Hunter Perkins Capital Management LLC Sells 46,645 Shares of Black Hills Co. (NYSE:BKH)

Hunter Perkins Capital Management LLC trimmed its stake in shares of Black Hills Co. (NYSE:BKH) by 17.2% in the fourth quarter, HoldingsChannel reports. The firm owned 225,040 shares of the utilities provider’s stock after selling 46,645 shares during the quarter. Black Hills accounts for about 2.8% of Hunter Perkins Capital Management LLC’s holdings, making the stock its 11th largest holding. Hunter Perkins Capital Management LLC’s holdings in Black Hills were worth $13,169,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc lifted its stake in shares of Black Hills by 181.5% during the 4th quarter. Versant Capital Management Inc now owns 473 shares of the utilities provider’s stock worth $28,000 after buying an additional 305 shares during the last quarter. Blue Trust Inc. raised its holdings in Black Hills by 84.9% in the 3rd quarter. Blue Trust Inc. now owns 577 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 265 shares during the period. UMB Bank n.a. lifted its position in Black Hills by 83.3% during the fourth 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. Capital Performance Advisors LLP bought a new stake in shares of Black Hills during the third quarter worth approximately $45,000. Finally, Quarry LP grew its position in shares of Black Hills by 158.0% in the second quarter. Quarry LP now owns 841 shares of the utilities provider’s stock valued at $46,000 after purchasing an additional 515 shares during the last quarter. 86.71% of the stock is currently owned by institutional investors and hedge funds.

Black Hills Price Performance

Shares of Black Hills stock opened at $57.59 on Monday. The company has a quick ratio of 0.83, a current ratio of 1.12 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $4.12 billion, a price-to-earnings ratio of 15.48, a price-to-earnings-growth ratio of 4.13 and a beta of 0.72. Black Hills Co. has a twelve month low of $49.33 and a twelve month high of $65.59. The company has a 50-day simple moving average of $59.91 and a two-hundred day simple moving average of $59.59.

Black Hills Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, February 18th will be paid a $0.676 dividend. This is a boost from Black Hills’s previous quarterly dividend of $0.65. This represents a $2.70 annualized dividend and a dividend yield of 4.70%. Black Hills’s payout ratio is 69.89%.

Wall Street Analyst Weigh In

Separately, Scotiabank increased their target price on Black Hills from $63.00 to $67.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $61.25.

Black Hills 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.