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

Platform Technology Partners reduced its position in Black Hills Co. (NYSE:BKH) by 3.9% during the third quarter, according to its most recent 13F filing with the SEC. 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.

Other institutional investors have also added to or reduced their stakes in the company. Leeward Investments LLC MA grew its position in shares of Black Hills by 5.6% in the second quarter. Leeward Investments LLC MA now owns 170,148 shares of the utilities provider’s stock valued at $9,253,000 after purchasing an additional 9,048 shares in the last quarter. Jupiter Asset Management Ltd. raised its stake in Black Hills by 39.7% in the first quarter. Jupiter Asset Management Ltd. now owns 483,120 shares of the utilities provider’s stock valued at $26,378,000 after purchasing an additional 137,356 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in Black Hills by 161.5% during the second quarter. Canada Pension Plan Investment Board now owns 54,400 shares of the utilities provider’s stock valued at $2,958,000 after purchasing an additional 33,600 shares during the last quarter. Empowered Funds LLC purchased a new position in Black Hills in the 1st quarter worth approximately $1,028,000. Finally, Qsemble Capital Management LP bought a new position in shares of Black Hills in the 1st quarter worth $535,000. 86.71% of the stock is owned by hedge funds and other institutional investors.

Black Hills Stock Up 2.7 %

BKH opened at $62.44 on Tuesday. Black Hills Co. has a 12 month low of $48.27 and a 12 month high of $62.48. The company has a current ratio of 1.06, a quick ratio of 0.94 and a debt-to-equity ratio of 1.23. The business’s 50-day moving average price is $60.25 and its 200-day moving average price is $57.57. The company 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.

Black Hills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders 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 annualized dividend and a yield of 4.16%. Black Hills’s payout ratio is currently 69.89%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BKH. Wells Fargo & Company increased their target price on Black Hills from $61.00 to $64.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Scotiabank raised their price objective on Black Hills from $54.00 to $63.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $58.00.

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.