Capital Research Global Investors Grows Holdings in Black Hills Co. (NYSE:BKH)

Capital Research Global Investors lifted its position in Black Hills Co. (NYSE:BKH - Free Report) by 21.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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 owned approximately 2.58% of Black Hills worth $107,975,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Harbor Capital Advisors Inc. raised its position in shares of Black Hills by 4,751.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 16,154 shares of the utilities provider's stock valued at $945,000 after purchasing an additional 15,821 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Black Hills by 16.0% in the third quarter. JPMorgan Chase & Co. now owns 408,877 shares of the utilities provider's stock worth $24,991,000 after buying an additional 56,440 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of Black Hills by 181.5% during the fourth quarter. Versant Capital Management Inc now owns 473 shares of the utilities provider's stock worth $28,000 after buying an additional 305 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Black Hills during the fourth quarter worth $1,113,000. Finally, Franklin Resources Inc. grew its holdings in shares of Black Hills by 109.8% during the third quarter. Franklin Resources Inc. now owns 882,646 shares of the utilities provider's stock valued at $53,356,000 after buying an additional 461,894 shares during the last quarter. Institutional investors own 86.71% of the company's stock.

Black Hills Stock Performance

BKH traded down $0.32 during trading on Friday, reaching $60.23. 284,241 shares of the company's stock were exchanged, compared to its average volume of 456,431. The company's fifty day simple moving average is $59.77 and its 200-day simple moving average is $59.92. The stock has a market capitalization of $4.34 billion, a P/E ratio of 15.36, a price-to-earnings-growth ratio of 2.75 and a beta of 0.64. 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 Co. has a 1 year low of $51.66 and a 1 year high of $65.59.

Black Hills (NYSE:BKH - Get Free Report) last posted its earnings results on Wednesday, February 5th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 predict that Black Hills Co. will post 4.12 earnings per share for the current fiscal year.

Black Hills Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Friday, May 16th will be issued a $0.676 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date of this dividend is Friday, May 16th. Black Hills's payout ratio is presently 68.88%.

Wall Street Analyst Weigh In

Separately, Scotiabank lowered their price target 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 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.