International Assets Investment Management LLC Lowers Stake in Black Hills Co. (NYSE:BKH)

International Assets Investment Management LLC lessened its holdings in Black Hills Co. (NYSE:BKH) by 10.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,020 shares of the utilities provider’s stock after selling 3,548 shares during the period. International Assets Investment Management LLC’s holdings in Black Hills were worth $1,757,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Zimmer Partners LP acquired a new stake in Black Hills in the third quarter valued at approximately $96,374,000. Franklin Resources Inc. grew its stake in Black Hills by 109.8% in the 3rd quarter. Franklin Resources Inc. now owns 882,646 shares of the utilities provider’s stock valued at $53,356,000 after acquiring an additional 461,894 shares during the period. AQR Capital Management LLC increased its holdings in Black Hills by 31.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,147,939 shares of the utilities provider’s stock worth $62,425,000 after acquiring an additional 275,994 shares in the last quarter. Victory Capital Management Inc. raised its position in Black Hills by 54.5% during the second quarter. Victory Capital Management Inc. now owns 481,415 shares of the utilities provider’s stock worth $26,179,000 after acquiring an additional 169,827 shares during the period. Finally, Invenomic Capital Management LP purchased a new position in Black Hills during the third quarter valued at $8,260,000. Institutional investors and hedge funds own 86.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Scotiabank boosted their target price on shares of Black Hills from $63.00 to $67.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, Black Hills has a consensus rating of “Hold” and a consensus price target of $61.25.

Black Hills Trading Down 0.1 %

Shares of BKH stock opened at $56.11 on Thursday. Black Hills Co. has a fifty-two week low of $49.33 and a fifty-two week high of $65.59. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.83 and a current ratio of 1.12. The stock’s fifty day moving average is $60.61 and its two-hundred day moving average is $59.24. The firm has a market capitalization of $4.02 billion, a P/E ratio of 15.08, a PEG ratio of 4.41 and a beta of 0.72.

Black Hills Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Monday, November 18th were given a dividend of $0.65 per share. The ex-dividend date was Monday, November 18th. This represents a $2.60 dividend on an annualized basis and a yield of 4.63%. Black Hills’s payout ratio is presently 69.89%.

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.