Balyasny Asset Management L.P. Decreases Stake in Black Hills Co. (NYSE:BKH)

Balyasny Asset Management L.P. decreased its position in Black Hills Co. (NYSE:BKH) by 33.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 54,075 shares of the utilities provider’s stock after selling 26,837 shares during the period. Balyasny Asset Management L.P.’s holdings in Black Hills were worth $3,164,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its position in Black Hills by 66.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 432 shares of the utilities provider’s stock valued at $25,000 after buying an additional 173 shares during the period. Larson Financial Group LLC increased its stake in shares of Black Hills by 182.8% during the 4th quarter. Larson Financial Group LLC now owns 461 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 298 shares during the last quarter. Global Retirement Partners LLC increased its stake in shares of Black Hills by 373.2% during the 4th quarter. Global Retirement Partners LLC now owns 530 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 418 shares during the last quarter. UMB Bank n.a. increased its stake in shares of Black Hills by 83.3% during the 4th quarter. UMB Bank n.a. now owns 625 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 284 shares during the last quarter. Finally, Quarry LP increased its stake in shares of Black Hills by 1,159.7% during the 4th quarter. Quarry LP now owns 781 shares of the utilities provider’s stock worth $46,000 after purchasing an additional 719 shares during the last quarter. Institutional investors own 86.71% of the company’s stock.

Black Hills Trading Down 0.6%

Shares of Black Hills stock opened at $58.49 on Monday. Black Hills Co. has a 12-month low of $51.66 and a 12-month high of $65.59. The company has a market cap of $4.22 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 2.75 and a beta of 0.74. The company has a current ratio of 0.97, a quick ratio of 0.77 and a debt-to-equity ratio of 1.19. The company’s 50-day moving average price is $59.87 and its 200-day moving average price is $59.92.

Black Hills (NYSE:BKH) last announced its quarterly 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 net margin of 12.84% and a return on equity of 7.82%. The firm had revenue of $805.20 million during the quarter, compared to the consensus estimate of $729.73 million. During the same period in the previous year, the business earned $1.87 earnings per share. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, equities analysts expect that Black Hills Co. will post 4.12 earnings per share for the current fiscal year.

Black Hills Dividend Announcement

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

Wall Street Analyst Weigh In

Separately, Scotiabank reduced 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 research note on Friday, February 7th.

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.