Intech Investment Management LLC Buys 14,072 Shares of Black Hills Co. (NYSE:BKH)

Intech Investment Management LLC boosted its position in shares of Black Hills Co. (NYSE:BKH - Free Report) by 106.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,261 shares of the utilities provider's stock after buying an additional 14,072 shares during the quarter. Intech Investment Management LLC's holdings in Black Hills were worth $1,595,000 as of its most recent filing with the Securities & Exchange Commission.

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

Black Hills Trading Up 1.0 %

BKH stock traded up $0.61 during trading on Wednesday, reaching $59.43. The company had a trading volume of 331,025 shares, compared to its average volume of 419,811. 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 52 week low of $50.73 and a 52 week high of $65.59. The business has a 50 day moving average of $59.60 and a 200 day moving average of $60.09. The company has a market cap of $4.28 billion, a P/E ratio of 15.16, a PEG ratio of 2.75 and a beta of 0.68.

Black Hills (NYSE:BKH - Get Free Report) last announced its earnings results 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 forecast that Black Hills Co. will post 4.12 earnings per share for the current fiscal year.

Black Hills Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.676 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date of this dividend was Tuesday, February 18th. This is a boost from Black Hills's previous quarterly dividend of $0.65. Black Hills's payout ratio is 68.88%.

Wall Street Analyst Weigh In

Separately, Scotiabank decreased their target price on Black Hills from $67.00 to $66.00 and set a "sector perform" rating for the company 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.