Cibc World Markets Corp Takes Position in Black Hills Co. (NYSE:BKH)

Cibc World Markets Corp purchased a new stake in shares of Black Hills Co. (NYSE:BKH) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,557 shares of the utilities provider’s stock, valued at approximately $384,000.

Other hedge funds have also bought and sold shares of the company. Zimmer Partners LP purchased a new stake in shares of Black Hills during the 3rd quarter valued at $96,374,000. Franklin Resources Inc. grew its position in 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 period. Great Lakes Advisors LLC purchased a new stake in Black Hills during the fourth quarter worth about $10,490,000. Raymond James Financial Inc. bought a new stake in Black Hills in the fourth quarter worth about $8,413,000. Finally, Invenomic Capital Management LP purchased a new position in Black Hills in the third quarter valued at about $8,260,000. 86.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Scotiabank decreased their price target on shares of 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 Trading Down 2.1 %

Shares of BKH opened at $59.15 on Monday. The firm has a market cap of $4.26 billion, a P/E ratio of 15.09, a price-to-earnings-growth ratio of 2.75 and a beta of 0.68. Black Hills Co. has a fifty-two week low of $50.73 and a fifty-two week high of $65.59. 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 business has a 50-day moving average of $59.48 and a 200 day moving average of $60.10.

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 the consensus estimate 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 forecast that Black Hills Co. will post 4.12 EPS for the current year.

Black Hills Increases Dividend

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