Ensign Peak Advisors Inc Sells 9,795 Shares of Black Hills Co. (NYSE:BKH)

Ensign Peak Advisors Inc lessened its holdings in Black Hills Co. (NYSE:BKH - Free Report) by 31.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,308 shares of the utilities provider's stock after selling 9,795 shares during the quarter. Ensign Peak Advisors Inc's holdings in Black Hills were worth $1,247,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of BKH. Smartleaf Asset Management LLC boosted its stake in Black Hills by 66.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 432 shares of the utilities provider's stock worth $25,000 after purchasing an additional 173 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Black Hills by 182.8% during the fourth quarter. Larson Financial Group LLC now owns 461 shares of the utilities provider's stock valued at $27,000 after buying an additional 298 shares during the last quarter. Global Retirement Partners LLC increased its position in shares of Black Hills by 373.2% during the fourth quarter. Global Retirement Partners LLC now owns 530 shares of the utilities provider's stock valued at $31,000 after acquiring an additional 418 shares in the last quarter. UMB Bank n.a. raised its holdings in Black Hills by 83.3% in the 4th quarter. UMB Bank n.a. now owns 625 shares of the utilities provider's stock worth $37,000 after acquiring an additional 284 shares during the last quarter. Finally, Quarry LP raised its holdings in Black Hills by 1,159.7% in the 4th quarter. Quarry LP now owns 781 shares of the utilities provider's stock worth $46,000 after acquiring an additional 719 shares during the last quarter. Hedge funds and other institutional investors own 86.71% of the company's stock.

Black Hills Stock Performance

Black Hills stock traded down $0.90 during midday trading on Thursday, reaching $57.33. 50,909 shares of the company traded hands, compared to its average volume of 449,874. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.97 and a quick ratio of 0.77. Black Hills Co. has a 12 month low of $51.66 and a 12 month high of $65.59. The firm has a market capitalization of $4.16 billion, a price-to-earnings ratio of 14.65, a price-to-earnings-growth ratio of 2.75 and a beta of 0.74. The business has a 50 day moving average of $59.61 and a two-hundred day moving average of $59.85.

Black Hills (NYSE:BKH - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $1.87 earnings per share for the quarter, missing the consensus estimate of $1.92 by ($0.05). The firm had revenue of $805.20 million for the quarter, compared to the consensus estimate of $729.73 million. Black Hills had a net margin of 12.84% and a return on equity of 7.82%. Black Hills's quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.87 earnings per share. As a group, research analysts predict that Black Hills Co. will post 4.12 earnings per share for the current year.

Black Hills Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Friday, May 16th will be paid a dividend of $0.676 per share. The ex-dividend date is Friday, May 16th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.72%. Black Hills's dividend payout ratio is currently 68.88%.

Analysts Set New Price Targets

A number of analysts have commented on BKH shares. Scotiabank reduced their target price on Black Hills from $67.00 to $66.00 and set a "sector perform" rating for the company in a report on Friday, February 7th. BMO Capital Markets started coverage on Black Hills in a research report on Tuesday, May 13th. They set an "outperform" rating and a $68.00 price objective on the stock.

About Black Hills

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.