Platform Technology Partners Decreases Stock Holdings in Black Hills Co. (NYSE:BKH)

Platform Technology Partners reduced its position in shares of Black Hills Co. (NYSE:BKH) by 3.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,095 shares of the utilities provider’s stock after selling 245 shares during the period. Platform Technology Partners’ holdings in Black Hills were worth $373,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of BKH. Texas Permanent School Fund Corp lifted its holdings in Black Hills by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 59,423 shares of the utilities provider’s stock worth $3,244,000 after buying an additional 787 shares during the period. Empowered Funds LLC bought a new stake in Black Hills in the first quarter valued at $1,028,000. SG Americas Securities LLC increased its position in Black Hills by 357.0% during the 1st quarter. SG Americas Securities LLC now owns 10,754 shares of the utilities provider’s stock valued at $587,000 after purchasing an additional 8,401 shares during the period. Swiss National Bank raised its holdings in Black Hills by 1.4% in the 1st quarter. Swiss National Bank now owns 134,179 shares of the utilities provider’s stock worth $7,326,000 after purchasing an additional 1,900 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Black Hills in the 1st quarter worth about $845,000. 86.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BKH. Wells Fargo & Company increased their price target on shares of Black Hills from $61.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Scotiabank increased their target price on Black Hills from $54.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $58.00.

Black Hills Stock Performance

Shares of BKH opened at $62.44 on Tuesday. Black Hills Co. has a 52 week low of $48.27 and a 52 week high of $62.48. The company has a quick ratio of 0.94, a current ratio of 1.06 and a debt-to-equity ratio of 1.23. The stock has a market cap of $4.36 billion, a P/E ratio of 16.78, a P/E/G ratio of 4.39 and a beta of 0.69. The business’s 50 day moving average price is $60.25 and its 200-day moving average price is $57.57.

Black Hills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Monday, November 18th will be issued a dividend of $0.65 per share. The ex-dividend date is Monday, November 18th. This represents a $2.60 annualized dividend and a dividend yield of 4.16%. Black Hills’s payout ratio is presently 69.89%.

Black Hills 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.