Black Hills Co. (NYSE:BKH) Shares Sold by Platform Technology Partners

Platform Technology Partners decreased its holdings in Black Hills Co. (NYSE:BKH) by 3.1% in the 4th quarter, HoldingsChannel reports. The firm owned 5,908 shares of the utilities provider’s stock after selling 187 shares during the quarter. Platform Technology Partners’ holdings in Black Hills were worth $346,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. CWM LLC boosted its position in Black Hills by 37.3% in the 3rd quarter. CWM LLC now owns 6,386 shares of the utilities provider’s stock valued at $390,000 after buying an additional 1,736 shares during the period. Code Waechter LLC purchased a new position in Black Hills in the third quarter valued at $403,000. Inspire Investing LLC grew its stake in Black Hills by 4.1% during the 3rd quarter. Inspire Investing LLC now owns 6,741 shares of the utilities provider’s stock worth $412,000 after purchasing an additional 266 shares in the last quarter. Creative Planning increased its holdings in Black Hills by 4.1% during the 3rd quarter. Creative Planning now owns 24,537 shares of the utilities provider’s stock worth $1,500,000 after purchasing an additional 966 shares during the period. Finally, SeaCrest Wealth Management LLC purchased a new position in shares of Black Hills in the 3rd quarter valued at about $221,000. Institutional investors and hedge funds own 86.71% of the company’s stock.

Black Hills Stock Performance

NYSE:BKH opened at $59.46 on Friday. Black Hills Co. has a 12 month low of $49.50 and a 12 month high of $65.59. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.12 and a quick ratio of 0.83. The firm has a market capitalization of $4.26 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 4.21 and a beta of 0.73. The business’s fifty day moving average price is $59.02 and its 200 day moving average price is $59.66.

Black Hills (NYSE:BKH) last released its quarterly earnings data on Wednesday, February 5th. The utilities provider reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.17. Black Hills had a return on equity of 7.43% and a net margin of 12.00%. On average, sell-side analysts anticipate that Black Hills Co. will post 3.86 earnings per share for the current fiscal year.

Black Hills Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.676 per share. 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. This is an increase from Black Hills’s previous quarterly dividend of $0.65. Black Hills’s payout ratio is currently 69.89%.

Analyst Upgrades and Downgrades

Separately, Scotiabank cut their target price on shares of Black Hills from $67.00 to $66.00 and set a “sector perform” rating on the stock in a research note on Friday. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, Black Hills presently has a consensus rating of “Hold” and an average price target of $61.00.

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.