International Assets Investment Management LLC Trims Holdings in Black Hills Co. (NYSE:BKH)

International Assets Investment Management LLC reduced its stake in Black Hills Co. (NYSE:BKH) by 10.6% in the 4th quarter, Holdings Channel reports. 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of BKH. Geode Capital Management LLC boosted its position in shares of Black Hills by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,663,157 shares of the utilities provider’s stock valued at $101,671,000 after acquiring an additional 33,853 shares during the last quarter. Zimmer Partners LP purchased a new position in Black Hills during the third quarter worth about $96,374,000. AQR Capital Management LLC boosted 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 valued at $62,425,000 after purchasing an additional 275,994 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Black Hills by 8.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 978,497 shares of the utilities provider’s stock valued at $53,210,000 after buying an additional 78,958 shares during the period. Finally, Franklin Resources Inc. increased its holdings in shares of Black Hills by 109.8% during the 3rd quarter. Franklin Resources Inc. now owns 882,646 shares of the utilities provider’s stock worth $53,356,000 after buying an additional 461,894 shares during the last quarter. 86.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Scotiabank upped their price objective on Black Hills from $63.00 to $67.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Black Hills has an average rating of “Hold” and a consensus target price of $61.25.

Black Hills Trading Down 0.1 %

Shares of BKH stock opened at $56.11 on Thursday. Black Hills Co. has a 1-year low of $49.33 and a 1-year high of $65.59. The firm has a market cap of $4.02 billion, a PE ratio of 15.08, a price-to-earnings-growth ratio of 4.41 and a beta of 0.72. The company has a 50-day moving average of $60.61 and a two-hundred day moving average of $59.24. 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 Announces Dividend

The business also recently disclosed 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 dividend yield of 4.63%. Black Hills’s payout ratio is currently 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.