Invenomic Capital Management LP Acquires 11,020 Shares of Black Hills Co. (NYSE:BKH)

Invenomic Capital Management LP grew its holdings in shares of Black Hills Co. (NYSE:BKH) by 8.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 146,171 shares of the utilities provider’s stock after acquiring an additional 11,020 shares during the quarter. Invenomic Capital Management LP owned 0.20% of Black Hills worth $8,554,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. increased its position in 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 worth $945,000 after purchasing an additional 15,821 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Black Hills during the fourth quarter worth $1,113,000. WCM Investment Management LLC lifted its stake in shares of Black Hills by 200.7% in the 4th quarter. WCM Investment Management LLC now owns 70,783 shares of the utilities provider’s stock valued at $4,133,000 after acquiring an additional 47,244 shares during the last quarter. Atria Investments Inc lifted its stake in shares of Black Hills by 43.1% in the 4th quarter. Atria Investments Inc now owns 8,407 shares of the utilities provider’s stock valued at $492,000 after acquiring an additional 2,533 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of Black Hills by 10.6% during the 4th quarter. Van ECK Associates Corp now owns 20,862 shares of the utilities provider’s stock valued at $1,221,000 after acquiring an additional 2,007 shares in the last quarter. Institutional investors own 86.71% of the company’s stock.

Black Hills Trading Down 0.6 %

Shares of NYSE BKH opened at $58.49 on Friday. The stock has a market cap of $4.22 billion, a P/E ratio of 14.92, a price-to-earnings-growth ratio of 2.75 and a beta of 0.74. The firm has a 50 day moving average price of $59.87 and a two-hundred day moving average price of $59.92. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.77 and a current ratio of 0.97. Black Hills Co. has a 52-week low of $51.66 and a 52-week high of $65.59.

Black Hills (NYSE:BKH) last announced its earnings results on Wednesday, May 7th. The utilities provider reported $1.87 EPS for the quarter, missing the consensus estimate of $1.92 by ($0.05). Black Hills had a return on equity of 7.82% and a net margin of 12.84%. The company had revenue of $805.20 million for the quarter, compared to analyst estimates of $729.73 million. During the same period in the previous year, the firm posted $1.87 earnings per share. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, equities analysts forecast that Black Hills Co. will post 4.12 EPS for the current year.

Black Hills Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Friday, May 16th will be given a dividend of $0.676 per share. This represents a $2.70 annualized dividend and a dividend yield of 4.62%. The ex-dividend date of this dividend is Friday, May 16th. Black Hills’s dividend payout ratio (DPR) is presently 68.88%.

Analyst Ratings Changes

Separately, Scotiabank dropped 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 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.