Kingsview Wealth Management LLC Acquires Shares of 58,903 Black Hills Co. (NYSE:BKH)

Kingsview Wealth Management LLC bought a new stake in shares of Black Hills Co. (NYSE:BKH) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 58,903 shares of the utilities provider’s stock, valued at approximately $3,447,000. Kingsview Wealth Management LLC owned 0.08% of Black Hills as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Zimmer Partners LP bought a new stake in Black Hills during the third quarter worth about $96,374,000. Franklin Resources Inc. lifted its holdings in shares of Black Hills by 109.8% during the 3rd quarter. Franklin Resources Inc. now owns 882,646 shares of the utilities provider’s stock worth $53,356,000 after acquiring an additional 461,894 shares during the period. Invenomic Capital Management LP acquired a new stake in shares of Black Hills during the 3rd quarter worth approximately $8,260,000. SG Americas Securities LLC increased its stake in Black Hills by 1,579.6% in the fourth quarter. SG Americas Securities LLC now owns 84,634 shares of the utilities provider’s stock valued at $4,953,000 after acquiring an additional 79,595 shares during the last quarter. Finally, Paradiem LLC acquired a new position in Black Hills during the fourth quarter valued at approximately $3,357,000. 86.71% of the stock is owned by institutional investors and hedge funds.

Black Hills Trading Down 0.7 %

BKH opened at $59.46 on Monday. The company’s 50 day moving average is $59.02 and its 200-day moving average is $59.68. The company has a market cap of $4.26 billion, a P/E ratio of 15.17, a PEG ratio of 4.30 and a beta of 0.73. Black Hills Co. has a 1-year low of $49.50 and a 1-year high of $65.59. The company has a current ratio of 1.12, a quick ratio of 0.83 and a debt-to-equity ratio of 1.20.

Black Hills (NYSE:BKH) last posted its earnings results 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 7.88%. Equities research analysts predict that Black Hills Co. will post 4.13 earnings per share for the current fiscal year.

Black Hills Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.676 per share. This is a boost from Black Hills’s previous quarterly dividend of $0.65. This represents a $2.70 annualized dividend and a dividend yield of 4.55%. The ex-dividend date of this dividend is Tuesday, February 18th. Black Hills’s payout ratio is 66.33%.

Analyst Ratings Changes

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

About Black Hills

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.