Victory Capital Management Inc. trimmed its position in Black Hills Co. (NYSE:BKH – Free Report) by 14.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 159,232 shares of the utilities provider’s stock after selling 26,237 shares during the quarter. Victory Capital Management Inc. owned 0.24% of Black Hills worth $8,056,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in BKH. State Street Corp boosted its position in shares of Black Hills by 7.1% in the 2nd quarter. State Street Corp now owns 7,963,935 shares of the utilities provider’s stock worth $479,907,000 after purchasing an additional 526,334 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Black Hills by 2.2% during the third quarter. Vanguard Group Inc. now owns 6,969,058 shares of the utilities provider’s stock worth $472,015,000 after acquiring an additional 151,038 shares during the last quarter. Macquarie Group Ltd. increased its holdings in shares of Black Hills by 0.4% during the first quarter. Macquarie Group Ltd. now owns 2,554,967 shares of the utilities provider’s stock valued at $161,218,000 after acquiring an additional 9,330 shares in the last quarter. Capital Research Global Investors raised its position in shares of Black Hills by 5.2% in the 2nd quarter. Capital Research Global Investors now owns 2,038,746 shares of the utilities provider’s stock valued at $122,855,000 after purchasing an additional 100,000 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Black Hills by 7.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,411,214 shares of the utilities provider’s stock worth $85,040,000 after purchasing an additional 98,435 shares in the last quarter. Institutional investors own 86.64% of the company’s stock.
Black Hills Stock Up 0.4 %
Shares of BKH stock opened at $49.88 on Wednesday. The company has a current ratio of 0.77, a quick ratio of 0.67 and a debt-to-equity ratio of 1.17. Black Hills Co. has a twelve month low of $46.43 and a twelve month high of $71.15. The stock has a 50 day moving average of $53.21 and a 200 day moving average of $53.19. The stock has a market cap of $3.39 billion, a P/E ratio of 12.92 and a beta of 0.65.
Black Hills Increases Dividend
Wall Street Analysts Forecast Growth
BKH has been the topic of several research reports. Mizuho raised Black Hills from an “underperform” rating to a “neutral” rating and set a $53.00 target price on the stock in a research report on Tuesday, November 21st. Bank of America reduced their price objective on Black Hills from $60.00 to $49.00 and set an “underperform” rating for the company in a research note on Monday, November 20th. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat, Black Hills presently has a consensus rating of “Hold” and a consensus target price of $59.83.
Black Hills Company Profile
Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. It operates in two segments, Electric Utilities and Gas Utilities. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 220,000 electric utility customers in Colorado, Montana, South Dakota, and Wyoming; and owns and operates 1,482 megawatts of generation capacity and 9,024 miles of electric transmission and distribution lines.
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