Black Hills Co. (NYSE:BKH) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its stake in shares of Black Hills Co. (NYSE:BKH - Free Report) by 60.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,088 shares of the utilities provider's stock after purchasing an additional 20,321 shares during the quarter. Envestnet Asset Management Inc. owned about 0.08% of Black Hills worth $3,165,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Franklin Resources Inc. lifted its position 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 valued at $53,356,000 after acquiring an additional 461,894 shares during the period. Great Lakes Advisors LLC purchased a new position in shares of Black Hills in the fourth quarter valued at $10,490,000. Raymond James Financial Inc. acquired a new position in shares of Black Hills during the 4th quarter worth $8,413,000. JPMorgan Chase & Co. boosted its position in shares of Black Hills by 34.9% in the 4th quarter. JPMorgan Chase & Co. now owns 551,414 shares of the utilities provider's stock worth $32,269,000 after buying an additional 142,537 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Black Hills by 19.3% during the 4th quarter. Victory Capital Management Inc. now owns 551,582 shares of the utilities provider's stock valued at $32,279,000 after acquiring an additional 89,181 shares in the last quarter. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Scotiabank lowered their price target on shares of Black Hills from $67.00 to $66.00 and set a "sector perform" rating on the stock in a research report on Friday, February 7th.

Black Hills Trading Down 0.5 %

NYSE:BKH traded down $0.32 on Wednesday, reaching $60.84. The stock had a trading volume of 533,794 shares, compared to its average volume of 454,017. Black Hills Co. has a 12-month low of $51.66 and a 12-month high of $65.59. The firm's fifty day moving average is $59.87 and its two-hundred day moving average is $59.96. The company has a market cap of $4.39 billion, a price-to-earnings ratio of 15.52, a P/E/G ratio of 2.75 and a beta of 0.64. 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 (NYSE:BKH - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.17. Black Hills had a net margin of 12.84% and a return on equity of 7.82%. Equities analysts expect that Black Hills Co. will post 4.12 EPS for the current fiscal year.

Black Hills Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Friday, May 16th will be paid a dividend of $0.676 per share. This represents a $2.70 annualized dividend and a dividend yield of 4.44%. The ex-dividend date is Friday, May 16th. Black Hills's dividend payout ratio (DPR) is currently 68.88%.

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.