224 shares of the utilities provider's stock after purchasing an additional 26,487 shares during the period. Hsbc Holdings PLC owned 0.15% of Black Hills worth $6,084,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BKH. Smartleaf Asset Management LLC boosted its position in shares of Black Hills by 66.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 432 shares of the utilities provider's stock worth $25,000 after acquiring an additional 173 shares during the last quarter. Larson Financial Group LLC lifted its stake in Black Hills by 182.8% in the 4th quarter. Larson Financial Group LLC now owns 461 shares of the utilities provider's stock worth $27,000 after purchasing an additional 298 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of Black Hills by 181.5% during the 4th quarter. Versant Capital Management Inc now owns 473 shares of the utilities provider's stock valued at $28,000 after purchasing an additional 305 shares during the last quarter. Global Retirement Partners LLC grew its position in shares of Black Hills by 373.2% during the fourth quarter. Global Retirement Partners LLC now owns 530 shares of the utilities provider's stock valued at $31,000 after purchasing an additional 418 shares in the last quarter. 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 last quarter. 86.71% of the stock is currently owned by institutional investors.

Black Hills Price Performance

BKH stock traded up $0.53 during trading on Friday, hitting $61.28. 244,104 shares of the company's stock traded hands, compared to its average volume of 452,486. The business has a fifty day simple moving average of $59.92 and a 200 day simple moving average of $59.94. Black Hills Co. has a 52 week low of $51.66 and a 52 week high of $65.59. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.77 and a current ratio of 0.97. The stock has a market capitalization of $4.42 billion, a price-to-earnings ratio of 15.63, a P/E/G ratio of 2.75 and a beta of 0.64.

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

Black Hills Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Friday, May 16th will be paid a dividend of $0.676 per share. This represents a $2.70 annualized dividend and a yield of 4.41%. The ex-dividend date is Friday, May 16th. Black Hills's payout ratio is 68.88%.

Analysts Set New Price Targets

Separately, Scotiabank cut 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.

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.