Sound Income Strategies LLC Decreases Position in Black Hills Co. (NYSE:BKH)

Sound Income Strategies LLC decreased its holdings in shares of Black Hills Co. (NYSE:BKH) by 58.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 469 shares of the utilities provider’s stock after selling 664 shares during the quarter. Sound Income Strategies LLC’s holdings in Black Hills were worth $27,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its stake in Black Hills by 181.5% during the fourth quarter. Versant Capital Management Inc now owns 473 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 305 shares during the last quarter. Blue Trust Inc. lifted its stake in Black Hills by 84.9% during the third quarter. Blue Trust Inc. now owns 577 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 265 shares during the last quarter. UMB Bank n.a. increased its position in 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 buying an additional 284 shares during the period. Capital Performance Advisors LLP acquired a new position in Black Hills during the third quarter worth approximately $45,000. Finally, Quarry LP increased its position in Black Hills by 158.0% during the second quarter. Quarry LP now owns 841 shares of the utilities provider’s stock worth $46,000 after buying an additional 515 shares during the period. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Analysts Set New Price Targets

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

Black Hills Trading Up 0.5 %

BKH opened at $57.59 on Monday. The firm has a market cap of $4.12 billion, a price-to-earnings ratio of 15.48, a price-to-earnings-growth ratio of 4.13 and a beta of 0.72. Black Hills Co. has a 52 week low of $49.33 and a 52 week high of $65.59. The business’s 50 day moving average is $59.91 and its two-hundred day moving average is $59.59. The company has a quick ratio of 0.83, a current ratio of 1.12 and a debt-to-equity ratio of 1.20.

Black Hills Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, February 18th will be issued a $0.676 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.70%. This is a positive change from Black Hills’s previous quarterly dividend of $0.65. Black Hills’s payout ratio is presently 69.89%.

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.