New York State Teachers Retirement System Sells 8,000 Shares of Black Hills Co. (NYSE:BKH)

New York State Teachers Retirement System lowered its position in Black Hills Co. (NYSE:BKH - Free Report) by 8.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 87,390 shares of the utilities provider's stock after selling 8,000 shares during the period. New York State Teachers Retirement System owned 0.12% of Black Hills worth $5,114,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in BKH. Creative Planning increased its holdings in Black Hills by 4.1% in the third quarter. Creative Planning now owns 24,537 shares of the utilities provider's stock worth $1,500,000 after buying an additional 966 shares during the last quarter. Blue Trust Inc. increased its holdings in Black Hills by 84.9% in the third quarter. Blue Trust Inc. now owns 577 shares of the utilities provider's stock worth $35,000 after buying an additional 265 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Black Hills by 26.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 15,712 shares of the utilities provider's stock worth $960,000 after buying an additional 3,262 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Black Hills by 11.8% during the third quarter. International Assets Investment Management LLC now owns 33,568 shares of the utilities provider's stock valued at $20,520,000 after purchasing an additional 3,548 shares during the last quarter. Finally, Riverwater Partners LLC acquired a new position in Black Hills during the third quarter valued at approximately $1,765,000. Institutional investors and hedge funds own 86.71% of the company's stock.

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Black Hills Price Performance

Black Hills stock traded up $0.14 during mid-day trading on Monday, hitting $59.79. 369,467 shares of the company were exchanged, compared to its average volume of 464,576. The company has a quick ratio of 0.77, a current ratio of 0.97 and a debt-to-equity ratio of 1.19. The business has a fifty day moving average of $58.55 and a 200 day moving average of $59.80. Black Hills Co. has a 1-year low of $50.72 and a 1-year high of $65.59. The company has a market capitalization of $4.28 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 2.71 and a beta of 0.73.

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 (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.17. Black Hills had a return on equity of 7.82% and a net margin of 12.84%. As a group, sell-side analysts expect that Black Hills Co. will post 4.12 earnings per share for the current year.

Black Hills Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, February 18th will be given a $0.676 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 4.52%. This is a positive change from Black Hills's previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Tuesday, February 18th. Black Hills's dividend payout ratio (DPR) is presently 68.88%.

Wall Street Analysts Forecast Growth

Separately, Scotiabank lowered their price target on Black Hills from $67.00 to $66.00 and set a "sector perform" rating on the stock in a 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.