Summit Investment Advisors Inc. Purchases 483 Shares of Black Hills Co. (NYSE:BKH)

Summit Investment Advisors Inc. grew its position in Black Hills Co. (NYSE:BKH) by 1.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,319 shares of the utilities provider’s stock after acquiring an additional 483 shares during the period. Summit Investment Advisors Inc. owned about 0.06% of Black Hills worth $2,418,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of BKH. Quantinno Capital Management LP bought a new position in Black Hills during the third quarter worth about $275,000. Barclays PLC boosted its stake in shares of Black Hills by 4.5% during the 3rd quarter. Barclays PLC now owns 500,826 shares of the utilities provider’s stock worth $30,610,000 after acquiring an additional 21,697 shares during the period. Geode Capital Management LLC increased its holdings in shares of Black Hills by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,663,157 shares of the utilities provider’s stock worth $101,671,000 after acquiring an additional 33,853 shares during the last quarter. World Investment Advisors LLC bought a new stake in Black Hills in the 3rd quarter valued at $1,185,000. Finally, Franklin Resources Inc. lifted its holdings in Black Hills by 109.8% during the 3rd quarter. Franklin Resources Inc. now owns 882,646 shares of the utilities provider’s stock valued at $53,356,000 after purchasing an additional 461,894 shares during the last quarter. 86.71% of the stock is currently owned by institutional investors and hedge funds.

Black Hills Price Performance

Shares of NYSE BKH opened at $59.80 on Tuesday. The business’s 50 day moving average is $59.67 and its 200-day moving average is $59.90. The firm has a market cap of $4.31 billion, a P/E ratio of 15.26, a price-to-earnings-growth ratio of 2.75 and a beta of 0.64. Black Hills Co. has a 1-year low of $50.73 and a 1-year high of $65.59. The company has a current ratio of 0.97, a quick ratio of 0.77 and a debt-to-equity ratio of 1.19.

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

Black Hills Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.676 per share. The ex-dividend date was Tuesday, February 18th. This is a boost from Black Hills’s previous quarterly dividend of $0.65. This represents a $2.70 annualized dividend and a dividend yield of 4.52%. Black Hills’s dividend payout ratio (DPR) is currently 68.88%.

Analyst Upgrades and Downgrades

Separately, Scotiabank decreased their price objective 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.

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.