Invesco Ltd. Purchases 44,515 Shares of Black Hills Co. (NYSE:BKH)

Invesco Ltd. boosted its position in Black Hills Co. (NYSE:BKH) by 5.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 831,156 shares of the utilities provider’s stock after acquiring an additional 44,515 shares during the period. Invesco Ltd. owned 1.16% of Black Hills worth $48,639,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can boosted its stake in shares of Black Hills by 7.2% in the 4th quarter. Bank of Montreal Can now owns 20,119 shares of the utilities provider’s stock valued at $1,177,000 after purchasing an additional 1,359 shares during the last quarter. Federated Hermes Inc. boosted its position in shares of Black Hills by 404.9% in the 4th quarter. Federated Hermes Inc. now owns 61,709 shares of the utilities provider’s stock worth $3,611,000 after purchasing an additional 49,486 shares during the last quarter. Aster Capital Management DIFC Ltd grew its stake in shares of Black Hills by 29.6% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 11,006 shares of the utilities provider’s stock worth $644,000 after purchasing an additional 2,515 shares during the period. Envestnet Asset Management Inc. increased its holdings in Black Hills by 60.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 54,088 shares of the utilities provider’s stock valued at $3,165,000 after purchasing an additional 20,321 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Black Hills in the fourth quarter valued at about $1,027,000. 86.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Scotiabank decreased their target price on 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.

Black Hills Price Performance

Shares of BKH stock opened at $60.10 on Wednesday. The firm has a fifty day moving average of $59.67 and a 200-day moving average of $59.90. 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 market capitalization of $4.33 billion, a price-to-earnings ratio of 15.33, a price-to-earnings-growth 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 released its quarterly earnings data 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 return on equity of 7.82% and a net margin of 12.84%. On average, equities research analysts forecast that Black Hills Co. will post 4.12 earnings per share for the current year.

Black Hills Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, February 18th were issued a dividend of $0.676 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.50%. This is a positive change from Black Hills’s previous quarterly dividend of $0.65. The ex-dividend date was Tuesday, February 18th. Black Hills’s dividend payout ratio (DPR) is presently 68.88%.

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.