Assenagon Asset Management S.A. Sells 286,142 Shares of Black Hills Co. (NYSE:BKH)

Assenagon Asset Management S.A. decreased its position in Black Hills Co. (NYSE:BKH) by 96.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,491 shares of the utilities provider’s stock after selling 286,142 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Black Hills were worth $672,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of BKH. American Century Companies Inc. lifted its position in Black Hills by 89.3% during the 2nd quarter. American Century Companies Inc. now owns 20,962 shares of the utilities provider’s stock worth $1,140,000 after acquiring an additional 9,886 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Black Hills by 8.8% in the second quarter. Dimensional Fund Advisors LP now owns 978,497 shares of the utilities provider’s stock worth $53,210,000 after purchasing an additional 78,958 shares during the period. Intech Investment Management LLC acquired a new position in shares of Black Hills during the 2nd quarter worth about $259,000. Canada Pension Plan Investment Board boosted its stake in Black Hills by 161.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 54,400 shares of the utilities provider’s stock valued at $2,958,000 after purchasing an additional 33,600 shares during the period. Finally, Pacer Advisors Inc. grew its holdings in Black Hills by 58.7% in the 2nd quarter. Pacer Advisors Inc. now owns 16,070 shares of the utilities provider’s stock valued at $874,000 after buying an additional 5,943 shares during the last quarter. 86.71% of the stock is currently owned by institutional investors and hedge funds.

Black Hills Trading Up 0.5 %

Shares of BKH opened at $57.59 on Friday. The stock’s 50-day moving average price is $59.91 and its 200 day moving average price is $59.51. The company has a quick ratio of 0.83, a current ratio of 1.12 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of 15.48, a P/E/G ratio of 4.13 and a beta of 0.72. Black Hills Co. has a 12-month low of $49.33 and a 12-month high of $65.59.

Black Hills Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.676 per share. This is a boost from Black Hills’s previous quarterly dividend of $0.65. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.70%. Black Hills’s payout ratio is currently 69.89%.

Analysts Set New Price Targets

Separately, Scotiabank upped their price target 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 equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has a consensus 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.