Ridgewood Investments LLC Has $302,000 Holdings in Black Hills Co. (NYSE:BKH)

Ridgewood Investments LLC lessened its holdings in Black Hills Co. (NYSE:BKH) by 13.6% in the 4th quarter, Holdings Channel reports. The firm owned 5,157 shares of the utilities provider’s stock after selling 809 shares during the quarter. Ridgewood Investments LLC’s holdings in Black Hills were worth $302,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of BKH. Versant Capital Management Inc lifted its stake in shares of Black Hills by 181.5% in the 4th quarter. Versant Capital Management Inc now owns 473 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 305 shares during the last quarter. Blue Trust Inc. raised its holdings in Black Hills by 84.9% in the 3rd quarter. Blue Trust Inc. now owns 577 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 265 shares during the period. Capital Performance Advisors LLP bought a new position in Black Hills in the 3rd quarter worth $45,000. Quarry LP raised its holdings in Black Hills by 158.0% in 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. increased its holdings in shares of Black Hills by 972.3% during 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 during the period. Institutional investors and hedge funds own 86.71% of the company’s stock.

Black Hills Price Performance

Shares of BKH stock traded down $0.89 during trading hours on Friday, reaching $55.32. 149,802 shares of the company were exchanged, compared to its average volume of 421,716. Black Hills Co. has a fifty-two week low of $49.33 and a fifty-two week high of $65.59. The stock’s fifty day moving average is $60.55 and its two-hundred day moving average is $59.22. The company has a market cap of $3.96 billion, a price-to-earnings ratio of 14.87, a P/E/G ratio of 4.41 and a beta of 0.72. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.12 and a quick ratio of 0.83.

Black Hills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Monday, November 18th were issued a $0.65 dividend. The ex-dividend date was Monday, November 18th. This represents a $2.60 annualized dividend and a yield of 4.70%. Black Hills’s dividend payout ratio is currently 69.89%.

Analysts Set New Price Targets

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

Black Hills 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.