Bessemer Group Inc. Sells 838 Shares of Black Hills Co. (NYSE:BKH)

Bessemer Group Inc. lessened its holdings in shares of Black Hills Co. (NYSE:BKH) by 59.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 560 shares of the utilities provider’s stock after selling 838 shares during the period. Bessemer Group Inc.’s holdings in Black Hills were worth $33,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in BKH. Smartleaf Asset Management LLC grew its stake in shares of Black Hills by 66.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 432 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 173 shares during the period. Larson Financial Group LLC boosted its holdings in Black Hills by 182.8% during the fourth quarter. Larson Financial Group LLC now owns 461 shares of the utilities provider’s stock worth $27,000 after buying an additional 298 shares during the last quarter. Versant Capital Management Inc grew 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 worth $28,000 after buying an additional 305 shares during the period. Global Retirement Partners LLC increased its stake in shares of Black Hills by 373.2% in the 4th quarter. Global Retirement Partners LLC now owns 530 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 418 shares during the last quarter. Finally, UMB Bank n.a. raised its position in shares of Black Hills by 83.3% in the 4th quarter. UMB Bank n.a. now owns 625 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 284 shares during the period. Institutional investors own 86.71% of the company’s stock.

Analysts Set New Price Targets

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

Black Hills Stock Up 0.8 %

Shares of Black Hills stock opened at $60.52 on Friday. The company has a market capitalization of $4.36 billion, a P/E ratio of 15.44, a price-to-earnings-growth ratio of 2.75 and a beta of 0.64. 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 moving average of $59.70 and a two-hundred day moving average of $59.90. Black Hills Co. has a 1 year low of $51.66 and a 1 year high of $65.59.

Black Hills (NYSE:BKH) last posted its earnings results on Wednesday, February 5th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, topping 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, equities analysts predict 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. Investors of record on Tuesday, February 18th were paid a $0.676 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This is a positive change from Black Hills’s previous quarterly dividend of $0.65. This represents a $2.70 dividend on an annualized basis and a yield of 4.47%. Black Hills’s dividend payout ratio is presently 68.88%.

Black Hills Company 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.