Black Hills Co. (NYSE:BKH) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC lessened its position in Black Hills Co. (NYSE:BKH - Free Report) by 2.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,110,441 shares of the utilities provider's stock after selling 25,930 shares during the period. Nuveen Asset Management LLC owned approximately 1.55% of Black Hills worth $64,983,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in BKH. Smartleaf Asset Management LLC lifted its stake in shares of Black Hills by 66.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 432 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 173 shares during the period. Larson Financial Group LLC lifted its stake in shares of Black Hills by 182.8% in the fourth quarter. Larson Financial Group LLC now owns 461 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 298 shares during the period. Global Retirement Partners LLC lifted its stake in shares of Black Hills by 373.2% in the fourth quarter. Global Retirement Partners LLC now owns 530 shares of the utilities provider's stock valued at $31,000 after purchasing an additional 418 shares during the period. UMB Bank n.a. lifted its stake in shares of Black Hills by 83.3% in the fourth quarter. UMB Bank n.a. now owns 625 shares of the utilities provider's stock valued at $37,000 after purchasing an additional 284 shares during the period. Finally, Quarry LP lifted its stake in shares of Black Hills by 1,159.7% in the fourth quarter. Quarry LP now owns 781 shares of the utilities provider's stock valued at $46,000 after purchasing an additional 719 shares during the period. Institutional investors and hedge funds own 86.71% of the company's stock.

Black Hills Price Performance

BKH traded up $0.51 during midday trading on Friday, reaching $58.07. 343,293 shares of the company's stock were exchanged, compared to its average volume of 452,131. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.97 and a quick ratio of 0.77. The stock has a market capitalization of $4.21 billion, a PE ratio of 14.81, a P/E/G ratio of 2.75 and a beta of 0.74. The business's 50-day moving average price is $59.48 and its 200 day moving average price is $59.84. Black Hills Co. has a 1-year low of $51.66 and a 1-year high of $65.59.

Black Hills (NYSE:BKH - Get Free Report) last announced its earnings results on Wednesday, May 7th. The utilities provider reported $1.87 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.92 by ($0.05). The business had revenue of $805.20 million for the quarter, compared to analyst estimates of $729.73 million. Black Hills had a return on equity of 7.82% and a net margin of 12.84%. The business's revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.87 EPS. As a group, equities analysts anticipate that Black Hills Co. will post 4.12 EPS for the current fiscal year.

Black Hills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Friday, May 16th will be given a dividend of $0.676 per share. This represents a $2.70 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date is Friday, May 16th. Black Hills's payout ratio is currently 68.88%.

Analyst Ratings Changes

BKH has been the subject of several recent analyst reports. BMO Capital Markets initiated coverage on shares of Black Hills in a research note on Tuesday, May 13th. They issued an "outperform" rating and a $68.00 price objective for the company. Scotiabank reduced their price objective on shares of Black Hills from $67.00 to $66.00 and set a "sector perform" rating for the company in a research note on Friday, February 7th.

Black Hills Company 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.