First PREMIER Bank Cuts Stock Position in Black Hills Co. (NYSE:BKH)

First PREMIER Bank trimmed its holdings in shares of Black Hills Co. (NYSE:BKH) by 1.2% in the fourth quarter, Holdings Channel reports. The firm owned 20,600 shares of the utilities provider’s stock after selling 240 shares during the period. First PREMIER Bank’s holdings in Black Hills were worth $1,206,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in BKH. Versant Capital Management Inc boosted its position in shares of Black Hills by 181.5% in the fourth quarter. Versant Capital Management Inc now owns 473 shares of the utilities provider’s stock worth $28,000 after buying an additional 305 shares during the period. Blue Trust Inc. grew its stake in shares of Black Hills by 84.9% during the third quarter. Blue Trust Inc. now owns 577 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 265 shares in the last quarter. UMB Bank n.a. increased its position in shares of Black Hills by 83.3% during the fourth quarter. UMB Bank n.a. now owns 625 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 284 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Black Hills in the third quarter worth about $45,000. Finally, Quarry LP boosted its holdings in Black Hills by 158.0% in the second quarter. Quarry LP now owns 841 shares of the utilities provider’s stock valued at $46,000 after purchasing an additional 515 shares during the last quarter. 86.71% of the stock is currently owned by institutional investors and hedge funds.

Black Hills Stock Performance

Shares of Black Hills stock opened at $57.49 on Thursday. The firm has a market cap of $4.11 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 4.29 and a beta of 0.72. Black Hills Co. has a 1 year low of $49.33 and a 1 year high of $65.59. The firm’s 50-day simple moving average is $60.12 and its 200-day simple moving average is $59.50. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.83 and a current ratio of 1.12.

Black Hills Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Monday, November 18th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date of this dividend was Monday, November 18th. Black Hills’s dividend payout ratio is presently 69.89%.

Wall Street Analysts Forecast Growth

Separately, Scotiabank lifted their price objective on 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, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $61.25.

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.