Voya Investment Management LLC Sells 38,935 Shares of Black Hills Co. (NYSE:BKH)

Voya Investment Management LLC lowered its stake in shares of Black Hills Co. (NYSE:BKH - Free Report) by 18.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 170,003 shares of the utilities provider's stock after selling 38,935 shares during the quarter. Voya Investment Management LLC owned about 0.24% of Black Hills worth $9,949,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. First Trust Advisors LP boosted its position in shares of Black Hills by 309.5% during the fourth quarter. First Trust Advisors LP now owns 953,431 shares of the utilities provider's stock valued at $55,795,000 after purchasing an additional 720,628 shares in the last quarter. Franklin Resources Inc. raised its holdings in Black Hills by 109.8% in the third quarter. Franklin Resources Inc. now owns 882,646 shares of the utilities provider's stock worth $53,356,000 after purchasing an additional 461,894 shares in the last quarter. Capital Research Global Investors lifted its position in Black Hills by 21.5% during the fourth quarter. Capital Research Global Investors now owns 1,845,088 shares of the utilities provider's stock valued at $107,975,000 after buying an additional 326,959 shares during the period. Great Lakes Advisors LLC purchased a new stake in shares of Black Hills in the 4th quarter worth about $10,490,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Black Hills in the 4th quarter worth about $8,413,000. 86.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Black Hills Stock Up 0.9 %

NYSE:BKH traded up $0.53 during trading hours on Friday, reaching $61.28. 244,104 shares of the company traded hands, compared to its average volume of 452,486. The company has a current ratio of 0.97, a quick ratio of 0.77 and a debt-to-equity ratio of 1.19. The business's 50-day moving average price is $59.92 and its two-hundred day moving average price is $59.94. Black Hills Co. has a 1 year low of $51.66 and a 1 year high of $65.59. The stock has a market capitalization of $4.42 billion, a P/E ratio of 15.63, a P/E/G ratio of 2.75 and a beta of 0.64.

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 for the quarter, beating analysts' consensus estimates of $1.20 by $0.17. Black Hills had a net margin of 12.84% and a return on equity of 7.82%. Analysts predict that Black Hills Co. will post 4.12 earnings per share for the current year.

Black Hills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Friday, May 16th will be given a $0.676 dividend. The ex-dividend date is Friday, May 16th. This represents a $2.70 annualized dividend and a yield of 4.41%. Black Hills's payout ratio is presently 68.88%.

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.