Nuveen Asset Management LLC Trims Stock Position in Black Hills Co. (NYSE:BKH)

Nuveen Asset Management LLC lessened its stake in Black Hills Co. (NYSE:BKH - Free Report) by 2.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. 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 1.55% of Black Hills worth $64,983,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Millennium Management LLC increased its holdings in shares of Black Hills by 113.6% in the fourth quarter. Millennium Management LLC now owns 463,459 shares of the utilities provider's stock valued at $27,122,000 after purchasing an additional 246,500 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Black Hills by 6.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,892 shares of the utilities provider's stock valued at $2,334,000 after buying an additional 2,325 shares during the last quarter. Invenomic Capital Management LP increased its stake in Black Hills by 8.2% in the 4th quarter. Invenomic Capital Management LP now owns 146,171 shares of the utilities provider's stock valued at $8,554,000 after buying an additional 11,020 shares during the period. DC Investments Management LLC raised its position in Black Hills by 69.3% during the 4th quarter. DC Investments Management LLC now owns 31,227 shares of the utilities provider's stock worth $1,827,000 after buying an additional 12,780 shares during the last quarter. Finally, EP Wealth Advisors LLC lifted its stake in shares of Black Hills by 5.9% in the 4th quarter. EP Wealth Advisors LLC now owns 3,528 shares of the utilities provider's stock worth $206,000 after acquiring an additional 197 shares during the period. 86.71% of the stock is owned by hedge funds and other institutional investors.

Black Hills Price Performance

BKH traded down $0.70 on Thursday, hitting $57.54. 558,169 shares of the company were exchanged, compared to its average volume of 451,859. Black Hills Co. has a fifty-two week low of $51.66 and a fifty-two week high of $65.59. 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 firm has a market capitalization of $4.17 billion, a P/E ratio of 14.68, a price-to-earnings-growth ratio of 2.75 and a beta of 0.74. The business's fifty day moving average is $59.61 and its 200 day moving average is $59.85.

Black Hills (NYSE:BKH - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $1.87 EPS 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 analysts' expectations of $729.73 million. Black Hills had a return on equity of 7.82% and a net margin of 12.84%. Black Hills's revenue was up 10.8% compared to the same quarter last year. During the same period last year, the firm earned $1.87 EPS. As a group, sell-side analysts anticipate that Black Hills Co. will post 4.12 EPS for the current year.

Black Hills Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Friday, May 16th will be given a $0.676 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.70%. The ex-dividend date is Friday, May 16th. Black Hills's dividend payout ratio is currently 68.88%.

Analysts Set New Price Targets

BKH has been the topic of a number of recent analyst reports. BMO Capital Markets began coverage on shares of Black Hills in a research note on Tuesday, May 13th. They set an "outperform" rating and a $68.00 price target on the stock. Scotiabank dropped their target price on 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 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.