Hotchkis & Wiley Capital Management LLC Sells 7,290 Shares of Black Hills Co. (NYSE:BKH)

Hotchkis & Wiley Capital Management LLC reduced its position in Black Hills Co. (NYSE:BKH) by 3.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 215,260 shares of the utilities provider’s stock after selling 7,290 shares during the quarter. Hotchkis & Wiley Capital Management LLC’s holdings in Black Hills were worth $13,157,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. AQR Capital Management LLC boosted its position in Black Hills by 31.7% during 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 acquiring an additional 275,994 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Black Hills by 54.5% during the 2nd quarter. Victory Capital Management Inc. now owns 481,415 shares of the utilities provider’s stock valued at $26,179,000 after purchasing an additional 169,827 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in 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 purchasing an additional 116,730 shares during the period. Mackenzie Financial Corp increased its holdings in Black Hills by 324.7% in the second quarter. Mackenzie Financial Corp now owns 127,243 shares of the utilities provider’s stock worth $6,919,000 after purchasing an additional 97,285 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Black Hills by 8.8% in the second quarter. Dimensional Fund Advisors LP now owns 978,497 shares of the utilities provider’s stock valued at $53,210,000 after buying an additional 78,958 shares during the period. 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 $63.00 on Wednesday. The business has a 50-day simple moving average of $61.15 and a 200 day simple moving average of $58.32. Black Hills Co. has a one year low of $49.33 and a one year high of $65.59. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.12 and a quick ratio of 0.83. The firm has a market capitalization of $4.51 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 4.54 and a beta of 0.71.

Black Hills Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Monday, November 18th were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $2.60 annualized dividend and a dividend yield of 4.13%. Black Hills’s dividend payout ratio is 69.89%.

Analysts Set New Price Targets

Separately, Scotiabank raised their price objective on shares of Black Hills from $54.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $60.25.

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.