Black Hills Co. (NYSE:BKH) Stock Holdings Reduced by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lowered its holdings in shares of Black Hills Co. (NYSE:BKH) by 3.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,169 shares of the utilities provider’s stock after selling 224 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Black Hills were worth $361,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Harbor Capital Advisors Inc. boosted its holdings in Black Hills by 4,751.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 16,154 shares of the utilities provider’s stock valued at $945,000 after purchasing an additional 15,821 shares in the last quarter. Geode Capital Management LLC raised its stake in 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 worth $101,671,000 after buying an additional 33,853 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Black Hills by 16.0% in the third quarter. JPMorgan Chase & Co. now owns 408,877 shares of the utilities provider’s stock valued at $24,991,000 after purchasing an additional 56,440 shares in the last quarter. Versant Capital Management Inc lifted its position in Black Hills by 181.5% during the 4th quarter. Versant Capital Management Inc now owns 473 shares of the utilities provider’s stock worth $28,000 after buying an additional 305 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of Black Hills by 8.3% in the 3rd quarter. FMR LLC now owns 117,828 shares of the utilities provider’s stock valued at $7,202,000 after purchasing an additional 9,002 shares during the period. Institutional investors and hedge funds own 86.71% of the company’s stock.

Black Hills Trading Up 2.3 %

Shares of BKH stock opened at $58.04 on Thursday. The business’s fifty day moving average is $59.71 and its 200 day moving average is $59.96. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.77 and a current ratio of 0.97. The company has a market capitalization of $4.18 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 2.75 and a beta of 0.64. Black Hills Co. has a 52-week low of $50.73 and a 52-week high of $65.59.

Black Hills (NYSE:BKH) last announced its quarterly earnings results on Wednesday, February 5th. The utilities provider reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.17. Black Hills had a return on equity of 7.82% and a net margin of 12.84%. On average, equities research analysts anticipate that Black Hills Co. will post 4.12 EPS for the current fiscal year.

Black Hills Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, February 18th were paid a $0.676 dividend. This represents a $2.70 annualized dividend and a dividend yield of 4.66%. The ex-dividend date was Tuesday, February 18th. This is a boost from Black Hills’s previous quarterly dividend of $0.65. Black Hills’s dividend payout ratio is 68.88%.

Analyst Upgrades and Downgrades

Separately, Scotiabank dropped their target price on shares of Black Hills from $67.00 to $66.00 and set a “sector perform” rating for the company in a research report on Friday, February 7th.

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.