Martingale Asset Management L P Sells 1,202 Shares of Black Hills Co. (NYSE:BKH)

Martingale Asset Management L P decreased its stake in Black Hills Co. (NYSE:BKH) by 1.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 70,481 shares of the utilities provider’s stock after selling 1,202 shares during the period. Martingale Asset Management L P’s holdings in Black Hills were worth $4,125,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Greenland Capital Management LP purchased a new stake in shares of Black Hills during the 4th quarter valued at approximately $1,840,000. Invesco Ltd. lifted its stake in shares of Black Hills by 5.7% during the 4th quarter. Invesco Ltd. now owns 831,156 shares of the utilities provider’s stock valued at $48,639,000 after buying an additional 44,515 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Black Hills by 7.2% during the 4th quarter. Bank of Montreal Can now owns 20,119 shares of the utilities provider’s stock valued at $1,177,000 after buying an additional 1,359 shares in the last quarter. Federated Hermes Inc. increased its holdings in Black Hills by 404.9% during the 4th quarter. Federated Hermes Inc. now owns 61,709 shares of the utilities provider’s stock worth $3,611,000 after acquiring an additional 49,486 shares during the period. Finally, Aster Capital Management DIFC Ltd increased its holdings in Black Hills by 29.6% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 11,006 shares of the utilities provider’s stock worth $644,000 after acquiring an additional 2,515 shares during the period. Institutional investors own 86.71% of the company’s stock.

Black Hills Trading Up 2.3 %

Shares of BKH opened at $58.04 on Thursday. The stock has a market capitalization of $4.18 billion, a P/E ratio of 14.81, a PEG ratio of 2.75 and a beta of 0.64. The company has a quick ratio of 0.77, a current ratio of 0.97 and a debt-to-equity ratio of 1.19. The firm has a fifty day simple moving average of $59.71 and a two-hundred day simple moving average of $59.96. Black Hills Co. has a twelve month low of $50.73 and a twelve month high of $65.59.

Black Hills (NYSE:BKH) last announced its quarterly earnings results on Wednesday, February 5th. The utilities provider reported $1.37 earnings per share for the quarter, beating 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%. On average, research analysts anticipate 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. Stockholders of record on Tuesday, February 18th were given a $0.676 dividend. This represents a $2.70 annualized dividend and a dividend yield of 4.66%. This is a boost from Black Hills’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Tuesday, February 18th. Black Hills’s dividend payout ratio (DPR) is currently 68.88%.

Wall Street Analyst Weigh In

Separately, Scotiabank decreased 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 report on Friday, February 7th.

Black Hills 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.