Pathway Financial Advisers LLC Sells 35,217 Shares of Black Hills Co. (NYSE:BKH)

Pathway Financial Advisers LLC decreased its holdings in Black Hills Co. (NYSE:BKH) by 98.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 592 shares of the utilities provider’s stock after selling 35,217 shares during the period. Pathway Financial Advisers LLC’s holdings in Black Hills were worth $35,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Zimmer Partners LP purchased a new position in shares of Black Hills in the 3rd quarter valued at $96,374,000. Franklin Resources Inc. grew its stake in Black Hills by 109.8% in the third 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. Invenomic Capital Management LP purchased a new position in Black Hills in the third quarter valued at about $8,260,000. SG Americas Securities LLC raised its holdings in Black Hills by 1,579.6% in the fourth quarter. SG Americas Securities LLC now owns 84,634 shares of the utilities provider’s stock worth $4,953,000 after purchasing an additional 79,595 shares in the last quarter. Finally, Kingsview Wealth Management LLC purchased a new stake in shares of Black Hills during the fourth quarter valued at about $3,447,000. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Black Hills Stock Up 0.4 %

Shares of BKH stock opened at $60.36 on Friday. The stock’s fifty day moving average price is $58.79 and its 200 day moving average price is $59.71. Black Hills Co. has a 1-year low of $50.72 and a 1-year high of $65.59. The company has a market cap of $4.32 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 4.30 and a beta of 0.73. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.12 and a quick ratio of 0.83.

Black Hills (NYSE:BKH) last posted its quarterly earnings data on Wednesday, February 5th. The utilities provider reported $1.37 earnings per share (EPS) 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 7.88%. On average, research analysts expect that Black Hills Co. will post 4.13 earnings per share for the current fiscal year.

Black Hills Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, February 18th will be issued a $0.676 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.48%. This is a boost from Black Hills’s previous quarterly dividend of $0.65. Black Hills’s dividend payout ratio (DPR) is currently 66.33%.

Wall Street Analyst Weigh In

Separately, Scotiabank cut 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 research 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.