Greenland Capital Management LP Buys New Stake in Black Hills Co. (NYSE:BKH)

Greenland Capital Management LP purchased a new position in shares of Black Hills Co. (NYSE:BKH) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 31,450 shares of the utilities provider’s stock, valued at approximately $1,840,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. grew its position in shares of Black Hills by 4,751.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 16,154 shares of the utilities provider’s stock valued at $945,000 after acquiring an additional 15,821 shares during the period. HighTower Advisors LLC grew its holdings in Black Hills by 19.3% in the third quarter. HighTower Advisors LLC now owns 102,335 shares of the utilities provider’s stock valued at $6,257,000 after purchasing an additional 16,522 shares during the period. Geode Capital Management LLC increased its position in shares of Black Hills by 2.1% in the third 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. JPMorgan Chase & Co. raised its stake in shares of Black Hills by 16.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 408,877 shares of the utilities provider’s stock worth $24,991,000 after buying an additional 56,440 shares during the period. Finally, Versant Capital Management Inc lifted its position in shares of Black Hills by 181.5% during the 4th quarter. Versant Capital Management Inc now owns 473 shares of the utilities provider’s stock valued at $28,000 after buying an additional 305 shares in the last quarter. Institutional investors and hedge funds own 86.71% of the company’s stock.

Black Hills Price Performance

Shares of Black Hills stock opened at $56.69 on Tuesday. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.97 and a quick ratio of 0.77. The business has a 50 day simple moving average of $59.80 and a two-hundred day simple moving average of $60.04. The stock has a market capitalization of $4.09 billion, a P/E ratio of 14.46, a PEG ratio of 2.75 and a beta of 0.64. Black Hills Co. has a 12 month low of $50.73 and a 12 month high of $65.59.

Black Hills (NYSE:BKH) last announced its quarterly earnings data 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, analysts predict that Black Hills Co. will post 4.12 EPS for the current fiscal year.

Black Hills Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, February 18th were issued a $0.676 dividend. This is an increase from Black Hills’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $2.70 dividend on an annualized basis and a yield of 4.77%. Black Hills’s dividend payout ratio is presently 68.88%.

Wall Street Analysts Forecast Growth

Separately, Scotiabank reduced their price objective on shares of Black Hills from $67.00 to $66.00 and set a “sector perform” rating for the company in a research report on Friday, February 7th.

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.