Financial Counselors Inc. Decreases Stake in Black Hills Co. (NYSE:BKH)

Financial Counselors Inc. lessened its holdings in shares of Black Hills Co. (NYSE:BKH) by 0.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,391 shares of the utilities provider’s stock after selling 199 shares during the period. Financial Counselors Inc. owned 0.08% of Black Hills worth $3,324,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Signaturefd LLC boosted its position in shares of Black Hills by 4.1% during the 2nd quarter. Signaturefd LLC now owns 4,736 shares of the utilities provider’s stock valued at $258,000 after acquiring an additional 188 shares during the last quarter. Lesa Sroufe & Co boosted its holdings in Black Hills by 0.5% in the 2nd quarter. Lesa Sroufe & Co now owns 43,294 shares of the utilities provider’s stock valued at $2,354,000 after purchasing an additional 231 shares during the last quarter. BancFirst Trust & Investment Management boosted its holdings in Black Hills by 5.7% in the 2nd quarter. BancFirst Trust & Investment Management now owns 4,326 shares of the utilities provider’s stock valued at $234,000 after purchasing an additional 233 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of Black Hills by 0.9% in the 2nd quarter. Acadian Asset Management LLC now owns 26,694 shares of the utilities provider’s stock valued at $1,451,000 after buying an additional 249 shares during the period. Finally, Blue Trust Inc. increased its holdings in shares of Black Hills by 84.9% during the 3rd quarter. Blue Trust Inc. now owns 577 shares of the utilities provider’s stock worth $35,000 after buying an additional 265 shares during the last quarter. Institutional investors and hedge funds own 86.71% of the company’s stock.

Analysts Set New Price Targets

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

Black Hills Stock Up 0.3 %

Black Hills stock opened at $64.12 on Friday. The company has a market capitalization of $4.59 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 4.62 and a beta of 0.69. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.83 and a current ratio of 1.12. Black Hills Co. has a fifty-two week low of $49.33 and a fifty-two week high of $65.59. The firm has a 50 day moving average price of $61.06 and a 200 day moving average price of $58.20.

Black Hills Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Monday, November 18th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.60 annualized dividend and a dividend yield of 4.05%. Black Hills’s dividend payout ratio 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.