Intech Investment Management LLC lowered its position in shares of Black Hills Corporation (NYSE:BKH – Free Report) by 28.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,509 shares of the utilities provider’s stock after selling 11,759 shares during the period. Intech Investment Management LLC’s holdings in Black Hills were worth $2,049,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in BKH. Zimmer Partners LP boosted its position in Black Hills by 2,100.0% during the 3rd quarter. Zimmer Partners LP now owns 1,100,020 shares of the utilities provider’s stock valued at $67,750,000 after buying an additional 1,050,020 shares during the period. Balyasny Asset Management L.P. boosted its position in Black Hills by 10,853.0% during the 3rd quarter. Balyasny Asset Management L.P. now owns 664,080 shares of the utilities provider’s stock valued at $40,901,000 after buying an additional 658,017 shares during the period. AQR Capital Management LLC boosted its position in Black Hills by 52.8% during the 3rd quarter. AQR Capital Management LLC now owns 1,374,050 shares of the utilities provider’s stock valued at $84,628,000 after buying an additional 474,947 shares during the period. Two Sigma Investments LP boosted its position in Black Hills by 220.7% during the 3rd quarter. Two Sigma Investments LP now owns 525,653 shares of the utilities provider’s stock valued at $32,375,000 after buying an additional 361,751 shares during the period. Finally, Crawford Investment Counsel Inc. boosted its position in Black Hills by 264.8% during the 3rd quarter. Crawford Investment Counsel Inc. now owns 447,651 shares of the utilities provider’s stock valued at $27,571,000 after buying an additional 324,931 shares during the period. Hedge funds and other institutional investors own 86.71% of the company’s stock.
Black Hills Stock Down 0.8%
Shares of NYSE BKH opened at $71.44 on Thursday. The company has a current ratio of 0.65, a quick ratio of 0.53 and a debt-to-equity ratio of 0.99. Black Hills Corporation has a 12 month low of $55.49 and a 12 month high of $78.69. The firm has a market capitalization of $5.44 billion, a PE ratio of 18.60, a price-to-earnings-growth ratio of 2.85 and a beta of 0.72. The firm has a fifty day simple moving average of $73.17 and a two-hundred day simple moving average of $72.19.
Black Hills Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were issued a $0.703 dividend. The ex-dividend date was Friday, May 15th. This represents a $2.81 annualized dividend and a yield of 3.9%. Black Hills’s dividend payout ratio is 73.18%.
Insider Buying and Selling
In other Black Hills news, Director Robert P. Otto sold 4,109 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $74.22, for a total value of $304,969.98. Following the completion of the transaction, the director directly owned 10,886 shares in the company, valued at approximately $807,958.92. This represents a 27.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.56% of the company’s stock.
Analyst Ratings Changes
Several brokerages have weighed in on BKH. Wall Street Zen cut shares of Black Hills from a “hold” rating to a “sell” rating in a research report on Saturday, April 11th. Weiss Ratings raised shares of Black Hills from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, May 21st. Bank of America increased their price target on shares of Black Hills from $72.00 to $76.00 and gave the company a “neutral” rating in a research report on Thursday, April 9th. BMO Capital Markets increased their price target on shares of Black Hills from $84.00 to $91.00 and gave the company an “outperform” rating in a research report on Wednesday, April 15th. Finally, Siebert Williams Shank raised shares of Black Hills from a “hold” rating to a “buy” rating and increased their price target for the company from $79.00 to $82.00 in a research report on Thursday, March 12th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $81.40.
Get Our Latest Stock Report on Black Hills
About Black Hills
Black Hills Corporation is a diversified energy company based in Rapid City, South Dakota, that provides electricity and natural gas distribution services to residential, commercial and industrial customers. Through its regulated utility subsidiaries—Black Hills Power, Cheyenne Light & Power, and Black Hills Energy—the company delivers reliable energy across Colorado, Kansas, Montana, Nebraska, South Dakota and Wyoming.
In addition to its distribution operations, Black Hills owns and operates a generation portfolio that includes natural gas–fired plants, coal-fired units, hydroelectric facilities and wind projects.
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