Black Hills Co. (NYSE:BKH) Shares Purchased by Wells Fargo & Company MN

Wells Fargo & Company MN grew its position in Black Hills Co. (NYSE:BKH - Free Report) by 17.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,199 shares of the utilities provider's stock after acquiring an additional 9,725 shares during the period. Wells Fargo & Company MN owned about 0.09% of Black Hills worth $3,815,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in BKH. Vanguard Group Inc. boosted its holdings in Black Hills by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 8,602,223 shares of the utilities provider's stock valued at $503,402,000 after purchasing an additional 37,790 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Black Hills by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 1,698,234 shares of the utilities provider's stock worth $99,402,000 after buying an additional 35,077 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Black Hills by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,225,653 shares of the utilities provider's stock worth $71,725,000 after buying an additional 39,369 shares during the period. Franklin Resources Inc. increased its holdings in Black Hills by 1.7% in the fourth quarter. Franklin Resources Inc. now owns 897,245 shares of the utilities provider's stock valued at $52,507,000 after buying an additional 14,599 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Black Hills by 19.3% during the 4th quarter. Victory Capital Management Inc. now owns 551,582 shares of the utilities provider's stock valued at $32,279,000 after acquiring an additional 89,181 shares during the period. 86.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Black Hills Price Performance

NYSE:BKH traded down $0.32 during mid-day trading on Friday, hitting $60.23. 284,241 shares of the company's stock traded hands, compared to its average volume of 456,431. 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 company has a market cap of $4.34 billion, a PE ratio of 15.36, a price-to-earnings-growth ratio of 2.75 and a beta of 0.64. The firm's 50 day simple moving average is $59.77 and its 200 day simple moving average is $59.92. 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 issued its quarterly earnings data on Wednesday, February 5th. The utilities provider reported $1.37 earnings per share for the quarter, topping 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%. Sell-side analysts expect that Black Hills Co. will post 4.12 EPS for the current year.

Black Hills Announces Dividend

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