Black Hills Co. (NYSE:BKH) Shares Sold by Financial Counselors Inc.

Financial Counselors Inc. lessened its holdings in Black Hills Co. (NYSE:BKH) by 0.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 54,391 shares of the utilities provider’s stock after selling 199 shares during the quarter. Financial Counselors Inc.’s holdings in Black Hills were worth $3,324,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. AQR Capital Management LLC boosted its holdings in Black Hills by 31.7% in the second quarter. AQR Capital Management LLC now owns 1,147,939 shares of the utilities provider’s stock valued at $62,425,000 after purchasing an additional 275,994 shares during the period. Dimensional Fund Advisors LP raised its position in Black Hills by 8.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 978,497 shares of the utilities provider’s stock valued at $53,210,000 after purchasing an additional 78,958 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Black Hills by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 949,278 shares of the utilities provider’s stock valued at $51,622,000 after buying an additional 3,544 shares during the period. Victory Capital Management Inc. grew its position in shares of Black Hills by 54.5% during the second quarter. Victory Capital Management Inc. now owns 481,415 shares of the utilities provider’s stock worth $26,179,000 after buying an additional 169,827 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Black Hills by 54.9% during the second quarter. Assenagon Asset Management S.A. now owns 329,478 shares of the utilities provider’s stock worth $17,917,000 after buying an additional 116,730 shares during the period. Institutional investors and hedge funds own 86.71% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on BKH shares. Scotiabank lifted their price target on shares of Black Hills from $54.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Wells Fargo & Company raised their price objective on shares of Black Hills from $61.00 to $64.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, Black Hills has a consensus rating of “Hold” and an average target price of $60.25.

Black Hills Stock Performance

Shares of Black Hills stock opened at $64.12 on Friday. 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 Co. has a 52 week low of $49.33 and a 52 week high of $65.59. The firm’s 50 day moving average is $61.06 and its two-hundred day moving average is $58.20. The firm has a market capitalization of $4.59 billion, a P/E ratio of 17.24, a P/E/G ratio of 4.62 and a beta of 0.69.

Black Hills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Monday, November 18th will be given a $0.65 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.60 dividend on an annualized basis and a yield of 4.05%. Black Hills’s dividend payout ratio (DPR) is presently 69.89%.

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.