Aigen Investment Management LP Sells 5,742 Shares of Black Hills Co. (NYSE:BKH)

Aigen Investment Management LP cut its holdings in Black Hills Co. (NYSE:BKH - Free Report) by 42.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,770 shares of the utilities provider's stock after selling 5,742 shares during the period. Aigen Investment Management LP's holdings in Black Hills were worth $455,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Geode Capital Management LLC raised its position in Black Hills by 2.1% in the third quarter. Geode Capital Management LLC now owns 1,663,157 shares of the utilities provider's stock worth $101,671,000 after acquiring an additional 33,853 shares during the period. Zimmer Partners LP bought a new stake in shares of Black Hills during the 3rd quarter valued at $96,374,000. Charles Schwab Investment Management Inc. raised its position in shares of Black Hills by 3.3% during 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 period. Franklin Resources Inc. raised its position in shares of Black Hills by 109.8% during the 3rd quarter. Franklin Resources Inc. now owns 882,646 shares of the utilities provider's stock valued at $53,356,000 after purchasing an additional 461,894 shares during the period. Finally, Victory Capital Management Inc. raised its position in shares of Black Hills by 19.3% during the 4th quarter. Victory Capital Management Inc. now owns 551,582 shares of the utilities provider's stock valued at $32,279,000 after purchasing an additional 89,181 shares during the period. 86.71% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

Separately, Scotiabank decreased 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 report on Friday, February 7th.

Black Hills Price Performance

BKH traded up $0.64 during trading on Friday, hitting $60.09. 622,361 shares of the company traded hands, compared to its average volume of 480,908. The company has a market cap of $4.30 billion, a PE ratio of 15.33, a P/E/G ratio of 2.75 and a beta of 0.68. The stock's 50-day simple moving average is $58.87 and its two-hundred day simple moving average is $59.98. Black Hills Co. has a 1 year low of $50.72 and a 1 year high of $65.59. The company has a current ratio of 0.97, a quick ratio of 0.77 and a debt-to-equity ratio of 1.19.

Black Hills (NYSE:BKH - Get Free Report) last posted its earnings results on Wednesday, February 5th. The utilities provider reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.17. Black Hills had a net margin of 12.84% and a return on equity of 7.82%. As a group, sell-side analysts anticipate that Black Hills Co. will post 4.12 earnings per share for the current fiscal year.

Black Hills Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, February 18th were issued a $0.676 dividend. This represents a $2.70 annualized dividend and a dividend yield of 4.50%. The ex-dividend date was Tuesday, February 18th. This is a positive change from Black Hills's previous quarterly dividend of $0.65. Black Hills's dividend payout ratio (DPR) is 68.88%.

About Black Hills

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.