Assenagon Asset Management S.A. Sells 286,142 Shares of Black Hills Co. (NYSE:BKH)

Assenagon Asset Management S.A. reduced its stake in Black Hills Co. (NYSE:BKH - Free Report) by 96.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,491 shares of the utilities provider's stock after selling 286,142 shares during the period. Assenagon Asset Management S.A.'s holdings in Black Hills were worth $672,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc boosted its stake in Black Hills by 181.5% in the 4th quarter. Versant Capital Management Inc now owns 473 shares of the utilities provider's stock worth $28,000 after purchasing an additional 305 shares during the period. Blue Trust Inc. boosted its position in shares of Black Hills by 84.9% in the third 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. Capital Performance Advisors LLP purchased a new position in Black Hills during the third quarter valued at approximately $45,000. Quarry LP increased its holdings in Black Hills by 158.0% during the 2nd quarter. Quarry LP now owns 841 shares of the utilities provider's stock worth $46,000 after acquiring an additional 515 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. lifted its stake in Black Hills by 972.3% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 890 shares of the utilities provider's stock worth $48,000 after purchasing an additional 807 shares in the last quarter. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Black Hills Price Performance

Shares of BKH stock traded up $0.28 during trading on Friday, hitting $57.59. The company had a trading volume of 419,096 shares, compared to its average volume of 374,290. Black Hills Co. has a 52 week low of $49.33 and a 52 week high of $65.59. 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. 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's 50-day moving average is $59.91 and its two-hundred day moving average is $59.55.

Black Hills Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.676 per share. This represents a $2.70 annualized dividend and a dividend yield of 4.70%. This is a boost from Black Hills's previous quarterly dividend of $0.65. Black Hills's dividend payout ratio (DPR) is 69.89%.

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.