Prudential Financial Inc. Has $13.81 Million Stock Holdings in Black Hills Co. (NYSE:BKH)

Prudential Financial Inc. cut its holdings in shares of Black Hills Co. (NYSE:BKH - Free Report) by 59.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 235,940 shares of the utilities provider's stock after selling 339,391 shares during the period. Prudential Financial Inc. owned approximately 0.33% of Black Hills worth $13,807,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Black Hills by 0.4% during the 4th 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 in the last quarter. LPL Financial LLC increased its position in shares of Black Hills by 11.7% during the fourth quarter. LPL Financial LLC now owns 32,591 shares of the utilities provider's stock worth $1,907,000 after acquiring an additional 3,422 shares in the last quarter. Fox Run Management L.L.C. raised its holdings in shares of Black Hills by 127.5% during the fourth quarter. Fox Run Management L.L.C. now owns 12,205 shares of the utilities provider's stock worth $714,000 after acquiring an additional 6,841 shares during the period. Sei Investments Co. lifted its position in Black Hills by 25.9% in the 4th quarter. Sei Investments Co. now owns 22,304 shares of the utilities provider's stock valued at $1,305,000 after acquiring an additional 4,589 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in Black Hills in the 4th quarter worth $335,000. 86.71% of the stock is currently owned by institutional investors.

Black Hills Stock Up 0.4 %

BKH traded up $0.22 during trading hours on Tuesday, hitting $60.87. 427,523 shares of the company's stock were exchanged, compared to its average volume of 452,193. The company has a quick ratio of 0.77, a current ratio of 0.97 and a debt-to-equity ratio of 1.19. Black Hills Co. has a 1-year low of $50.73 and a 1-year high of $65.59. The stock's 50-day moving average is $59.70 and its two-hundred day moving average is $60.09. The stock has a market cap of $4.39 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 2.75 and a beta of 0.68.

Black Hills (NYSE:BKH - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The utilities provider reported $1.37 EPS for the quarter, topping analysts' consensus estimates of $1.20 by $0.17. Black Hills had a net margin of 12.84% and a return on equity of 7.82%. Sell-side analysts predict that Black Hills Co. will post 4.12 earnings per share for the current fiscal year.

Black Hills Increases Dividend

The business also recently disclosed 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 4.44%. The ex-dividend date of this dividend was Tuesday, February 18th. This is an increase from Black Hills's previous quarterly dividend of $0.65. Black Hills's dividend payout ratio is presently 68.88%.

Wall Street Analyst Weigh In

Separately, Scotiabank dropped their price target on Black Hills from $67.00 to $66.00 and set a "sector perform" rating on the stock in a research note on Friday, February 7th.

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.