Balyasny Asset Management L.P. Sells 26,837 Shares of Black Hills Co. (NYSE:BKH)

Balyasny Asset Management L.P. decreased its holdings in Black Hills Co. (NYSE:BKH) by 33.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,075 shares of the utilities provider’s stock after selling 26,837 shares during the quarter. Balyasny Asset Management L.P. owned approximately 0.08% of Black Hills worth $3,164,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Black Hills by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 8,602,223 shares of the utilities provider’s stock worth $503,402,000 after purchasing an additional 37,790 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of Black Hills by 21.5% in the 4th quarter. Capital Research Global Investors now owns 1,845,088 shares of the utilities provider’s stock valued at $107,975,000 after purchasing an additional 326,959 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Black Hills by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 1,698,234 shares of the utilities provider’s stock valued at $99,402,000 after purchasing an additional 35,077 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Black Hills by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,225,653 shares of the utilities provider’s stock valued at $71,725,000 after purchasing an additional 39,369 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Black Hills by 3.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,037,622 shares of the utilities provider’s stock valued at $60,721,000 after acquiring an additional 37,487 shares during the last quarter. Institutional investors own 86.71% of the company’s stock.

Black Hills Price Performance

BKH stock opened at $58.49 on Monday. The stock has a market capitalization of $4.22 billion, a PE ratio of 14.92, a price-to-earnings-growth ratio of 2.75 and a beta of 0.74. The company’s 50-day moving average is $59.87 and its 200-day moving average is $59.92. 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 Co. has a 1 year low of $51.66 and a 1 year high of $65.59.

Black Hills (NYSE:BKH) last released its quarterly earnings data 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 company had revenue of $805.20 million for the quarter, compared to the consensus estimate 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 for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the company earned $1.87 EPS. Equities research analysts expect that Black Hills Co. will post 4.12 EPS for the current fiscal year.

Black Hills Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Friday, May 16th will be issued a dividend of $0.676 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.70 annualized dividend and a yield of 4.62%. Black Hills’s payout ratio is 68.88%.

Analyst Ratings Changes

Separately, Scotiabank cut 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 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.