Intech Investment Management LLC Has $1.60 Million Position in Black Hills Co. (NYSE:BKH)

Intech Investment Management LLC increased its holdings in shares of Black Hills Co. (NYSE:BKH) by 106.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,261 shares of the utilities provider’s stock after acquiring an additional 14,072 shares during the quarter. Intech Investment Management LLC’s holdings in Black Hills were worth $1,595,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Geode Capital Management LLC grew its holdings in Black Hills by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,663,157 shares of the utilities provider’s stock valued at $101,671,000 after buying an additional 33,853 shares in the last quarter. Zimmer Partners LP acquired a new position in Black Hills in the 3rd quarter valued at $96,374,000. Charles Schwab Investment Management Inc. grew its holdings in Black Hills by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,225,653 shares of the utilities provider’s stock valued at $71,725,000 after buying an additional 39,369 shares in the last quarter. Franklin Resources Inc. grew 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 buying an additional 461,894 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Black Hills by 19.3% in the 4th quarter. Victory Capital Management Inc. now owns 551,582 shares of the utilities provider’s stock valued at $32,279,000 after buying an additional 89,181 shares in the last quarter. 86.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Scotiabank decreased their price objective on Black Hills from $67.00 to $66.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th.

Black Hills Stock Performance

NYSE:BKH opened at $59.15 on Friday. The stock has a fifty day moving average price of $59.48 and a 200-day moving average price of $60.09. The company has a market cap of $4.26 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 2.75 and a beta of 0.68. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.77 and a current ratio of 0.97. Black Hills Co. has a fifty-two week low of $50.73 and a fifty-two week high of $65.59.

Black Hills (NYSE:BKH) last released its earnings results on Wednesday, February 5th. The utilities provider reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.17. Black Hills had a return on equity of 7.82% and a net margin of 12.84%. As a group, equities analysts anticipate that Black Hills Co. will post 4.12 EPS for the current fiscal year.

Black Hills Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, February 18th were given a dividend of $0.676 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.57%. This is an increase from Black Hills’s previous quarterly dividend of $0.65. The ex-dividend date was Tuesday, February 18th. Black Hills’s dividend payout ratio is presently 68.88%.

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.