Black Hills Co. (NYSE:BKH) Shares Bought by Northern Trust Corp

Northern Trust Corp lifted its stake in shares of Black Hills Co. (NYSE:BKH - Free Report) by 11.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,016,477 shares of the utilities provider's stock after purchasing an additional 105,608 shares during the quarter. Northern Trust Corp owned about 1.42% of Black Hills worth $59,484,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. First Trust Advisors LP boosted its holdings in shares of Black Hills by 309.5% in the fourth 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. Franklin Resources Inc. boosted its holdings in Black Hills by 109.8% in the 3rd quarter. Franklin Resources Inc. now owns 882,646 shares of the utilities provider's stock valued at $53,356,000 after purchasing an additional 461,894 shares in the last quarter. Capital Research Global Investors increased its position in Black Hills by 21.5% during the 4th quarter. Capital Research Global Investors now owns 1,845,088 shares of the utilities provider's stock worth $107,975,000 after purchasing an additional 326,959 shares during the period. Great Lakes Advisors LLC purchased a new position in shares of Black Hills during the 4th quarter worth approximately $10,490,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Black Hills in the 4th quarter valued at approximately $8,413,000. 86.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Scotiabank cut their price objective on Black Hills from $67.00 to $66.00 and set a "sector perform" rating for the company in a research report on Friday, February 7th.

Black Hills Price Performance

Shares of NYSE BKH traded down $0.45 on Monday, hitting $58.07. The company's stock had a trading volume of 63,365 shares, compared to its average volume of 449,495. The stock has a 50 day moving average of $59.87 and a 200-day moving average of $59.92. The company has a market capitalization of $4.19 billion, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 2.75 and a beta of 0.74. Black Hills Co. has a 12-month low of $51.66 and a 12-month high of $65.59. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.97 and a quick ratio of 0.77.

Black Hills (NYSE:BKH - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $1.87 earnings per share for the quarter, missing the consensus estimate of $1.92 by ($0.05). The company had revenue of $805.20 million for the quarter, compared to analysts' expectations of $729.73 million. Black Hills had a return on equity of 7.82% and a net margin of 12.84%. The business's quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.87 EPS. As a group, research analysts predict that Black Hills Co. will post 4.12 EPS for the current year.

Black Hills Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Friday, May 16th will be issued a dividend of $0.676 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.70 annualized dividend and a dividend yield of 4.66%. Black Hills's payout ratio is 68.88%.

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.